National

ECO2RUPPERS moves to raise $60bn to fight climate crisis in Nigeria 

A global climate and environmental outfit, ECO2RUPPERS has launched an initiative in Nigeria, aimed to mobilize $60 billion in climate finance annually through innovative domestic resource mobilization mechanisms.

The fund will be committed to delivering tangible environmental and social benefits to communities across the country.

In a statement released Sunday in Abuja, signed by the lead sustainable finance and circular economy expert, Victor Wilkinson Agih, said Nigeria is considered incredibly susceptible to the effects of climate change. 

According to Agih, Africa stands at a critical crossroads, facing the brunt of the climate crisis despite emitting the lowest levels of greenhouse gas emissions globally. Extreme weather events, rising sea levels, and prolonged droughts have wreaked havoc on communities and ecosystems, threatening livelihoods and exacerbating food insecurity. 

The statement said: “Today marks the dawn of a new era in Nigeria’s journey towards sustainability with the launch of the ECO2RUPPERS Nigeria initiative. Designed to tackle the pressing challenges posed by climate change while driving economic gains and empowerment, ECO2RUPPERS Nigeria is set to redefine the landscape of sustainable development in the country.

“Nigeria is host of one of seven of the continent’s largest coastal cities — Lagos, which is projected to grow by 40 percent by 2030, which makes the challenges more worrisome. 

“Since many communities in the Niger Delta have lost or fear losing their homes due to coastal erosion. Rising global temperatures are also predicted to endanger Nigerians due to an increasing frequency of heat waves. 

“Estimates suggest that more than 20% of the population will be exposed to heatwaves that are detrimental to human health. And the number of ‘very hot days’ is set to increase by about 90 days in most regions of the country.”

In response to these challenges, the statement said ECO2RUPPERS Nigeria will lead the charge towards a net-zero sustainability transition across the country.

 ECO2RUPPERS Nigeria aims to mobilize $60 billion in climate finance annually through innovative domestic resource mobilization mechanisms. By leveraging sustainable financing solutions through its sustainability action marketplace, the initiative will channel investments into projects that promote ecosystem restoration and conservation, clean energy development, sustainable agriculture, among other critical investment areas. With the aim of fostering environmental resilience and economic productivity.

“Through its Green4ward Nigeria Global Goals Marshalls program, ECO2RUPPERS is set to create 6 million green jobs across the nation. By harnessing the direct and indirect employment creation benefits of climate finance, the initiative seeks to empower communities and drive inclusive economic development.

“ECO2RUPPERS Nigeria is committed to delivering tangible environmental and social benefits to communities across the country. Advancing universal health coverage with 60 million healthcare wallets, incentivizing 60 million green volunteers, distributing 60 million clean cook stoves, and launching a nationwide plastic recycling program for 60 million tons of plastic, the initiative aims to improve livelihoods and foster sustainable lifestyles.

“The launch of the ECO2RUPPERS project comes at a pivotal moment for Nigeria, as the country ramps up its efforts to address climate change and achieve its Nationally Determined Contributions (NDCs). With an estimated national funding gap of $20.5 billion annually, ECO2RUPPERS represents a bold and ambitious response to this challenge.

“The ECO2RUPPERS Nigeria initiative stands as a testament the country’s commitment to sustainable development and environmental stewardship. By harnessing the power of innovation and collaboration, ECO2RUPPERS Nigeria is poised to catalyze positive change and jumpstart a greener, cleaner and more prosperous future for Nigeria and the Nigerian people.”

Back to top button