Oxfam, an international organisation, has called on nations to honour their financial commitments made during the 27th Conference of Parties (COP27) convention on climate change.

The Oxfam Program Manager for Accountable Governance in Nigeria, Mr Henry Ushe, made the call at a two-day workshop organised by the Civil Society Legislative Advocacy Center, with the support of Oxfam in Port Harcourt.

NAN recalls that some developed countries had pledged $100 billion annually to support low and middle-income countries in their climate action efforts.

Oxfam said that the actual amount already delivered was low with much of the finance provided as loans which aggravated debt burdens in vulnerable countries

Ushe, however, stated that Nigeria had developed the gas master plan following its commitment to COP27 to transit energy to net zero by 2060 and to the Paris Agreement of accelerating climate action.

He explained that Nigeria had also passed the Climate Justice Act and established its secretariat to work with CSOs and other stakeholders to ensure the total implementation of the policy framework.

“But what we haven’t seen since then is the financial commitment to be able to drive through with all of this policy; what we need is the financing of all these plans.’’

Ushe said that was why they were calling on those who made financial pledges at COP27 to redeem them, ‘’while we hold our government to account, ensuring that the support is used judiciously.

“We are very optimistic about the safe transition because the country has put in place all the mechanisms that are needed, including a very robust gas master plan,” he said.


https://punchng.com/cop27-oxfam-calls-on-nations-to-redeem-financial-pledges/