President Muhammadu Buhari says Nigeria is ready to host the Secretariat of the Sahel Climate Fund, including equipping and provision of accommodation to the top management staff of the fund.
The “Sahel Climate Fund” is the financial body of the Sahel Region Climate Commission (SRCC).
The body is one of the three climate Commissions for Africa created in Marrakech, Morocco in 2016 at the Summit of African Heads of State and Government, organised at the initiative of the King of Morocco, on the sidelines of the 22nd Conference of the Parties (COP22) to the UN Framework Convention on Climate Change.
Speaking on Friday at the 2nd Heads of State and Government of SRCC during the 36th AU Summit in Addis Ababa, the President said as an active member of the Commission, Nigeria will support the operationalization of the secretariat toward effective implementation of climate change activities in the region.
He expressed concern that the availability and access to funds for the implementation of climate change activities, especially adaptation, remain major problems for the African region.
President Buhari, therefore, described the Sahel Climate Fund as an additional financial resource which is adequate and predictable for the implementation of the requirements of the Climate Change Convention and the Paris Agreement.
According to the Nigerian leader, the Fund will, among others, serve as a gateway to climate finance and investment strategy, finance the implementation of National Determined Contributions (NDCs) of member states and ensure effective participation of the Sahel Region in the global effort to curb greenhouse gas (GHG) emissions.
The Fund is also expected to mobilize required resources from member states, bilateral and multilateral partners, and private financial institutions.
‘‘Understanding the barriers to accelerated climate finance inflows and our climate related sectors, are perceived to be high risk investment destinations due to multilayered operational risks, the Sahel Climate Fund will serve as a gateway to climate finance and investment strategy that considers innovative and practical ways to overcome multiple risk impediments and sustainable financial support to Sahelian Countries.
‘‘In addition, the Sahel Climate Fund will be the necessary Climate Finance Mechanism that will be instrumental in financing the implementation of the NDCs of member states, contribute to strengthening the adaptation and resilience capacities of local communities along with their livelihoods, and ensure effective participation of the Sahel Region in the global effort to curb GHG emissions.
‘‘The Sahel Climate Fund will mobilize the necessary resources from member states, bilateral and multilateral partners, and private financial institutions to foster cooperation and coordinated actions among Sahel Region Climate Commission member countries to address climate change.”
He underscored the need for urgent and extensive action as well as broad international participation required to tackle climate change in Africa.
In his text circulated at the Summit, King Mohammed VI of Morocco warned that by 2030 no fewer than 118 million people in Africa will be directly threatened by extreme weather events.
Pledging support for the Commission, the Moroccan leader said his country has honoured its commitments made at the maiden conference by providing the Commission with ‘‘Capacity building, technical assistance and financial support for the preparation of feasibility studies to finalise its Climate Investment Plan.’’
The Sahel geo-climatic region comprises 17 countries stretching from the Atlantic to the Red Sea, including Nigeria, Benin, Burkina Faso, Cameroon, Cape Verde, Côte d’Ivoire, The Gambia, Guinea Conakry, Djibouti, Ethiopia, Eritrea, Mali, Mauritania, Niger, Senegal, Sudan and Chad.
PIAK
