COP27: Nigeria To Get £95m As UK Raises Climate Adaptation Budget
...Sidelining trade policies will worsen climate change – Okonjo-Iweala
The United Kingdom has said Nigeria will get a £95 million investment fund to support climate-resilient agriculture (CRA) in the country.
This is as director-general of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, emphasised that climate financing cannot be effective if trade policies are ignored.
Speaking at the COP27 climate conference in Egypt yesterday, Okonjo-Iweala described the gap between trade policies and climate adaptation as “a big missing piece.”
CRA uses existing natural resources through crop and livestock production systems to achieve long-term higher productivity and farm incomes under climate variabilities.
The UK government made the new commitment while announcing an increase in the climate adaptation budget to £1.5 billion by 2025.
“In Nigeria, the UK will provide a £95 million investment to support the development of climate-resilient agriculture programmes, for example through scaling up heat tolerant crop varieties,” a statement from the UK reads.
“The funding will support more than four million people, including two million women, to increase productivity while reducing emissions.”
James Cleverly, UK’s foreign minister, said the budget was scaled up to support developing countries facing the devastating impact of climate change, to adapt effectively.
At the COP27 climate conference in Egypt on Monday, Cleverly said the UK was delivering on the commitments made at COP26 in Glasgow and urged other countries to do the same.
The UK had pledged £290 million at COP26.
The new budget commitment was announced in a session with the theme ‘Accelerating adaptation in Africa’, which aims to support the international community to make COP27 a critical moment for increasing climate financing in Africa.
“The Glasgow climate pact gave the world the tools to limit the rise in global temperature to 1.5 degrees and build a secure and sustainable future,” Cleverly said.
“Now is the time for all countries to step up their action on climate change and deliver the tangible change needed.
“The UK will continue to play a leading role in this mission. The funding we have announced will support countries which are facing the devastating impact of climate change, to adapt effectively.”
Cleverly said Africa would be prioritised in the climate financing commitment, adding that the UK has partnered with the African Development Bank (AfDB) to open up a new climate finance window that Africa can benefit from.
He said about £250 million has already been contributed to the window.
Antonio Guterres, the United Nations secretary-general, called for an accelerated effort by world leaders to develop an effective roadmap to increase climate action.