$142m Needed to Tackle Global Warming – Minister of Environment

$142 million US

dollars is needed by Nigeria
between now and 2030 to finance its Intended
Nationally Determined Commitment ( INDC)
toward reducing emission and low carbon for an
improved environment.
Esther Agbarakwe, Special Assistant to the
Minister of Environment on Communications ,
revealed this in a statement on Saturday after a
stakeholders’ meeting .
“ The resource needed to finance the NDC is put at
USD142 million between now and 2030 .
“ The forum is part of a continuing collaboration
between the Ministry of Environment and the
Ministry of Finance to explore and develop a
product that can leverage and channel resources
towards viable Green projects.
“ Also, it can contribute to the achievement of the
nation’ s development objectives , ’’ Agbarakwe
quoted the Minister of Environment, Amina
Mohammed .
The special assistant also recalled that in May,
the minister was presented with a proposal by
the Nigerian Stock Exchange ( NSE) in Lagos on
the issuance of green bonds in Nigeria.
She also added , “ Green bonds have been the
subject of increasing government, investor and
media interest, and expectations , driven by the
prospect of matching large low‑ carbon investment
requirements with the trillions of dollars in global
bond markets held by institutional investors . ’’
Agbarakwe said participants at the forum were
drawn from Federal Ministries of Finance, Budget
and National Planning , Trade and Investment ,
Nigerian Stock Exchange ( NSE ) , Debt
Management Office ( DMO ) , and Central Bank of
Nigeria ( CBN) .
Others, she said were Securities and Exchange
Commission ( SEC ) , National Assembly , Africa
Finance Corporation , World Bank , UNEP , UNDP ,
McKingsey and Company , Chapel Hill Denham ,
Stanbic IBTC , DFID /NIAF and other private
sector representatives.