Professor Chukwumerije Okereke, an expert in Climate Governance and Policy, has urged world leaders to ensure that COP29 becomes a decisive moment for advancing global climate action and increasing climate finance.
This was stated in a press release signed by Ugochukwu Uzuegbu, a Media and Communications expert at the Centre for Climate Change and Development, Alex Ekwueme Federal University, Ebonyi State, on Monday in Lagos.
Okereke warned that without a firm commitment to climate action, the world risks falling short of the critical 1.5°C temperature target set by the Paris Agreement.
He emphasized that there is a severe shortage of resources needed to confront the growing impacts of climate change disasters.
He called on developed nations to take the lead in getting global efforts back on track by mobilizing sufficient climate finance to meet the scale of the challenge, moving beyond mere rhetoric and broken promises.
Okereke highlighted that developing nations are the most affected and vulnerable to the global climate crisis, citing recent devastating floods in Bangladesh, Kenya, and Nigeria as examples.
He added that inequality, conflict, and development challenges exacerbate vulnerability to climate change.
Referencing reported data, Okereke projected that developing countries would need an estimated $5.8-5.9 trillion to implement their Nationally Determined Contributions (NDCs) by 2030.
He also noted that adaptation finance could reach $1.7 trillion annually by 2050.
Okereke stressed that the priorities set forth in the Allied Climate Transformation (ACT 2025) initiative were essential and non-negotiable.
He outlined four key focus areas:
Ambitious Climate Finance is Non-Negotiable: ACT2025 calls for COP29 to deliver a 1.5°C-aligned New Collective Quantified Goal (NCQG) that reflects the actual financial needs of climate-vulnerable nations. The funds must be accessible, concessional, and transparent.
Scaling Up Adaptation Efforts: ACT2025 urges COP29 to address the gaps and challenges in adaptation planning and implementation.
Responding to Loss and Damage with Adequate Support: ACT2025 demands that the new Fund for Responding to Loss and Damage must be fully funded and operational by COP29.
Accelerating Mitigation Ambition and Implementation: ACT2025 calls for countries to implement just, equitable, and rapid transitions away from fossil fuels, ensuring people-centered and just transitions toward net-zero GHG emissions.
Okereke highlighted the importance of ambitious NDCs in the upcoming updates, with G7 and G20 nations leading by example.
He also recognized China’s crucial role in global climate action, particularly through the greening of its overseas investments.
He emphasized that COP29 and the next round of NDC updates present key opportunities for China to continue demonstrating leadership, particularly as a major player in the Global South.
Okereke expressed confidence in China’s pivotal role in driving global progress toward a sustainable and equitable future.
He further noted that China’s leadership, especially its support for climate-vulnerable nations and its role with the G77 in establishing the Loss and Damage Fund at COP27, would be critical in ensuring success.
“The outcomes of COP29, and the decisions made by the global community this decade, will significantly influence the trajectory of our civilization and collective future,” Okereke concluded.
