Investors eye $100b climate finance, FG’s NDC projects
Climate specialists have flagged off Nigeria Climate Investment Initiative (NCCII) to bring both private and public sector on board to fast-track practical assistance to enable government finance its Nationally Determined Contributions (NDCs) in the country.
They want implementation of Paris Agreement, and government’s focus on financing its commitments, which would become a standard methodology for any country to use in execution of environmental projects.
Speaking in Abuja, its Curator, Dr.Paul Abolo explained that they want to use the platform to key into proposed $100 billion for parties to access funding and technology support for climate change mitigation and adaptation.
He noted, NCCII is aimed at addressing information and capacity gap in accessing global climate change fund, and engage in green economy, while simultaneously communicating to the entire Africa and the world.
“It would facilitate actions leading to innovative approaches to sustainable development through environmental and economic strategy integration. This would blend with projects for multiple deliverables.
“The Paris Agreement provides and directs for engagement of international cooperation and international organisations to assist regular and meaningful opportunities for climate change initiatives.”
On his part, Jerome Ringo, an environmentalist, said he has travelled 64 times to Africa in four year advocating and developing renewable energy, adding, “It is time to shift from advocacy to actions.”
According to him, United States consumed 20 per cent energy produced in the world, “It seems Africa do not care about climate change. We should empower people in different levels in order to chart a course of actions.”
The Director, Climate Change Department, Federal Ministry of Environment, Dr. Peter Tarfa cited government’s five priority areas to consider such as oil and gas, industrial, agriculture power, and transportation sector and appealed to investors to look on them.
He also explained that after the signing of Paris Pact, “a lot of legal framework has been put in place. We are now commencing mobilization drive and expectations of both private and public are very high in the country.
Contributing, Dr. (Mrs.) Olufunso Amosun regretted that it has taken policy makers, stakeholders and government too long to move into action to solve environmental challenges in Nigeria.
“We hope to reawaken all sectors to it. It is essential to channel the dynamic of unemployed youths into areas of renewable energy technologies, waste management green entrepreneurship to turn back the tide,” she added.