President Bola Tinubu has asked developed countries to urgently provide $1 trillion climate finance to fulfil their promise of $100 billion to developing nations to upscale climate change adaptation.
Tinubu spoke at the 19th summit of heads of state and government of the Non-Aligned Movement (NAM) in Kampala, Uganda.
Speaking on addressing climate change, the president said developing countries are moving forward on the issue with courage and ambition.
He, however, said finance and technologies are critical tools to manage climate change.
Tinubu was represented by Atiku Bagudu, minister of budget and economic planning at the summit, according to a statement by Folasade Boriowo, director of information of the ministry on Saturday.
“Developing countries have striven in the last two decades under the United Nations Framework Convention on Climate Change (UNFCCC) process to make common but differentiated responsibilities a basic principle of global climate action,” the president said.
“To move forward decisively, access to affordable climate finance and technologies is critical.”
Tinubu urged NAM to work in collaboration with the United Nations to “stress the need for the developed countries to provide climate finance of $1 trillion at the earliest to fulfil their promise of $100 billion annual commitment to climate finance to developing countries”.
At COP15 in Copenhagen in 2009, developed countries decided to commit to a goal of jointly mobilising $100 billion a year by 2020 to address the needs of developing countries.
The commitment was formalised at COP16 in Cancun and COP21 in Paris, it was reiterated and extended to 2025.
