Participants at the just concluded 10th Lagos International Climate Change Summit have advocated for the establishment of a Lagos Climate Innovation Fund to support climate resilience projects.
This is contained in a communique issued by the Director, Public Affairs, Lagos State Ministry of the Environment and Water Resources, Mr Kunle Adeshina on Sunday in Lagos.
Several key recommendations were made in the communique that will engender a smart and resilient Lagos .
Climate Resilient Infrastructure:
The communique urged the government to provide funding for infrastructure to protect urban areas from climate hazards like floods, storms, and heatwaves.
Climate Finance Mechanisms:
It called for the development of mechanisms to access and scale up climate finance through bankable adaptation projects, working with institutions like the African Development Bank (AfDB) for concessional and blended financing, and risk mitigation to attract private capital.
In the area of blended financing, the communique called for the utilization of both private capital investment and public or philanthropic funding.
Water Works Rehabilitation
Participants at the summit called for the completion of the ‘Adiyan water works phases’ to enhance potable water supply as an adaptation measure.
Sustainable Transport:
The partcipants called for the continued support and funding for the Bus Rapid Transit System (BRT) and multi-modal transport strategy of the state.
Climate Financing Expansion:
Participants made a strong business case for adaptation, expanding investment instruments, and using carbon markets for climate financing.
Global Collaboration: Enhancing knowledge sharing and partnerships with global cities.
Capacity Building
Participants underscored the importance of creating an enabling environment to unlock domestic private capital and incentivizing private sector innovation.
Mangrove Restoration
Another key area that demand the attention of the government is the restoration of mangroves to create buffer zones, mitigate coastal flooding and erosion.
Circular Economy
Participants want a sustained tempo in the promotion of circular economy practices in the state to reduce greenhouse gas emissions and efficient use of resources.
Health Sector Integration:
Participants at the summit called for the integration of the health sector into the State Climate Action Plan to ensure environmental sustainability and public health protection.
Strengthening Primary Healthcare
The summit called for the provision of a comprehensive, accessible, community-based healthcare services, especially for vulnerable groups.
The summit with the theme “Accelerating Climate Finance and Championing Local Adaptation Initiatives,” took place from June 11-13 at the Lagos Continental Hotel, Victoria Island.
