By Fabian Ekeruche
Prof. Chukwumerije Okereke, a global expert in Climate Governance and Policy, has called on global leaders to make COP29 a decisive moment for global climate action for improved climate financing.
This is contained in a statement signed by Mr Ugochukwu Uzuegbu, Media and Communications expert, Centre for Climate Change and Development, Alex Ekwueme Federal University, Ebonyi State on Monday in Lagos.
Okereke said that without decisive commitment to climate action, the global community may not be on track to meet the critical 1.5 degrees temperatures target set by the Paris Agreement.
According to him, there is an acute lack of resources to face the scale of impact brought on by climate change disasters.
He called on developed countries to take the lead and help put the world back on track.
He said this could be achieved by mobilising and providing climate finance that is enough for solving climate change challenges beyond the usual rhetoric and failed promises.
The don stressed that developing countries were worst hit and vulnerable to the impact of the global climate crisis as seen through devastating floods in Bangladesh, Kenya and Nigeria in recent month
.
He added that inequality, conflict and development challenges always heighten the vulnerabilities to climate change.
Okereke, referencing reported data, projected that developing countries need an estimated 5.8-5.9 trillion dollars to implement their national climate plans, the Nationally Determined Contributions (NDCs) up to 2030.
He added that adaptation finance could reach 1.7 trillion dollars annually by 2050.
Okereke said that the Allied Climate Transformation (ACT 2025) call-to-action was non-negotiable.
He listed the four priorities areas to include:
” Ambitious Climate Finance is Non-Negotiable: ACT2025 demand that COP29 must deliver an ambitious 1.5°C-aligned New Collective Quantified Goal (NCQG) that reflects the real financial needs of climate-vulnerable nations and must be accessible, concessional and transparent.
” Scaling Up Adaptation Efforts; ACT2025 made bold that COP29 must unpack the gaps and challenges in adaptation planning and implementation if it must make sense.
“Responding to loss and damage with sufficient action and support: ACT2025 demanded that new Fund for Responding to Loss and Damage must be adequately funded and fully operational by COP29
” Accelerating Mitigation Ambition and Implementation: ACT2025 demanded that countries must implement equitable and rapid transitions away from fossil fuels with clear pathways to net-zero GHG emissions, while ensuring that their phaseouts are conducted through people-centered, just transitions.”
Okereke said that ACT2025 was desirous to see ambitious NDCs reflected in the upcoming updated NDCs 3.0 with G7 and G20 countries leading by example.
He acknowledged China’s unique and important role in global climate action and justice through greening of its overseas investments.
He noted that COP29 and the next round of NDCs present critical opportunities for China to continue to showcase critical global leadership .
Okereke expressed confidence that China held a pivotal role in driving these results, positioning itself as a leader of the Global South and a key player in global climate governance.
He emphasised that China has a unique role to play in fostering unity and driving global progress toward a sustainable and equitable future.
He noted that this could be achieved through its support for climate-vulnerable nations leveraging on the role it played with the G77 in calling for and establishing a loss and damage fund at COP27.
“The outcomes of COP29 and the decisions we make as a global community this decade will massively impact the trajectory of our civilization and collective future,” Okereke said. (NAN)
