Connect with us

Business

COP31: Climate, health take centre stage as funders mobilise over $375 million

info

Published

on

Cop31 venue unfccc 1200x675.jpg

Climate change and its sweeping impact on human health are expected to feature prominently in discussions at the ongoing 31st session of the United Nations Climate Change Conference of the Parties (COP31) in Antalya, Türkiye, as global health and climate funders mobilise more than $375 million to address climate-related health challenges.

The funding, announced at the opening of the conference on Monday, is expected to support efforts to ramp up adaptation and mitigation measures, particularly in vulnerable communities at the mercy of extreme heat, air pollution, climate-sensitive infectious diseases and other health risks linked to global warming.

The announcement comes amid fresh warnings from international climate and health pundits that rising global temperatures, worsening extreme weather events and soaring greenhouse gas concentrations are heaping unprecedented pressure on public health systems.

In Nigeria and several other countries worldwide, surging temperatures have fuelled public health concerns in recent years. The emergence of El Niño—a natural climate pattern marked by the warming of ocean surface temperatures in the central and eastern tropical Pacific Ocean —is also stoking worries among world leaders.

Speaking at the opening ceremony, Simon Stiell, executive secretary of the UN Climate Change, said the world is witnessing dangerous heat levels that expose hundreds of millions of people to extreme temperatures.

“As today’s important data from the WMO shows, the world is getting dangerously hot. Hundreds of millions of people are exposed to extreme heat across Southern Asia,” Mr Stiell said.

PT WHATSAPP CHANNEL
Dangote Refinery AD

He said heatwaves during the Northern Hemisphere’s summer broke temperature records and killed an estimated 50,000 people across Europe.

According to him, climate change has evolved into a global health crisis, with consequences ranging from toxic air pollution and extreme heat to climate-related disasters that overwhelm health systems and critical infrastructure.

Climate crisis is a global health emergency

Mr Stiell identified the effects of rising temperatures on pregnancy, newborns and maternal health as another emerging health disaster linked to climate change.

He attributed the worsening situation to continued dependence on fossil fuels and deforestation, warning that the consequences are becoming increasingly dangerous for vulnerable populations.

“The impacts of rising heat on pregnancy, newborns and maternal health are another unfolding health disaster which has the fingerprints of the climate crisis all over it,” he said.

He added that health will remain central to COP31 discussions, guided by Türkiye and Australia, building on the progress made at COP30 in Belém, Brazil.

The UN climate chief also highlighted the Climate & Health Funders Coalition, which he said has already awarded more than $200 million to back climate and health interventions before the latest funding announcement.

Mr Stiell said practical solutions, including electrification and the transition to clean energy, are crucial to reducing climate-related health risks and the economic pressures associated with fossil fuel dependence.

He urged governments to accelerate the transition to cleaner energy, warning that continued reliance on fossil fuels will expose households, businesses and governments, including health systems, to soaring costs.

WMO: Global temperatures set to rise further

Also speaking, Celeste Saulo, the secretary-general of the World Meteorological Organisation (WMO), said the organisation’s State of the Climate Update 2026 presented fresh evidence of an accelerating climate crisis.

She remarked that the past 12 years have been the warmest on record, while the past four years, including 2026, are the four warmest years recorded.

According to her, the global average temperature between January and September 2026 was approximately 1.47 degrees Celsius above the pre-industrial average.

Ms Saulo observed that temperatures could rise further before the end of the year due to a strong El Niño event, adding that its greatest impact on global temperatures is likely to be felt in 2027.

She said the current El Niño is unusually strong, with forecasts indicating that sea surface temperatures in the tropical Pacific could approach four times the threshold used by the WMO to declare an El Niño event between November 2026 and January 2027.

The WMO chief also disclosed other alarming indicators, including ocean heat touching a record high for the tenth year in a row and sea levels jumping to unprecedented levels.

She said rising sea levels are increasing the risks facing approximately 900 million people living along low-lying coastal areas.

