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President Muhammadu Buhari has revealed that 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.
President Buhari made this revelation while speaking at the 2nd Heads of State and Government of the Sahel Region Climate Commission (SRCC), during the 36th AU Summit in Addis Ababa, Ethiopia, on Friday.
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.
In a statement released by his Senior Special Assistant on Media and Publicity, Mallam Garba Shehu, the President stated that as an active member of the Commission, Nigeria would support the operations of the secretariat, toward achieving 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.
He, 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.
The President added that, “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.
“We are looking forward to a positive and sustainable view concerning provision of adequate and predictable finance, adaptation, loss and damage, capacity building, development and deployment of necessary support to the Sahel Region Climate Commission so as to ensure comprehensive activities towards mitigating and adapting to climate change and sustainable development in the region.”