Climate Financing And The Pursuit Of SDGs 7 And 13: A Strategic Pathway To Net-Zero Emissions In Nigeria

Abstract

Nigeria stands at a critical crossroads in its development trajectory, with
climate change presenting both profound challenges and opportunities for
sustainable growth. The nexus between climate financing and Sustainable
Development Goals (SDGs) cannot be understated, as the world transitions
towards a low-carbon economy, away from the environmental impacts of
fossil fuel. However, Nigeria is faced with a myriad of significant challenges
that include limited access to climate finance, limited institutional capacity and
inadequate infrastructure. This study explores the role of climate financing in
achieving a net-zero and sustainable future in Nigeria. Through the doctrinal
legal research method, the study examines the current state of climate
financing in Nigeria, identifies gaps and challenges, and proposes innovative
strategies for improvement. The study found that climate financing is crucial
for promoting the adoption of renewable energy technologies that enhance
energy efficiency and support climate change adaptation and mitigation
efforts. The study concludes that strict adherence to SDGs 7 and 13 can help
Nigeria achieve a net-zero and sustainable future. The study recommends an
increase in climate financing, improved institutional capacity, and effective
policy implementation in achieving a net-zero target.