Vice President Yemi Osinbajo, SAN, is currently meeting the United States Special Presidential Envoy for Climate, John Kerry, at the Presidential Villa, Abuja.

Kerry, a former Secretary of State under President Obama and the Democratic Presidential candidate in the 2004 elections is visiting Nigeria barely two weeks after Osinbajo’s working visit to the US.

Although details of their discussions remain unknown, it is believed to be a follow-up on the Vice President’s proposal for a Debt-For-Climate Swap deal.

The PUNCH reported that Osinbajo proposed a Debt-For-Climate Swap deal to achieve a just and equitable energy transition for Africa.

He said the swap deal, if approved, would significantly advance the course of global net-zero emissions targets and facilitate energy access and the development of African countries.

“Debt for climate swaps is a type of debt swap where bilateral or multilateral debt is forgiven by creditors in exchange for a commitment by the debtor to use the outstanding debt service payments for national climate action programs.

“Typically, the creditor country or institution agrees to forgive part of a debt, if the debtor country would pay the avoided debt service payment in a local currency into an escrow or any other transparent fund and the funds must then be used for agreed climate projects in the debtor country,” the VP said during a lecture at the Center for Global Development in Washington D.C, USA,

According to him, the debt-for-climate swap deal is a win-win for both creditor/developed nations and Africa.

As of this report, the meeting which began at about 08:15 pm local time is still in session.


https://punchng.com/climate-change-osinbajo-kerry-meet-at-state-house/

Debt for climate swap deal is a smart proposal by Osinbajo by the way.


Next administration should do the needful when approved

Hmmm

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Apc made a huge mistake not picking Osibanjo... Peter Obi wouldn't had gotten a chance,but now the youths are all Obident

Osibanjo my man

Osinbajo is a pacesetter on this

Hello People,
Listen to this important announcement!

APC/PDP agents commissioned to cause tribal divisions and derail Obidient movement have taken over nairaland. Be careful of who you respond to. They masquerade with Igbo, Yoruba and Hausa fake names to comment and reply themselves.

BEWARE

TheRareGem1:
Debt for climate swap deal is a smart proposal by Osinbajo by the way.


Next administration should do the needful when approved

We need to have full details of the climate change program.

I hope it's not the decimation of conventional agricultural practices, being implemented in Holland and others, whose citizens are protesting against.

Some of these programs are crashing economies, such as Sri Lanka and Argentina.

I'm wary of these red flags, given the proactive disposition of these people on climate change. You don't see them take similar proactive steps to help Africa defeat poverty and underdevelopment.

Welcome to our country sir, one of few sensible American politicians.

Climate change is huge issue.

God bless John kerry, God bless America.

Osinbajo. Man of the people

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Nigeria will get the much needed support to accomplish it energy transition plan as we have shown readiness. Lovely job Prof.