BY CHIKA OKEKE, Abuja
The Africa Climate Forum (ACF) has canvassed for sustainable, adequate and affordable finance to implement Africa's climate goals, harping on the need for greater investment in adaptation and resilience projects.
Convener of ACF, Prof George Nwangwu stated this in Abuja on Tuesday, while declaring open the 4th edition of ACF, with the theme: “Implementing in Lockstep: Public-Private Action for Green Outcomes.”
He noted that sustainable finance is crucial to unlock investment and partnerships that accelerate the implementation of the continent’s climate ambition, making a case for effective arrangements in addressing loss and damages associated with climate change.
For the first time, the ACF expanded beyond Nigeria to Accra, Ghana, reinforcing its vision as a pan-African platform, designed to create an environment where investment flows into projects that deliver both economic value and meaningful environmental and social benefits.
Already, plans are underway to host a mini-series in Nairobi, Kenya next year, with the ultimate goal of driving greater impact, participation, and measurable green outcomes across Africa over the next four years.
Nwangwu stated that Africa requires access to appropriate technologies and financing structures that recognise the circumstances of African economies, calling for enormous investment in renewable energy, resilient infrastructure, sustainable transport, agriculture, water systems, waste management and other critical sectors.
He said: “We must also confront the difficulties that prevent promising climate projects from becoming bankable investments. These include high financing costs, currency risks, regulatory uncertainty, inadequate project preparation and limited access to long-term capital.
For decades, Africa has developed national climate commitments, embraced renewable energy ambitions, and advocated for greater support for adaptation, resilience, and the transition to low-carbon development, yet, the gap between commitments and implementation remains significant.
Across the continent, communities continue to suffer the consequences of devastating floods, droughts, food insecurity and environmental degradation, even as cities face growing climate-related pressures.
While disclosing that Africa’s agricultural systems remain vulnerable to changing weather patterns, Nwangwu noted that the ACF centred on four pillars such as policy dialogue, deal rooms, marketplace and African climate stories, designed to translate high-level ambition into concrete outcomes.
The forum provides a valuable platform for dialogue, for knowledge exchange and sharing, strategic partnerships, and the development of practical solutions to strengthen our continent's resilience to climate-related challenges.
He lamented that millions of Africans still lack access to reliable electricity and clean cooking, even as Africa possesses abundant renewable energy resources.
The challenge before the continent is to translate the commitments into concrete and measurable results, moving from aspiration to execution, from promises to projects, and from declarations to delivery.
To this end, Nwangwu recognised that public expenditure and development assistance alone cannot address the scale of Africa's climate challenges, seeking private investment, entrepreneurship, technology and commercially sustainable solutions to overcome the challenges.
The Regional Director of United Nations Industrial Development Organization (UNIDO), Ambassador Philbert Abaka Johnson enjoined the Federal Government to provide the policy certainty and predictable demand that will unlock private capital through stable demand, stable standards, green public procurement, and timely preparation of carbon border adjustment measures in Africa's export markets.
He assured that UNIDO would continue to provide technical expertise, project preparation, and convening support to Federal and state governments, private sector, financial institutions, and development partners in Nigeria and across the ECOWAS subregion.
Johnson, who was represented by National Program Officer of UNIDO, Dr. Reuben Bamidele pleaded with financiers and development financing institutions to align concessional, blended, and risk-sharing instruments to pipelines of prepared projects.
The Permanent Secretary, Ministry of Regional Development, Dr. Mary Ada Ogbe said that climate change is no longer a distant threat but a reality affecting livelihoods, food security, water resources, infrastructure, public health, and economic development across Africa.
He informed that from desertification and drought to flooding, coastal erosion, and the loss of biodiversity, the impacts are far-reaching and demand coordinated, inclusive, and sustainable responses
Ogbe, who was represented by Director, Head of Environment Management Department, Ministry of Regional Development, Mr Fred Odika recognised that sustainable development cannot be achieved without integrating climate considerations into climate policies, programmes, infrastructure planning, and community development initiatives.
The Dean, Faculty of law, Nile University of Nigeria, Prof Fatima Alkali said that Prof. George Nwangwu was a pioneer facilitator of the Energy and Natural Resources Law specialisation in the varsity.
She stated that Nwangwu has inspired numerous Ph.D. and LL.M. research projects, mentoring many law graduates who are now actively contributing to climate mitigation and energy transition in practice.
Alkali informed that legal scholars and institutions play a vital role in crafting the regulatory, policy, and legal frameworks necessary for a just and sustainable energy transition.
She hinted that the varsity remains committed to developing research-backed solutions to human climate challenges, adding that everyone has a role to play in mitigating the impact of climate change.
Comments
Post a Comment