A civil society organisation, Peace Point Development Foundation, PPDF has urged the Federal government and the Akwa Ibom State government to ensure transparency, fairness, and accountability in the disbursement of the incoming Loss and Damage Funds.
This was part of the communiquรฉ issued at the end of the Conference of Parties 29, COP29, debriefing meeting, held in Uyo, the capital of Akwa Ibom State, and organised by PPDF in preparation for COP30.
The organisation urged sub-national governments, community actors, and other CSOs to position themselves to monitor the inflow and management of the funds. They advised that, once received, the funds should be utilised to mitigate the impact of climate change and gas flaring in oil-ravaged communities.
The meeting also emphasised the need to remove the World Bank from hosting the Loss and Damage funds under COP, citing its continued financing of fossil fuel extraction. Additionally, they called on the Akwa Ibom State government to formulate a Climate-Responsive Budget to address the stateโs climate challenges.
Speaking on the upcoming COP30 in Brazil, PPDF decried the increasing influence of fossil fuel corporations and their funding of previous COPs, lamenting: โThey influence the agenda, they influence the conversations, and they influence the outcome of discussions. That is why we have been unable to take substantive action towards phasing out fossil fuels at all levels.โ
It also called for greater collaboration between the Akwa Ibom Ministry of Environment and civil society organisations to develop a joint action plan and ensure active participation at COP30.
The meeting, while describing the United Statesโ withdrawal from the Paris Agreement as an injustice against the world, urged the highly industrialised Global North to take responsibility for reducing fossil fuel emissions and provide financial support to developing nations to aid their transition to sustainable and cleaner energy sources.
The communiquรฉ read in part: โThe state government should establish a transparent and accountable mechanism to receive the Loss and Damage funds for vulnerable communities on the frontline of climate impact.
โIt is not appropriate for the World Bank to host the Loss and Damage funds, given its ongoing financing of fossil fuel extraction.
โThe impact of climate change is already evident, with rising temperatures and the submersion of many shoreline communities along the Atlantic Ocean, such as Itak Abasi in Ibeno Local Government Area.
โAkwa Ibom State is at the frontline of climate impact due to its coastal boundary with the Atlantic Ocean. Therefore, the sub-national government must take climate change seriously.
โThe $300 billion allocated for climate finance falls significantly short of the $1.3 trillion expected at COP29.โ
Story was adapted from Daily Post.
