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 was disclosed in a statement signed by Ugochukwu Uzuegbu, Media and Communications expert, Centre for Climate Change and Development, Alex Ekwueme Federal University, Ebonyi, on Monday in Lagos.
Mr Okereke said without decisive commitment to climate action, the global community may not be on track to meet the critical 1.5 degrees temperature 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 keep the world on track. He said this could be achieved by mobilising and providing enough climate finance to solve climate change challenges beyond the usual rhetoric and failed promises.
Mr Okereke stressed that developing countries were the worst hit and were vulnerable to the impact of the global climate crisis, as seen through devastating floods in Bangladesh, Kenya, and Nigeria in recent months.
He added that inequality, conflict and development challenges always heighten the vulnerabilities to climate change.
Mr Okereke, referencing reported data, projected that developing countries need an estimated $5.8 to $5.9 trillion to implement their national climate plans, the Nationally Determined Contributions (NDCs) up to 2030.
He added that adaptation finance could reach $1.7 trillion annually by 2050.
Mr Okereke said the Allied Climate Transformation (ACT 2025) call-to-action was non-negotiable.
Mr Okereke said 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 by greening its overseas investments.
Mr Okereke noted that COP29 and the next round of NDCs present critical opportunities for China to continue to showcase critical global leadership.
Mr 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 uniquely fosters unity and drives global progress toward a sustainable and equitable future.
Mr Okereke noted that this could be achieved through its support for climate-vulnerable nations, leveraging its role 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 civilisation and collective future,” Mr Okereke said.
(NAN)