UNN backs climate finance research to boost sustainable development

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The Vice-Chancellor, University of Nigeria, Nsukka, Prof. Simon Ortuanya, says the institution is strongly supporting climate finance research to address environmental challenges and strengthen sustainable development efforts.

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Ortuanya made this known at a Stakeholders’ Inception Workshop, on “Innovative Climate Finance for Unlocking Development and Equity in Africa” (including the Africa project) on Tuesday in Abuja.

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The programme was organised by Resource and Environmental Policy Research Centre (REPRC), the Environment for Development (EfD) Nigeria, and UNN.

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The vice chancellor said that climate change had become a major global issue requiring urgent and sustained attention, adding that climate finance remained timely.

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According to him, this is because the future of humanity depends on effective responses to climate change.

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He described climate finance as a local, national, or international funding from public, private, and alternative sources, designed to support mitigation and adaptation actions.

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“Such action that will address climate change, which is also essential for reducing greenhouse gas emissions and strengthening resilience against climate impacts.

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“Climate change is now more important than ever. The world faces serious risks without action. The university community, management, senate and students will continue to support the climate research project,” he said.

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Ortuanya said that climate change, biodiversity and environmental protection were essential to development, education and life, adding that the university was honoured to be selected to participate in the project.

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The vice-chancellor welcomed participants to the workshop while appreciating stakeholders from Africa and other parts of the world for attending the programme.

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Earlier, Prof. Nnaemeka Chukwuone, Director, EfD, UNN, said the programme would introduce the project and engage stakeholders from different sectors to support its implementation.

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Chukwuone said discussions with stakeholders would provide useful input, strengthen the programme and help achieve its objectives effectively.

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Speaking, Dr Tenioye Majekodunmi, Director-General, National Council on Climate Change, said that climate commitments must translate into equitable and tangible investments.

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Majekodunmi, represented by Mr Opeyemi Fagbamigbe, Technical Assistant on Climate Finance, NCCC, said the gap between climate finance needs and actual flows to West Africa remained wide in spite of commitments.

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She urged for stronger domestic financing through private sector innovation, improved financial institutions and climate-focused budgeting.

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He added that such would boost resilience and support a greener future.

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Director, Forestry, Ministry of Environment, Mrs Halima Bawa, said Nigeria’s climate financing efforts face challenges in spite of existing policies, frameworks and targets, as funding remains a major obstacle to implementing climate programmes.

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Bawa said that climate change financing under the UN framework had attracted more support globally than biodiversity and desertification conventions, making it a major focus of international negotiations.

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“Global climate finance commitments had increased from $100 billion dollars to about $300 billion dollars, but Nigeria had yet to see a significant domestic impact.

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“Nigeria introduced sovereign green bonds to raise funds locally for climate action, following collaboration between the ministry and the Securities and Exchange Commission,” she said.

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She said the ministry remained open to supporting research and partnerships to strengthen innovative financing for climate, biodiversity and forestry goals in the country.

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Mr Gunnar Kohlin, Chairman of Project Advisory Committee, INCLUDING Africa, said that the EfD centre had emerged as Africa’s leading centre since 2019

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Kohlin added that it had also secured major grants from the African Union, Hewlett Foundation and International Development Research Centre through strong institutional support.

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He said that the programme would address climate finance gaps in West Africa by promoting practical solutions that would help in tackling climate change.

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