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Home Business & Finance Business

‘Lagos has made significant strides in integrating climate actions in investment opportunities, building resilience’

Freelanews by Freelanews
June 11, 2024
in Business
0

The Honourable Commissioner for the Environment and Water Resources, Tokunbo Wahab, has stated that Lagos State government has made significant strides in integrating Climate Actions in development investment opportunities and building resilience in the face of climate variability.

Also read: Hon. Commissioner Tokunbo Wahab addresses land degradation, desertification at World Environment Day 2024

Wahab made this known while he was delivering the welcome address at the ongoing 10th Lagos State International Climate Change Summit, themed “Accelerating Climate Finance and Championing Local Adaptation Initiatives,” commenced on June 11, 2024, at the Lagos Continental Hotel, Victoria Island.

This significant event marks a decade of collective efforts towards combating climate change and fostering sustainable development in Lagos State.

He highlighted the transformative journey of the summit over the past decade, noting its role as a platform for dialogue, collaboration, and innovation in addressing climate-related issues.

Wahab acknowledged the remarkable strides made in promoting renewable energy, implementing sustainable waste management practices, and integrating climate actions into Lagos State’s development agenda.

However, he also stressed the urgency of the current climate situation, referencing the global 6th Assessment Report (AR6) by the Intergovernmental Panel on Climate Change (IPCC). The report underscores the need for immediate, effective, and equitable climate action to mitigate losses and damages for both nature and people.

This year’s summit focuses on accelerating climate finance and championing local adaptation initiatives. The objective is to explore innovative ways to attract climate finance into the adaptation space and create resilient infrastructure.

Wahab emphasized the importance of mobilizing resources at an unprecedented scale to support the transition to a low-carbon economy and protect the most vulnerable communities from climate impacts.

Wahab called for accelerated efforts to mobilize climate finance for projects prioritizing local adaptation. He highlighted the need for investment in climate-resilient infrastructure, community empowerment, and enhanced disaster response capabilities.

He also emphasized the importance of incorporating the knowledge and experiences of vulnerable communities in shaping effective adaptation strategies.

As the summit progresses over the next three days, Wahab urged participants to remain steadfast in their commitment to safeguarding the planet for future generations. He expressed hope that the discussions would be fruitful, the actions impactful, and the collective resolve unwavering.

The 10th Lagos State International Climate Change Summit is not just a forum for discussion but a clarion call for action. With a focus on climate finance and local adaptation, the summit aims to turn the tide against climate change and build a sustainable, equitable, and resilient future for all.

The Honourable Commissioner for the Environment and Water Resources, concluded his address by extending a warm welcome to all delegates and wishing them fruitful deliberations.

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