UK Announces Partnership to Address Climate Crisis, Boost Growth

By: Michael Mike

Efforts to address the climate crisis and boost growth in the Global South and at home will be enhanced under a partnership approach between the government and the UK financial sector, the UK’s Minister for Development Anneliese Dodds announced Monday

The Minister announced up to £100 million for the UK’s flagship public markets programme MOBILIST which will provide businesses focused on delivering the SDGs with the anchor funding and expert advice they need to list on stock exchanges around the world, allowing them to attract significant sums of additional private investment.

She also celebrated the issuance of the first Climate Investment Fund (CIF) Capital Markets Mechanism (CCMM) bond last month, which raised $500 million (approximately £400 million) for energy and clean technology projects in low- and middle-income countries. The CCMM, launched by the Prime Minister at COP29, is a new financial mechanism to leverage future loan repayments by issuing bonds on capital markets.

Speaking at the London Stock Exchange, Minister Dodds praised the “expertise, experience and dynamism” of the UK’s financial services sector, and pledged to put this expertise “at the heart of how we meet the opportunities and challenges of our time”, including accelerating delivery of the UN’s Sustainable Development Goals (SDGs). These seek to address global challenges, including poverty, inequality, and climate change, to achieve a better and more sustainable future for all, by 2030.

Minister Dodds set out how investment in the Global South is an opportunity for UK financial services “to marry investment in the economies and technologies of the future, with the experience and expertise of the City of London”, adding that the government will hold up its end of the bargain by working internationally to reform the global financial system to provide greater opportunity and stability.

Minister for Development Anneliese Dodds said: “With businesses and the government working hand in hand to drive investment in the Global South, we can unlock growth, jobs, trade, investment, and pride in our economy overseas and here at home.

“This government is enabling the financial services sector to flourish and use its expertise and depth of capital to invest in the markets and technologies of the future.
“Through partnerships like this, we will deliver on the Plan for Change, drive domestic growth, and create a world free from poverty on a liveable planet.”

The MOBILIST funding is expected to generate between £400 million and £600 million of new investments in businesses across emerging markets in Asia, Africa, and Latin America. These investments will support economic growth, sustainable development, and climate action in local markets.

As today’s announcements demonstrate, this government’s modern approach to development focuses on harnessing the power of the private sector in mobilising the finance emerging markets need to grow.

This will create future export markets for the UK and new overseas investment opportunities, supporting domestic growth and delivering on the government’s Plan for Change. It will also make the UK safer and more stable by tackling the drivers of conflict, climate crises and economic decline in partner countries.

UK Climate Minister Kerry McCarthy said:
“This is a historic moment for tackling the climate crisis, with the first bond raising $500 million to accelerate the global clean energy transition and support the flow of climate finance to developing countries.
“Public finance alone cannot tackle the scale of this challenge, and this mechanism will help leverage the private finance needed to support those on the frontline of a changing climate.

“Its listing in the UK positions London as a green finance capital. By working with partners such as the World Bank the UK can drive the action needed to grow the economy and reap the rewards of net zero.”
Minister Dodds made the announcements during a speech to the UK financial sector, including pension funds, insurers, banks, and development finance organisations, after joining a market opening ceremony at the London Stock Exchange.

Julia Hoggett, CEO of the London Stock Exchange, added: “Flows of investment are vital to generating sustainable growth both in the UK and around the world. London’s capital markets have long played a leading role in driving flows of capital to where they need to go, and we welcome the focus on fuelling growth and supporting the just transition to net zero.

“As part of these efforts, we are proud to celebrate the listing of the Climate Investment Funds’ Capital Markets Mechanism on the London Stock Exchange. This pioneering bond issuance programme not only brings a new financing tool to our market but is facilitating critical investment in sustainable and clean assets.”

UK Announces Partnership to Address Climate Crisis, Boost Growth

Twenty-three Personnel of the NSCDC FCT Command Rewarded for Exemplary Service

By: Michael Mike

The Nigeria Security and Civil Defence Corps (NSCDC) has rewarded 23 personnel of its FCT Command with medals of excellence for exemplary service.

The award was given by the Commandant of the FCT Command, Dr. Olusola Odumosu, at a brief ceremony on Monday in Abuja

The FCT Boss disclosed that the award was in recognition of excellence, dedication, relentless service and a testament to hard work, commitment and passion of the personnel in the year 2024.

He said: “Your contributions have made significant impact in the successes recorded in FCT Command in the year 2024 and this award is to inspire you to continue to strive for excellence”.

He maintained that the 23 personnel had demonstrated exceptional leadership, professionalism and steadfast commitment to the corps’ mission and values, adding that their tireless efforts cannot go unnoticed.

He added that: “This award is not only a recognition of your past achievements and successes but a way of spurring you up and motivating you for greater responsibilities.”

Odumosu noted that the (NSCDC) thrives in humility and integrity in service delivery and will do everything within his power as the FCT Commandant to ensure that this status of the corps is maintained.

He said: “I charge you all the recipients of this award to continue serving with distinction and may this award serve as a guide and reminder of your exceptional contribution to the successes recorded by the FCT Command in recent times as well as keep you in check”.

The Commandant enjoined other personnel to take a cue from the awardees and prove themselves worthy through their dedication and service to the corps, adding that there is reward in diligence and hard work.

He said: “You have been called to serve and I expect nothing less than your absolute dedication and commitment to ensure that the mandate of the corps is actualized”.

Twenty-three Personnel of the NSCDC FCT Command Rewarded for Exemplary Service

CDCFIB: Jibrin Takes Over as Ja’afaru Bows Out as Secretary

By: Michael Mike

Major General Abdulmalik Jibrin (Rtd.) has taken over as the Secretary to the Civil
Defence Correctional Fire and Immigration Services Board (CDCFIB) following his
recent appointment by President Bola Ahmed Tinubu.

The handover ceremony took place at the board headquarters on Monday. He took
over from his predecessor Alh. Ja’afaru Ahmed, who was once the Controller General, Nigeria Correctional Service (NCoS).

In his remarks, the outgoing Board Secretary thanked Mr. President for finding him worthy to serve within the shortest period.

He pointed out that through the able leadership of the Minister of Interior/Chairman of the Board, Hon. Olubunmi Tunji-Ojo, he was able to secure presidential
approval for some of the reforms, amongst which includes the independence of the
Board Secretariat thus allowing the Board to recruit its own staff.

He urged staff of the Board Secretariat to accord all the necessary support needed
for the incoming secretary to succeed.

Abdulmalik, on his part, thanked the Almighty Allah and Mr. President for the opportunity to serve the Secretary of the Board.

He assured the staff of the Board Secretariat of his commitment to build on the laid down reforms of his predecessor.

In his vote of thanks, the Chairman of the Board Union, Comrade Gbadamasi
Saheed, thanked the outgoing Secretary for his leadership qualities and pledged the
support of the Board staff to the incoming Board Secretary to have seamless tenure
in office.

CDCFIB: Jibrin Takes Over as Ja’afaru Bows Out as Secretary