Climate finance: $800m loss fund inadequate — FG

By Folarin Kehinde
ABUJA — The Federal Government has said about $800 million is currently available in the international Loss and Damage Fund, describing the amount as inadequate to meet the financial needs of developing countries.
The Minister of Environment, Balarabe Lawal, disclosed this on Thursday in Abuja at the launch of the third edition of the Subnational Climate Governance Performance Ratings and Ranking of Nigeria’s 36 states.
Lawal said although the fund had begun accumulating resources, its current size remained far below the financial requirements of developing countries and commitments previously made by developed nations.
He said Nigeria’s climate action at the su...