The National Council on Climate Change Secretariat (NCCCS) has held a Two days Hybrid Stakeholders Engagement on Climate Change Fund.
The two day event brought together practitioners and professionals in climate change.
It was aimed at building a robust governance design structure for NCCF, identify key elements of its operational framework, foster shared understanding of its role of achieving Nigeria’s climate action goals and develop a preliminary framework finance taxonomy.
The Stakeholders engagement looked at climate finance and taxonomy, a platform that can identify and promote areas that climate investors can invest in.
The two days hybrid events feature presentation and syndicate discussions.
Day one session was moderated by the DG/ CEO Dr. Nkiruka Maduekwe featured a presentation by Abdul Olafipo (UK/NAIf) miss Nana Madugu Dr Obi Oguchukwu on the element of fit for purpose climate fund. The conversation ended on a dive for a deep architectural needed for climate fund.
Day two have a pennel season moderated by Ms Adeshola Effiway with Mr. Obi Oguchukwu and Dr Jubril Adeojo ( NDC Partnership embedded climate change adviser) as panelists.
The discussion addresses the importance and focus on tailoring Nigeria climate finance taxonomy to align with both national economy realities and braider African initiatives.
The discussion continues on the necessity for unique Nigeria specific framework accomodating the country use of gas as transitional fuel and the critical importance of classifying agriculture finance to attract investment.
The panelist emphasized the commercial viability of climate change project, the need for stakeholders engagement and the development of comprehensive pipeline project that resonate with Nigeria climate change goals.
Challenges such as reduce engagement from major banks, and imperative creating of enabling environment for investors were addressed along with robust monitoring and verification system.
The session concluded with consensus long-term nature of taxonomy development and action items aimed at that fostering investment Climate resilient and adaptation initiative.
She further encouraged the participants for meaningful discussions to come up with a sustainable blue print that cannot only work for Nigeria alone but across Africa.
