AS flood and drought ravage communities across Nigeria, leading to diseases, destructions and deaths, the Corporate Accountability and Public Participation Africa, CAPPA, Monday, raised alarm over inadequate funds as climate change impacts worsen. The Executive Director, CAPPA, Akinbode Oluwafemi, made this known at the ‘2nd National Conference on Climate Change 2023’ with the theme ‘Creating Agenda For Sustainable Climate Finance For Nigeria’ held in Abuja.
Oluwafemi called on the Federal Government and international development partners to provide more funding to address climate change challenges, especially in rural areas across the country. According to him, the conference became imperative as it is aimed to foster a necessary dialogue among representatives of front line communities, climate justice groups, allies, critical state actors, development experts, academia, and the media, among others.
“The objective is to collectively address overarching concerns related to climate change in Nigeria and establish a unified, people-centric stance on crucial topics, including the Loss and Damage Fund, climate finance, and other priority issues and actions.
He said: “Today, we wil examine the African Climate Summit pact otherwise known as the Nairobi Declaration to align national goals with relatable regional agenda.
“Furthermore, participants will critically assess Nigeria’s agenda for COP28, with a view to anchoring it on the needs and experiences of vulnerable populations, particularly women and children at the heart of the climate change crisis. Additionally, the environmental experts present will interrogate the politics of decarbonisation and a just energy transition among other pertinent issues.
“Our agenda is packed with important discussions. It is our hope that this conference provides
clarity and guidance for all stakeholders on the necessary actions moving forward.
“Climate finance in Nigeria has relied exclusively on concessional debt which is about 46%and
non-concessional debt at 25%. Grant and equity-based finance currently play a relatively minimal role in Nigeria’s climate finance ecosystem, at 5% and 12% respectively. “Nigeria’s climate finance is not yet reflective of the country’s vulnerability. Efforts in adaptation and mitigation are yet to be scaled up significantly to embrace our realities.
“Nigeria like every other country in sub-Saharan Africa is classed as a vulnerable country considering it’s exposure to climate risks. The effects of climate change are set to accelerate over the coming years unless progressive climate finance and a well-structured loss and damage funding mechanism are institutionalized and appropriately managed.
“There is undoubtedly a need to create a new source of finance that will address climate risks and arrest issue upsurge.
It is on this basis that the theme of this year’s conference tagged ‘Creating a Sustainable Climate Finance for Nigeria’ was carefully decided as it not only affirms the threats of climate change to our collective survival but also reiterates the need for urgent action to curtail what experts have referred to as an existential crisis.
“This conference will interrogate the significance of Loss and Damage in the UNFCCC mechanism as a tool for providing adequate compensation for age-long climate injustices.
“It will also serve as a reminder to state actors of the need to adjust their rule books to incorporate structured climate finance aimed at closing the vulnerability gap of the
frontline communities.”
Meanwhile the former Vice Chancellor, Lagos State University and Prof of Environmental Law, Prof Olanrewaju Fagbohun, SAN, in a keynote address titled ‘COP 28: Loss and Damage Fund and the Quest for Sustainable Climate Finance Mechanism’, pointed out the impact of climate change, which has become more frequent, intense and resulting in more damage and loss of lives.
According to Prof Fagbohun, among the direct and indirect consequences of climate change which continue to dawn on humanity on a daily basis are the destruction of livelihoods, spread of diseases, disruption of ecosystems, deepening conflicts as a result of diminishing resources, destruction of critical infrastructure, loss of cultural heritage and indigenous knowledge, forced displacement of human population and diminution of basic standards of living.
He said: “Climate risks are multi-dimensional and cover a range of geophysical, social, and economic issues. Climate risks are also pervasive and systemic, the threat of climate change is accelerating, thus, the rising momentum and urgency of commitment to climate transition to a low-carbon, more resource-efficient and sustainable economy.
“Wealthy countries who are responsible for most greenhouse gas emissions suffer the least from climate change, while the poorest countries are the most vulnerable and bear a disproportionate share of the costs arising from climate change events.
“Compared with other regions of the world, the impact of climate change is more severe on Africa for reasons of its low adaptive capacity as a result of limited access to capital and technology, endemic poverty, weak governance and dysfunctional state of institutions.
“At the local level, whole-of-government action is what can foster an effective and efficient just transition; while at the global level collective action is what is required if the target of the Paris agreement is not to be a mirage.
“The increase in the costs of debt servicing associated with climate vulnerability has become an issue of serious concern for emerging markets, low and medium-income economies in particular, climate vulnerability and unsustainable debt burdens have diminished the fiscal space for investment in climate resilience.
“Currently, 52 developing countries are suffering severe unsustainable national debt burdens.”
Meanwhile, as part of the conference, a panel session focused on the topic ‘Politics and Issues in Climate Financing’, which was moderated by Faith Nwadishi, where the Director, Health of Mother Earth Foundation, HOMEF, Arc Nnimmo Bassey, while speaking on ‘Interrogating the Declaration of Kenya on Climate Change’, maintained that the only way to save the people and environment impacted by climate change is to stop the extraction of fossil fuels and solid minerals the way it is being done now.
Bassey said: “Stop the reckless extraction of solid minerals, and oil and gas in ways that ruin our territories, and we have seen this happening in the Niger Delta and elsewhere.
“We must proffer solutions and it must not be based on false solutions like we have seen in Cross River State, in which people collect money and do partial work as a solution.”
He also called for enough funds from polluters to tackle climate change impacts. He added that fossil fuel should be left in the ground and not to be mined fire to the devastating impacts it has meted out to Nigerians, and added that the solution should be people-centred. Meanwhile, another panellist, the Director General and Chief Executive Officer, CEO, National Council on Climate Change, NCCC, Dr Salisu Daihiru, while speaking on ‘The Nigerian Agenda for COP 28’ disclosed that Nigeria will go in to strongly negotiate for climate finance, nature-based solutions, carbon-market mechanisms, equitable energy transition, and others at COP 28.
Dahiru also said the position Nigeria is going to take to COP 28 will not be much different from the one of the Economic Community of West African States, ECOWAS, which include carbon-market, increased support for adaption to reduce Climate Change impact, loss and damage fund needs to be operationalized immediately, climate finance, agriculture, and technology transfer.
According to him, the Council is currently registering Ministries, Departments and Agencies including Civil Society Organizations and communities in order to carry every segment of the society. However, another panelist, the Executive Director, We the People, Ken Henshaw, while speaking on the ‘Hidden Truths About Carbon Offsets, lamented the impact of flood on Nigerians, which most people are not really catered for and have remained in refugee camps.
Henshaw pointed out that the recommendations and actions on climate change need to reflect and focus on the people, because they have been the ones bearing the brunt of the impacts of climate change. He accused the Nigerian Government of not taking action after COP 27 in Egypt, and the people are left in the limbo as there is no defence for them.
Source: Vanguard
