Governor Babajide Sanwo-Olu of Lagos State emphasised the urgent need for continuous and enhanced financing to combat climate change challenges during the closing ceremony of the 10th Lagos International Climate Change Summit on Thursday. Represented by his Deputy, Dr. Obafemi Hamzat, the governor stressed the importance of collaborative efforts among governments, financial institutions, and international organisations to bridge existing financing gaps.
Highlighting the summit’s theme, “Accelerating Climate Finance and Championing Local Adaptation Initiatives,” Governor Sanwo-Olu underscored the necessity of directing resources towards projects that deliver tangible benefits for communities and ecosystems. He pledged his administration’s commitment to fostering a conducive environment for climate finance and local adaptation initiatives, ensuring alignment with expert insights and shared expertise.
Sanwo-Olu emphasised the inclusivity of climate action, advocating for the empowerment of marginalised and vulnerable groups, including women, youths, and indigenous peoples, in decision-making processes that affect their lives. He reiterated the importance of capacity building, knowledge sharing, and the development of adaptation strategies at the local level, where the impacts of climate change are most deeply felt.
The governor also addressed the significance of strengthening policy frameworks and regulatory environments to support effective climate action, emphasising the role of innovation and collaboration in achieving resilience and sustainability.
Experts at the summit discussed innovative financing mechanisms such as green bonds and climate insurance, highlighting the critical need for a systemic shift in deploying financial resources for climate initiatives. Governor Sanwo-Olu’s call for increased climate financing reflects Lagos State’s proactive stance in addressing environmental challenges while fostering a resilient and sustainable future for all residents.
Earlier remarks by Mr. Tokunbo Wahab, the Commissioner for Environment and Water Resources, underscored the summit’s role in mobilising proactive measures to protect Lagos residents and their environment amidst unique challenges posed by climate change.
This summit serves as a pivotal platform for shaping policies and strategies aimed at safeguarding lives and property in Lagos State, amidst its dynamic coastal environment surrounded by water bodies like the Atlantic Ocean.
