By Mashe Umaru Gwamna
Minister of EnvironmentBalaraba Lawal has called for more financial mobilization inflow for environmental sustainability in Nigeria .
Lawal made this known while declaring the 17th technical session meeting of the National Council on Environment(NCE) opened yesterday in Abuja .
He said environment financing is capital intensive, are such there is a need to implore innovative financing mechanisms.
Such as green bonds, carbon ricing, and public-private Partnerships.
He said when there is financial inflow, it will allow allocation of resources towards projects and initiatives aimed at protecting and preserving the environment.
“This will help in generating the resources needed for effective environmental protection and conservation efforts”.
Lawal emphasized that Nigeria stands at a critical juncture, where the urgency to act boldly on environmental issues is undeniable.
“Each decision we make within these walls reverberates far beyond shaping the health and sustainability of our planet for generations to.come.
“Our nation stands at a critical juncture, where the urgency to act boldly on environmental issues is undeniable. Climate change threatens ecosystems, livelihoods, and biodiversity, swift and decisive actions are needed to mitigate the adverse effects of climate change.
“We must redouble our efforts to mitigate greenhouse gas emissions, embrace renewable energy solutions, and foster sustainable practices across all sectors.
As guardians of biodiversity, we must safeguard our precious ecosystems from degradation and exploitation. Protecting our forests, wetlands, and marine habitats is not merely an environmental imperative but a moral obligation to preserve the rich tapestry of life on Earth.
Lawal also
urged members of council to intensify exploration and implementation of financing mechanisms at their disposal.
Also speaking,
the Minister of State for Environment, Dr. Iziaq Salako stated that Lawal, the importance of innovative financing mechanisms such as the issuance of Green Bonds to drive private sector funding into environmental initiatives. He urged state governments to explore opportunities for climate financing through the issuance of their green bonds.
Emphasising the need to mobilise funding for climate and environmental actions, Salako stressed the importance of presenting Nigeria’s areas of comparative advantage to the global community. He advocated for nature-based solutions and highlighted Nigeria’s role in promoting ambition on biodiversity finance.
Meanwhile, the Food and Agriculture Organization of the United Nations, (FAO) Representative in Nigeria and to ECOWAS, Koffy Kouacou who was represented by Northeast Emergency Office, Tofiq Braimoh
stated that FAO is dedicated to assisting the government in managing natural resources.
And also accessing climate finance and implementing projects for sustainable agriculture and land use.
Kouacou also explained the importance of securing funding from various sources to support conservation and climate change mitigation efforts.
The theme for this year’s meeting is “Environment Financing: Need to mobilize more financial inflows for generating adequate resources in support of environmental sustainability efforts”.
