Michael Olugbode in Abuja
Minister of Environment, Malam Balarabe Lawal, has said swift and decisive actions were needed to mitigate the adverse effects of climate change.
The minister made the statement on yesterday while delivering a speech at the 17th meeting of the Council of Environment in Abuja.
He decried that “Climate change is threatening ecosystems, livelihoods, and biodiversity, environmental degradation disproportionately impacts marginalised communities, exacerbating inequalities and perpetuating social injustices.
“We must redouble our efforts to mitigate greenhouse gas emissions, embrace renewable energy solutions, and foster sustainable practices across all sectors.
“Mobilising more financial inflow for environmental sustainability is essential because it allows for the allocation of resources towards projects and initiatives aimed at protecting and preserving the environment.
“As we are all aware, environment financing is capital intensive, to mobilise more financial inflow for environmental sustainability. There is the need to implore innovative financing mechanisms, such as Green Bonds, Carbon Pricing, and Public-Private Partnerships,” he said.
Noting that this would help in generating the resources needed for effective environmental protection and conservation efforts, the Minister added: “I therefore urge members of this council to intensify exploration and implementation of financing mechanisms at their disposal.
“As we convene amidst pressing global challenges, from climate change to biodiversity loss, our duty as custodians of the environment has never been more paramount. Each decision we make within these walls reverberates far beyond, shaping the health and sustainability of our planet for generations to come.”
On his part, Minister of State for Environment, Dr Iziaq Salako, in an address of welcome stated that the need to galvanise more financial windows for environmental sustainability efforts was not just an aspiration but a commitment that would define our era.
