Business is booming.

Tinubu Engages UN, Non-Aligned Movement in Joint Effort to Secure $1trn Climate Finance

By Faridat Salifu

President Bola Tinubu has called on member states of the Non-Aligned Movement (NAM) to collaborate with the United Nations (UN) to advocate for developed countries to provide $1trillion in climate finance to developing countries.

The funding, according to Tinubu will fulfill the commitment made by developed nations to offer $100 billion per year in climate finance.

The Nigerian President spoke at the 19th Summit of Heads of State and Government of the Non-Aligned Movement (NAM), which took place recently in Kampala, Uganda.

He highlighted the importance of the summit’s theme, “Deepening Cooperation for Shared Global Affluence,” especially in the current context of wars, proliferation of small arms and light weapons, and the threat of nuclear weapons and emphasized the need to recommit to the foundational principles of the Non-Aligned Movement to assure global peace and security.

Tinubu posited that developing countries have been proactive in addressing climate change, while striving to uphold the principle of common but differentiated responsibilities in global climate action.

He emphasized the critical importance of access to affordable climate finance and technologies for decisive progress.

Furthermore, Tinubu extended Nigeria’s support to the NAM member-states’ position in condemning the ongoing destruction of lives and property in Gaza.

He urged for an immediate, durable, and sustained humanitarian truce in the region, emphasizing the need to uphold international humanitarian law to ensure civilians’ safety and well-being.

Tinubu also called for urgent practical actions to scale up success and lessons learned, highlighting the necessity of working together to tackle global challenges and touch the lives of the most vulnerable in society.

He stressed that shared prosperity is the ultimate guarantee for peace and called for equitable access to capital for developing countries to address pressing global challenges such as climate change, conflict, terrorism, and inequality.

In addition, Tinubu emphasized the need for a financing mechanism and equitable capital market access that can provide adequate financial resources to the Global South.

He underscored the importance of collaboration between member-states to achieve sustainable development goals.

The summit, chaired by Ugandan President Yoweri Kaguta Museveni, was attended by many presidents and heads of governments.

As the largest gathering of countries after the United Nations General Assembly, the NAM summit serves as a platform for coordinating efforts and advocating for crucial global issues.

 

Quality journalism costs money. Today, we’re asking that you support us to do more. Support our work by sending in your donations.

The donation can be made directly into NatureNews Account below

Guaranty Trust Bank, Nigeria

0609085876

NatureNews Online

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Footer Image