Buhari urges developed nations to establish loss and damage finance facility | TheCable

November 15, 2022 3:57 PM

However, despite making it into the agenda at the opening plenary of COP27, developed countries seem to pay little attention to the establishment of a finance facility for loss and damage. “The economic cost for Loss and Damage for Africa is estimated at almost USD 2 Trillion excluding non-economic losses. Developed nations must not ignore the demand from developing nations to establish a Loss and Damage finance facility to help developing nations recover from the adverse effects of climate change, particularly the devastating floods, worsening desertification, and rising sea levels.

Speaking on Nigeria’s achievements since after COP26, Buhari said Nigeria has created enabling policies to advance projects such as renewable solar, independent power plants and renewable energy .

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