Ms Saulo added that millions of people experienced dangerous heat in 2026, contributing to tens of thousands of excess deaths in Europe alone, while India, Pakistan and large parts of Asia and North America also experienced severe heatwaves.

She further cited devastating floods in parts of South America and Africa, droughts across parts of Asia, the Pacific and Central America, and catastrophic high-mountain disasters in China and Nepal.

Despite the worsening situation, she said progress is being made in strengthening early warning systems.

According to her, the number of countries reporting multi-hazard early warning systems increased from 56 in 2015 to 136 in 2025.

She urged governments at COP31 to prioritise sustained investments in climate observations, data systems and early warning infrastructure.

“We cannot afford to fly blind,” she said, stressing the need for urgent decisions and funding to address the growing climate threat.

Wellcome: Coalition awards over $225m in first year

Similarly, Alan Dangour, director of climate and health at Wellcome, said the latest WMO climate assessment demonstrates the magnitude of the threat posed by rising greenhouse gas concentrations, record-breaking temperatures, melting sea ice and rising sea levels.

He said the effects of climate change are increasingly being felt by people across the world, yet human health remains insufficiently prioritised in international climate negotiations.

“At Wellcome, we focus on people – on human health. And we’re working night and day to bring the health and wellbeing of people into rooms like this and the big negotiating rooms out there so that the impact of climate change on people finally takes its place at the climate change table,” he said.

Mr Dangour cited findings from the Lancet Countdown annual report, which Wellcome funds, estimating that fossil fuel-related air pollution and extreme heat contribute to more than three million deaths annually.

He also noted that extreme drought affected nearly 52 per cent of the world’s land for at least one month in 2025, the second-highest level on record.

According to him, drought and changing groundwater conditions are worsening food insecurity and sanitation challenges, with significant implications for public health.

However, he said several proven interventions could help curtail the health burden of climate change.

These include cleaner energy, electrification, heat early warning systems and broader adaptation measures, which he said could prevent deaths and reduce healthcare costs.

READ ALSO: COP31 opens in Türkiye with focus on climate finance, implementation

On the coalition’s funding efforts, Mr Dangour said Wellcome has joined forces with more than 35 philanthropic organisations to establish the Climate & Health Funders Coalition at COP30 in Belém, with an initial joint commitment of $300 million.

He announced that the coalition awarded more than $225 million in its first year to support interventions addressing extreme heat, air pollution, climate-sensitive infectious diseases and data systems.

The coalition also attracted an additional $150 million in commitments from new and existing funders, bringing the total funding mobilised to more than $375 million.

Mr Dangour called on governments and businesses to strengthen their responses to climate-related health risks, particularly for vulnerable groups, including children, pregnant women, outdoor workers and older people.

He also highlighted the need for policies to protect pregnant women and newborns from extreme heat exposure.

At the Pre-COP31 meeting in Fiji, he said Wellcome and its partners launched a global call to action seeking improved health guidelines, information, plans and data to protect pregnant women from extreme heat.

He urged governments to put human health and wellbeing at the centre of climate action, arguing that the success of climate negotiations should be measured not only by emissions reductions and temperature targets but also by lives saved and improved health outcomes.


Discover more from Premium Times Nigeria

Subscribe to get the latest posts sent to your email.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Leadway PFA Named Most Outstanding PFA Brand of the Year at 2026 Brandcom Awards

info

Published

on

Images (18)

Leadway PFA has been named Most Outstanding PFA Brand of the Year at the 2026 Brandcom Awards, earning recognition from Nigeria’s marketing communications industry for its brand strength and standing in the pension administration sector.

The award comes as Leadway PFA continues to strengthen its position in Nigeria’s pension industry, managing over ₦3 trillion in assets for more than 1.2 million Retirement Savings Account (RSA) holders. The company draws on over two decades of experience in pension administration and fund management.

Commenting on the recognition, Olusakin Labeodan, MD/Chief Executive Officer of Leadway PFA, said, “The pension industry is built on a long-term trust. Every contribution represents an individual’s effort to secure a more comfortable future. As a pension administrator, we have a responsibility to protect that trust through sound fund management, quality service and meaningful engagement with our contributors.

