LAGOS/Nigeria: Lagos State Governor Babajide Sanwo-Olu has called for continuous and increased climate financing to tackle the challenges of climate change. Speaking through his Deputy, Dr. Obafemi Hamzat, at the closing ceremony of the 10th Lagos International Climate Change Summit held in Victoria Island, Sanwo-Olu emphasized the need for governments, financial institutions, and international organizations to collaborate in bridging the financing gap.
Sanwo-Olu stressed the importance of directing resources towards projects that provide tangible benefits for communities and ecosystems. “We are committed to fostering a supportive environment for climate finance and local adaptation initiatives, ensuring that all efforts are aligned with the insights and expertise shared,” he stated.
He commended the participants’ dedication to transforming discussions into concrete actions that will benefit communities and the environment. He emphasized that accelerating climate finance is not just about mobilizing funds but ensuring that these resources reach those most in need. “It is about creating financial instruments that are accessible, equitable, and effective,” he added.
Experts at the summit highlighted innovative financing mechanisms, such as green bonds and climate insurance, and the importance of leveraging both public and private sector investments. The discussions underscored the necessity of a systemic shift in how financial resources are perceived and deployed for climate action.
The Governor reaffirmed the government’s commitment to capacity building and knowledge sharing, empowering local communities with the skills, tools, and knowledge needed to develop and implement adaptation strategies. He also emphasized the importance of strengthening policy frameworks and regulatory environments to support climate action, with a steadfast commitment to inclusivity and equity.
“Climate action must be inclusive, ensuring that marginalized and vulnerable groups are not left behind,” Sanwo-Olu said. “Women, youth, indigenous peoples, and other underrepresented communities must have a voice in the decision-making processes that affect their lives and livelihoods.”
