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CJID, Heinrich Böll Stiftung launch report on climate finance in Nigeria

By Nneka Nwogwugwu

The Centre for Journalism Innovation and Development (CJID) is partnering with the Heinrich Böll Stiftung (HBS) to host a public dialogue and report launch on “Unlocking Climate Finance for Nigeria: Between Aspirations and Realities” on Thursday.

This was made known through a press release by the Centre.

CJID, known for its practice of advocacy, capacity building, and investigative reporting using open data and civic technology, will be hosting the event with the German foundation (HBS) to spark constructive conversations on how Nigeria could raise more financial resources to tackle the impending climate change crisis, as the world is looking forward to the UN climate conference (COP27) in Egypt later this year.

The dialogue unveils a critical assessment report that highlights how Nigeria has fared in its management of existing climate finances raised through the two-consecutive historic green bond issued within the past six years.

Jochen Luckscheiter, HBS head of office, said: “The provision of climate finance is a key aspect from the perspective of developing countries like Nigeria who are committed to making measurable contributions to keep global warming below 2 degrees Celsius.”

The Acting Executive Director of CJID, Tobi Oluwatola, said, “Climate finance is crucial if Africa is to wean itself off fossil fuel dependence and adapt to the effects of anthropogenic climate change.”

He said the media needs to educate the public, especially entrepreneurs in the Renewable Energy space and communities on how to access financing for their projects.

Bonn conference: Vulnerable nations are being betrayed by rich countries – Activist

As the Bonn conference geared up for its conclusion on Thursday, Tasneem Essop from CAN International has stated that Vulnerable nations are being betrayed by rich countries.

He further said that the EU, US, others have been blocking progress on loss and damage finance.

For many participants, a concept known as loss and damage has become the key issue in the global climate negotiations.

Developing country participants say climate impacts on their countries are more severe than on the richer nations and they have less financial capacity to cope.

“We are already living with loss and damages for the last 25 years,” said Adriana Vasquez Rodriquez from the Association La Ruta del Clima, a Costa Rican environmental group.

The developing nations argue that the climate change they are experiencing has been caused by historic carbon emissions that originated in richer countries. They say that Europe and the US have a responsibility now to pay for these losses and damages.

Poorer nations hoped that this mainly technical meeting would formally put loss and damage on the agenda for political leaders due to meet at COP27 in Sharm El-Sheikh in November.

But, as yet, that hasn’t happened as several countries are opposed.

If no progress is made, many participants say this would be a significant blow to unity ahead of COP27.

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