“Being recognized by the marketing communications industry is particularly encouraging. It reflects how our brand is perceived beyond the services we provide and reinforces the importance of building a pension brand on trust, consistency and the quality of our customer relationships. We appreciate this recognition and remain committed to improving the experience of our contributors and raising the standard of service we provide.

The recognition further reinforces Leadway PFA’s commitment to improving the contributor experience through enhanced digital pension services, responsive customer support and clearer communication on retirement planning. These efforts reflect the company’s continued focus on making pension services more accessible and helping Nigerians make informed decisions about their financial future.

The 2026 Brandcom Awards ceremony took place at the Landmark Event Centre in Lagos, following Brandcomfest, which explored the theme “Brand Building, Consumer Connection and Disruptive Realities.” Organised by Brand Communicator, the Brandcom Awards recognise brands, agencies, organisations and professionals across the marketing communications industry, with assessments centred on prestige, integrity and credibility.

Continue Reading

Business

Access Holdings mulls exit from foreign subsidiary to meet CBN rule – Report

info

Published

on

IMG 7961.jpeg

Access Holdings is considering exiting at least one market outside its base in Nigeria to comply with a Central Bank of Nigeria (CBN) rule requiring lenders to limit investment in foreign subsidiaries to no more than one-tenth of shareholders’ funds.

The banking group mentioned one business in which it plans to offload its stake to meet the requirement, Bloomberg reported on Monday, citing Chairman Aigboje Aig-Imoukhuede.

“If a subsidiary cannot meet its cost of capital and the strategic objectives for which it is set up, you should be ready to take a decision to exit,” Mr Aig-Imoukhuede was quoted as saying at an African Financial Industry Summit in Luanda, Angola, last week.

“Do we have one or two troublesome subsidiaries? I can think of one.”

Investment in subsidiaries for Nigeria’s biggest bank by assets stood at N446.6 billion at the end of September, equivalent to 19.3 per cent of its equity, according to Access Holdings’ 9M 2026 Investor Presentation.

That was roughly double the 10 per cent ceiling permitted by the Banks and Other Financial Institutions Act (BOFIA) 2020.

PT WHATSAPP CHANNEL
Dangote Refinery AD

Only in cases of regulatory approval for a higher threshold from the CBN are lenders allowed to exceed that limit, the Act says.

The banking industry watchdog has given Access Holdings 12 months to address the issue.

The potential exit is part of the financial institution’s move to review its international operations to comply with the directive.

In June, Access Bank’s chief executive, Roosevelt Ogbonna, said the lender would reduce its shareholding in some of its foreign subsidiaries to achieve compliance.

According to Innocent Ike, CEO of Access Holdings, the lender will explore three strategies towards that end.

The options include recalling surplus capital from overseas subsidiaries, offloading minority stakes and restructuring some businesses, he said.

He added that the group has already completed one capital repatriation exercise involving its six targeted subsidiaries, and is engaging regulators in five countries to facilitate the return of excess capital to Nigeria.

Access Holdings plans to meet the regulatory requirement ahead of the March 2027 deadline, Mr Ike stated.

READ ALSO: Access Holdings’ nine-month profit jumps 6% to N474.2 billion

“We gave ourselves up till January next year, and I think we’re completing this ahead of schedule,” said Mr Aig-Imoukhuede.

The Access Holdings’ chairman said the group’s international portfolio remains fundamentally strong despite plans to sell interests in some international subsidiaries.

He noted that the group would continue to review the performance of its subsidiaries to ensure they generate sustainable returns and remain aligned with the strategic objectives for which they were established.

“You have to do dynamic portfolio management. Every year, you’re looking for ways to improve,” he said.

Access Bank sold its 97 per cent stake in its loss-making Ivorian subsidiary to Cameroon’s Afriland First Group SA for $1 million in January 2014, after the CBN restricted parent-bank capital for foreign subsidiaries.


Discover more from Premium Times Nigeria

Subscribe to get the latest posts sent to your email.

Continue Reading

Trending