Nigeria unveils to mobilize $3 billion per year for climate finance — Shettima at COP30
At the 30th United Nations Climate Change Conference (COP30) in Belém, Brazil, Nigeria unveiled a bold ambition to mobilize US$3 billion annually for climate and nature‑based investments. The pledge, delivered by Vice President Kashim Shettima on behalf of the government, is anchored in the newly adopted National Carbon Market Framework, together with the formal establishment of the Climate Change Fund.
According to Shettima, the funds will be channelled into “nature‑positive” projects such as community‑led reforestation campaigns, blue‑carbon (coastal and marine) restoration, sustainable agriculture, and other green‑growth initiatives.
These measures reflect Nigeria’s commitment under the Climate Change Act, 2021 to embed ecosystem restoration and conservation into national development strategy.
Shettima also used the platform to call on international partners to provide grant‑based financing, implement debt‑for‑nature swaps, and activate blue carbon markets (as envisaged under Article 6 of the Paris Agreement), stressing that Global South countries — which have contributed least to climate change — are bearing its heaviest costs and deserve justice through equitable funding.
Domestically, the framework and fund — backed by green legislation — aim to turn Nigeria into a hub for climate‑smart investments. Through initiatives such as the Great Green Wall Initiative and the Forest Landscape Restoration Plan, the government plans to restore degraded lands — including restoring millions of hectares by 2030 — while creating jobs and supporting vulnerable communities.
By positioning nature as a critical national asset and mobilizing both domestic and international resources, Nigeria aims to chart a sustainable path where economic growth, environmental preservation, and social equity go hand in hand.
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