Corporate Brief

We are building a green city…

The fight against climate crisis and environmental degradation in Niger Delta and across Nigeria is winnable but requires a transparent and sustainable approach, as well as the commitment and active participation of all and sundry. PH GREEN has taken this fight to real estate by building the first REAL ESTATE CARBON PROJECT in Nigeria and by participating in the MULTI-BILLION-DOLLAR GLOBAL CARBON MARKET. This novel project (PH GREEN CITY) promises real estate liquidity and flexibility, social inclusion, and financial freedom. The project also has several highly attractive green features including, but not limited to, Green Sports Academy, Green University, Green Medicals, Green and Smart Security System, Green research and Innovation Hub, Green Skill Acquisition Centre, Green Industrial, Green Transportation, Green and Clean Energy, and Green Resource Centre for Senior Citizens. With GCity Token (A Blockchain Asset on Polygon Network), the project is democratically governed which guarantees inclusiveness, fairness, efficiency, and transparency. Also, with GCity Token, individuals, organizations, and institutions can offset their carbon footprints and thereby know the extent of their contributions to the on-going global fight against climate change and environmental degradation, in line with the net-zero carbon emissions target of the United Nation’s Framework Convention on Climate Change (UNFCCC).

Introduction – The Risk We all Face

Climate crisis remains the world’s biggest environmental threat with unimaginable socio-economic consequences. However, while climate change is affecting the whole world concurrently, its effects across continents and regions vary, with Africa being the most significantly impacted, despite contributing the least to global warming. A recent UN report shows that Africa faces increasing temperatures and sea levels, increased frequency of heavy rainfall events, changing and unpredictable rainfall patterns, and extreme weather conditions, which are posing great systemic risks to its fragile economy, infrastructural development, agriculture and water resources, and human health and safety.

Impact of Climate Change In Nigeria

In Nigeria, the effects of climate change are more visible in the areas of flooding, erosion, and forest disappearance. A UN report shows that 372 out of the 744 local governments in Nigeria are currently at risk of flooding, while 50% of the forests that existed in 2007 have completely disappeared. Also, erosion, which has intensified the effects of deforestation, desertification, drought, and over-grazing, especially in the Northern part of the country, has led to population displacement, forcing more than half a million people to leave their ancestral homes, and worsening the socio-economic conditions and well-being of the citizens. Nigeria has assessed that a total of $17.7 billion annual investment is required to mitigate the devasting impact of climate change and to meet its Nationally Determined Contribution (NDC) pledge by 2030.

Effects Of Oil Exploration In The Niger Delta

Since the commencement of oil exploration and production in the Nigeria’s Niger Delta region in the last six decades, environmental pollution and climate crisis has almost become a permanent feature of the region. The region is adjudged to be the most affected by climate crisis in Nigeria and one of the most polluted in the world. The climate crisis has manifested mainly in the form of flooding, heat waves, soot, rising temperature, water and air pollution, erosion, rising sea level, and land degradation. These environmental menaces have severely affected the socio-economic well-being and quality of life of the Niger Delta people, causing, amongst others, poverty, unemployment, food insecurity, and security crises.

PH Green Approach To The Problem

While the effects of climate crisis have been so visible and devastating, it appears that no credible action has so far been taken by stakeholders to mitigate these deleterious effects in line with the sustainable development goals of the United Nations. Port Harcourt Green Enclave Limited (PH GREEN) is conceived to frontally combat both the causes and the effects of climate change in the Niger Delta region and beyond.

Problem Statement

Real estate market in Nigeria is typically characterized by inflexibility and high illiquidity risk. While real estate assets are immovable, cashflows from real estate investment are largely unpredictable due to the uncertain time it takes to market or sell a real estate asset. Compared to other assets or investment securities, it typically takes a relatively longer time to market or sell a real estate asset because most properties are traded in private contracts, mostly involving a single buyer and a single seller. Worse, some real estate assets are so unique that they have different valuations and are infrequently and irregularly traded, and hence have higher illiquidity risk. Also, no sustainable approach to real estate development has so far been adopted by urban stakeholders as housing construction is still largely based on brick and mortar even in the mega cities such as Lagos, Kano, Abuja, and Port Harcourt. The country has also recorded incessant cases of collapsed buildings in the big cities. In addition to poor quality housing, other factors that have impeded urban housing development include housing affordability owing mainly to high cost of building materials, highly expensive real estate finance, and increasing poverty.

PH GREEN is providing a highly innovative solution to real estate illiquidity and inflexibility through its novel LETS model. This model combines GREEN DEVELOPMENT and BLOCKCHAIN TECHNOLOGY to produce Liquidity, Efficiency, Transparency, and Sustainability of real estate investment. The LETS model is also an effective tool to fight climate change to a stand-still in Nigeria as it provides a gateway to participate and trade in the Multi-Billion-Dollar Global Carbon Market.

Company Description

PH GREEN is an indigenous green development company founded in 2020, with a vision to lead the campaign against climate change and its devastating impacts in the Niger Delta region. The company provides a wide range of real estate services, focused mainly on the development of PH Green City and agroforestry systems for climate solutions in Niger Delta. The company is poised to make real estate a highly liquid and extraordinarily profitable investment option, leveraging digital technology, and through active participation in the global multi-billion-dollar carbon credit market in line with the sustainable development goals (SDGs) of the United Nations and the net zero emission target of the United Nations’ Framework Convention on Climate Change (UNFCCC).