Increase in green revenue will fund climate action – Salako

By Mashe Umaru Gwamna

The Minister of State for Environment, Dr. Iziaq Salako said increase in green revenue is one sure way to ensure more funding for climate action.
Salako made this known at the stakeholders roundtable on climate budgeting and green accountability recently in Abuja.
He said “It is very important for stakeholders within the climate financing and environmental sustainability movement to working for Nigeria to begin to access its fair share of the 103.8 billion global carbon credit market.
He emphasized that the federal government is working to formalise the carbon market in the country through the intergovernmental committee on National Carbon Market Activation.
He said the federal government has examined the opportunities offered by the rich biodiversity of Nigeria to earn bio-credits.
He urged the stakeholders that the fight against climate change requires a united front.
“ It demands the active participation and commitment of all stakeholders, from the government and private sector to civil society and local communities. Each of us has a unique role to play, and together, we can drive the transformational change needed to secure a sustainable future”.
The Minister stated that Climate change is undoubtedly one of the most significant challenges of our time. “Its impacts are felt globally, transcending borders and affecting every aspect of our lives. From rising sea levels and extreme weather events to biodiversity loss and food security threats, the consequences are profound and far-reaching.
“It is imperative that we, as custodians of the planet, take decisive action to mitigate these effects and build a resilient, sustainable future for generations to come”, he said.
He also stated that the platform serves as a vital tool for dialogue and cooperation.
He said “ It is through such collaborative engagements that we can develop innovative solutions and implement effective strategies to address the complex issues of climate change.
“Let me therefore use this opportunity to appreciate BudgIT for the work it is doing promoting budgeting reforms, tracking service delivery and natural resource governance, providing institutional support, undertaking research and policy advisory in Nigeria and other countries for us all to have a more equitable society”.
Meanwhile, He explained that climate budgeting is a fundamental tool in our endeavour to combat climate change.
“ By integrating climate considerations into our national budgeting processes, we ensure that our financial resources are allocated in a manner that supports sustainable development and climate resilience”.