Abuja — In keeping with the worldwide push to halt methane emissions, President Bola Tinubu has expressed his authorities’s dedication to finish gas-flaring within the nation.
He additionally unfolded a daring agenda for a greener Nigeria with the roll-out of 100 electrical buses aimed toward a sustainable and eco-friendly future for the nation.
That is coming as america Particular Envoy on Local weather, John Kerry, has introduced that over $1 billion in new grants has been mobilised since COP27 in Sharm el-Shiekh, Egypt.
President Tinubu made the declaration yesterday on the ongoing United Nations Local weather Convention (COP28) summit on methane and different non-greenhouse gases in Dubai, United Arab Emirates (UAE).
President Tinubu, who shared the platform with the President of COP28, Dr. Sultan Ahmed al-Jabar; america Particular Envoy on Local weather, Kerry, and the Chinese language Envoy on Local weather, Xie Zhenhue, instructed the worldwide leaders that Nigeria has already imposed heavy penalties for defaulters.
Praising the management of the UAE for the drive to scale back greenhouse gases, the president mentioned he was conscious of the necessity for members to make commitments to the objective of limiting the earth’s temperature improve by the top of the century.
His phrases: “Sitting right here on this room, I do know that we’ve got to commit ourselves. We’ve got been doing so earlier than right this moment. We’re dedicated to important steps to scale back methane emissions by making certain fuel flaring is eradicated. There’s a big penalty for that. There’s equally an enormous incentive to take action.
“The measures which are taken listed below are a welcome growth, little doubt about that.
“I’m with the management of the UAE for the dedication proven to date.
“We’re consolidating on fuel export, utilization domestically, and export to different international locations. I can guarantee you that we are going to be companions in progress to realize renewable vitality.
“We’re dedicated to an vitality combine; we’re offering cooking fuel for our massive inhabitants. We are going to proceed to try this.
“We’ve got signed off on the discount of methane. We are going to leverage new expertise and we hope that the 2 big nations and the Emirates will be capable of assist us,” Tinubu defined.
The President identified that the world’s greatest economies, the US and China, are the most important culprits in greenhouse emissions, stressing that the earth wants pressing therapeutic.
Whereas expressing delight that each international locations have been represented on the summit, he mentioned: “What I do know of Africa is the truth that de-risking in further funding and technological knowhow may be very crucial and the biggest economies which have benefitted immensely ought to do extra actual quick as a result of the earth wants therapeutic and wishes extra consideration.”
Talking earlier, Sultan al-Jabar pressured that the efforts being made show that success is feasible within the goal of limiting the earth’s temperature.
He noticed that the elimination of all CO2 gases could be performed with the mandatory cooperation and arduous work on the a part of the international locations.
Additionally talking, Kerry introduced that over $1 billion in new grants has been mobilised since COP27 in Sharm el-Shiekh, Egypt.
He expressed happiness that extra international locations have made methane pledge endorsements.
Based on him, “Earlier right this moment america finalised requirements to sharply scale back methane emissions from oil and fuel operations. And people efforts will obtain a virtually 80 per cent discount and is planning a rulemaking evaluate.
“We, america, are planning a rulemaking evaluate on methane emission requirements for landfills. America and the European Union launched a worldwide methane pledge two years in the past in Glasgow, with 100 international locations becoming a member of.
“At COP 27 in Sharm el-Sheikh, we have been in a position to develop the record of endorsements to 150 international locations. I am happy right this moment to announce new world methane pledge endorsements from Angola, Kenya, and Romania. And I am notably excited that Turkmenistan Kazakhstan joined yesterday and Kosovo President Costco is right here to affix right this moment. We’re working to show the pledge itself into motion.
“Over 86 international locations masking effectively over half of emissions have nationwide methane motion plans in place and we’re participating with our companions to develop them. And we’re launching thrilling new initiatives and partnerships together with reducing natural waste or low methane to assist some nationwide waste discount efforts around the globe.”
Based on him, President Biden had launched the methane finance dash on the April 2023 main economies discussion board he hosted on the White Home to boost $200 million to assist us go ahead.
“Properly, I am very happy to announce right this moment that america, the European Union, different governments, philanthropies, and the personal sector considerably exceeded that focus on. And collectively, we’ve got mobilised over $1 billion in new grant funding since COP27 for methane which has greater than tripled earlier annual methane grant funding.
“After which we’ll leverage the rating in undertaking funding. And these funds are going to assist chopping methane emissions throughout all sectors with a deal with low- and middle-income international locations.
“As a part of this effort, we’ve got a bunch of oil and fuel corporations which have stepped up and determined to take a management function in serving to to cope with this job on a neighborhood foundation.”
In the meantime, President Tinubu additionally yesterday declared that Nigeria is taking a big step in direction of a sustainable and eco-friendly future by introducing a pioneering initiative to deploy a fleet of 100 electrical buses.
The president spoke at a high-level assembly with stakeholders and traders on the Nigeria Carbon Market and Electrical Buses Rollout Programme in Dubai, United Arab Emirates, on the sideline of the COP28 local weather summit.
President Tinubu defined that the strategic initiative is aimed toward considerably lowering Nigeria’s carbon footprint and modernising the nation’s transportation techniques as half of a bigger effort to place Nigeria and Africa because the pioneering frontier of inexperienced manufacturing and industrialisation with a deal with pure fuel as a transition gas alongside different renewable vitality sources.
To spearhead this transformative plan, the President introduced the appointment of the Government Chairman of the Federal Inland Income Service (FIRS), Mr. Zacch Adedeji, and the Director-Basic of the Nationwide Council on Local weather Change (NCCC), Mr. Dahiru Salisu, to co-chair the Nigeria Carbon Market Activation Plan.
“This initiative stands as a testomony to our dedication to environmental stewardship as clearly exemplified via our collaboration with the Africa Carbon Market Initiative. Our visionary plan is a strategic guidepost, directing Nigeria in direction of turning into an investment-friendly vacation spot for carbon market investments.
He assured potential traders that the initiative transcends being a mere pilot undertaking.
“As we unveil our initiatives, I problem different nations to emulate our strides in mapping out their sustainable futures with a transparent understanding that Africa is a beacon of revolutionary options to climate-related challenges.
“Nigeria’s plans for a greener and cleaner economic system can function an inspirational narrative for nations worldwide. Our complete strategy, rooted in visionary management and pragmatic motion supported by our technical companions, is poised to change into a blueprint for international locations aspiring to additionally develop and catalyse their markets for sustainable development,” the President additional mentioned.
Earlier in his remarks, FIRS Chairman, Adedeji acknowledged the visionary management of President Tinubu because the guiding pressure behind Nigeria’s dedication to harnessing its huge carbon potential.
Adedeji pledged the total dedication of the committee to drive the implementation of environment friendly insurance policies and frameworks to realize sustainable carbon market development.