Climate Watch: AfDB will increase climate finance to $25bn by 2030, says Akinwumi Adesina

Despite directly impacting our communities, health, and livelihoods, climate-related reports usually take a back seat to dominant news beats like politics and business. 

Climate Watch aims to ensure you never miss important stories on climate change and actions being taken toward limiting its impact.

Here is a round-up of last week’s climate stories:

• Last week, the 10th edition of the Lagos international climate conference opened with a call for resilient development to reduce greenhouse gas emissions. Speaking at the event on June 11, Tokunbo Wahab, the Lagos commissioner for environment and water resources, said the summit aimed to explore ways the state can attract climate finance into its adaptation space and create resilient infrastructure. Wahab called on residents to accelerate efforts towards climate financing for local adaptation initiatives. Read more here.
• At the conference, the Lagos state government launched its climate adaptation and resilience plan (LCARP) and its climate change mainstreaming strategy. Babajide Sanwo-Olu, governor of Lagos, who was represented by Obafemi Hamzat, his deputy, said the state is taking significant steps towards climate adaptation. Sanwo-Olu said the plan would be a guideline for Lagos to align with its climate change mitigation and adaptation strategy. The governor reiterated the commitment of his administration to ensuring that the state reduces its carbon footprint and emissions through the waste-to-energy initiative. Read more here.
• The European Centre for Disease Prevention and Control (ECDC) says climate change is increasing the spread of mosquito-borne diseases in Europe. In its report published on June 11, the ECDC said cases of dengue fever, West Nile virus, chikungunya virus, and Zika virus are rising significantly. The agency said Aedes albopictus, an invasive species of mosquito, has been discovered in 13 EU countries, including France, Spain, and Greece. ECDC said warmer temperatures due to climate change are creating favorable conditions for mosquitoes to spread. Find out more here.
• BudgIT, a civic-tech non-profit organisation, says the federal government needs to prioritise strict coordination and implementation of climate change projects. Gabriel Okeowo, BudgIT’s country director, spoke at a stakeholders’ event in Abuja on June 12. Okeowo said the implementation of climate change projects will help promote data generation, monitoring and evaluation, maintenance, and tracking of commitment progress. He said this is the right time for Nigeria to improve its preparedness in budgeting and the implementation of projects. Read more here.
• Akinwumi Adesina, president of the African Development Bank (AfDB), says Africa loses between $7 billion and $15 billion annually due to climate change. Adesina spoke in an interview with the BBC. He said Africa’s economy and agriculture are adversely affected by climate change, despite contributing only three percent of global emissions. Adesina said the AfDB would increase its climate finance to $25 billion by 2030 to build resilience and support vulnerable countries. He said the bank’s financial innovations would play a crucial role in supporting climate adaptation initiatives. Read more here.
• The National Emergency Management Agency (NEMA) says 11 out of 17 LGAs in Abia would be affected by flooding. Zubaida Umar, NEMA’s director-general, spoke on June 13 at the downscaling and sensitisation of the 2024 flood early warning strategies in Umuahia, the capital of Abia. Umar, who was represented by Martins Ejike, acting director of human resource management at NEMA, said the state was predicted to fall within the moderate flood risk areas. The NEMA boss said the LGAs to be affected include Aba south, Aba north, Osisioma Ngwa, Ukwa west, Umuahia north, Umunneochi, among others. Read more here.