Nigeria, like other parties to the United Nations Framework Convention on Climate Change (UNFCCC) and other treaties aimed at stabilising greenhouse gas (GHG) emissions (i.e. the Kyoto Protocol and Paris Agreement), participated actively in the 2021 UN Climate Change Conference (COP26) which took place between October and November 2021 in Glasgow.
The goals of COP26 were for countries to renew their commitment to securing net-zero targets by mid-century and to keep the 1.5degrees target within reach; protect communities and natural habitats; mobilise finance to deliver on the first two goals; and to work together to deliver on the various goals.
During COP26, Nigeria committed to achieve net-zero by 2060, and barely a week after the conference, President Muhammadu Buhari signed into law the Climate Change Act, 20211 (the Act), which was passed by the National Assembly in October 2021.
The Act seeks to provide a framework for achieving low GHG emissions and to mainstream climate change actions into national plans and programmes.
We highlight key sections of the Act which you should be aware of and provide our thoughts on the Act.
Partner, PwC Nigeria
Tel: +234 (1) 27 11700
Senior Manager, PwC Nigeria