General

Ministry Of Environment Launches Strategy To Support Youth Innovation.

Ministry of Environment has launched Nigeria’s Long-term low emission Vision  2050 and Investment / Financial Flow Assessment Reports, to support Youth Innovation for Climate Actions in Nigeria.

The  Long Term – Low Emission Development Strategies (LT-LEDS),  is aimed at providing Nigeria the forum to discuss the opportunities and challenges that might arise in terms of a cleaner, more dynamic, and more sustainable growth model.

The options for the country is to implement a less carbon-intensive model of economic development in the face of decreasing global reliance on fossil fuel energy for development practices.

The  Minister of State for Environment, Mrs Sharon Ikeazor,  explains that “engaging youths in an organized effort to promote environmental sustainability has implications for youngsters themselves as well as for their immediate communities. We have plenty of resources, but the demand is increasing day by day. It is high time we harnessed the passion of youths and charge them with responsibility to manage it efficiently. I therefore call on my fellow public sector stakeholders at the policy making level, regulatory level and all implementing entities to support the Ministerial climate promise by embedding budget-supported climate friendly activities in their daily operations“.

According to Mrs. Ikeazor,  Nigeria is predisposed to severe negative impacts of climate change, which Nigeria remains committed to addressing the challenge.

“Nigeria is committed to fulfilling its pledge to combat climate change along with the international community through the Paris Climate Agreement. the country recently submitted her revised NDC commitment to the United Nations Convention for Climate Change. In the recently submitted commitment, the country is expanding its ambition and increasing the target sectors considered, it  has pledged to reduce CO2e emissions by 20% by 2030 with its own resources and by 47% with international support. Agreeably, undertaking such ambition will require significant investment from both domestic and international sources with end-to-end contributions from private and public sectors.” she said.

The Minister of Environment Dr Mohammad Abubakar, noted that Nigeria is  recommitted to reducing emission by 20%   with a slight increase from 45% to 47% conditionally by the year 2030.

“Towards achieving this global commitment and in order to properly map resource mobilization, the United Nations Development Programme (UNDP) supported the Ministry in developing the Investment and Financial Flow (I&FF) for the purposes of conducting an assessment to determine the costs of climate change measures and potential sources of investment funds.

Dr. Abubarka stated that “The starting point for the I&FF methodology is to effectively address climate change adaptation and mitigation. the Investment Financia Flow IFF, assessment will, address climate change adaptation and mitigation and also aid decision makers to recognise the need for solid information on current and future climate change-related investments and financial flows, as well as their timing, sources and investment entities.

He said the strategy would promote sustainable development and guarantee a climate proofed economy through multi-stakeholders’ engagement across multiple sectors that include the bioeconomy, blue, green and food economies that also align with critically important SGDs such as poverty eradication, access to affordable energy and zero hunger.

 

Source: Voice of Nigeria