Connect with us

OPINION

Before the Storm – Reflections on COP26

Published

on

Spread the love

Glasgow must be a turning point in our efforts – not because of what happens there, but because of what we do differently the day after everyone goes home, argues Simon Zadek.

As we head for Glasgow – either literally or in our efforts, hearts and minds – the ideas and words of three superb intellectuals come to mind. 

First up is Barbara Tuchman, whose wonderful book, ‘The March of Folly‘, entertains us with case after case of great leaders throughout history making unnecessary errors with catastrophic consequences.

Second is Jared Diamond, who in ‘Collapse‘ provides us with glorious historical illustrations of why societies fall apart, not least because their elite can externalise the pain onto the shoulders of others, or else find out too late that they too have to pay the price.

Third, digging back further in time is the philosopher Erich Fromm, who in his ‘Sane Society’ argues convincingly that the more technologically and intellectually advanced a society becomes, the more it risks falling into collective insanity, marked by the automation of our lives – and with it war.

These three voices illuminate the most obvious observation of our time. That everyone knows what needs to be done and the implications of not doing it, and yet the odds of those who lead us, who have most power, doing the right thing, is vanishingly small.

In case you missed the memo, look no further than the Bangladesh Prime Minister’s recent op-ed in the Financial Times. Paraphrasing ruthlessly, Sheikha Hasina makes the shocking but self-evident point that if we do not advance far more ambitious climate action, part of Bangladesh’s 165 million population will be without water, and the other part under it.

And if, for many, Bangladesh seems ‘too far away to count’, look no further for a taster of what is to come for the world’s wealthiest communities than recent storms, floods, and energy & food price hikes.

Such outcomes are, said simply, our collective choice, including the financial community. As a recent UNEP report highlights, we continue to increase our investment in the bad stuff, with $300 billion in new funds channelled towards fossil fuel activities since the beginning of the Covid-19 pandemic — more than the global investment in clean energy.

Achieving meaningful collective action is a matter of broad-based solidarity between the parties, notably those who have, and those who have less. As Elizabeth Mrema, the Executive Director of the Conference on Biological Diversity, pointed out on the eve of the Kunming COP15 Summit on nature, such big deals are unlikely if wealthier people cannot even provide poorer people with the Covid vaccines they so desperately need.

“If we do not advance far more ambitious climate action, part of Bangladesh’s 165 million population will be without water, and the other part under it”

My observations are not a counsel of despair, and frankly I am fed up with those who accuse folks who point out the obvious as being ‘too negative’. No one, least of all me, would dismiss the efforts of so many extraordinary people trying to make a climate difference, including many friends, colleagues and partners. But that notwithstanding, what we are doing is too little, too late, and as such might even be an unintended distraction from much-needed disruption.

We must hope and push for the best, but plan for the more likely worst. What we hope for from Glasgow is ramped up government commitments to reduce emissions, more spend on mitigation, and to ensure a just, if painful, transition.

The surround sound needed is an extraordinary upsurge in ambitious commitments by the business community and the wider public.

I have no doubt we will get some of this, thanks to the heroic efforts of many. But most probable is that we emerge from Glasgow with some laudable but underwhelming commitments, and a few more climate dollars that will be more than absorbed by developing countries’ ballooning Covid-linked debt repayments to, well yes, richer countries and the financial community.

Business, including finance, will be very visible, vocal and supportive, but actual asset allocation tells a different, darker story. So what might be the ‘so what’ of this self-evident critique of the state of play. I want to offer five possible building blocks for a more aggressive post-Glasgow world.

First, whilst continuing to act ambitiously in reducing emissions, we need a new political narrative that places far more emphasis on practical planning for a very different world, rejecting the fake ‘win-win’ narrative that ‘we can make the transition without pain and loss’.

Second, we need to face the fact that climate and nature-related risk pricing and disclosure will deliver way too little in reallocating private capital to invest in a liveable world for all. We need to embrace the uncomfortable truth long spoken by Global Witness and now many others that we need to make it impossible as well as immoral to invest in ways that are sustaining our journey into an unliveable world.

Third, we need to ensure that the 500-plus public development banks owned by us through our governments, with their cumulative balance sheet of $11.5 trillion and accounting for 10% of global investment, are directed by their government shareholders on our behalf to deliver net zero and nature positive by 2030, or else close their doors, as recommended in a recent F4B report.

Fourth, we need the world of public finance, amounting to $25 trillion-plus a year, to be rapidly and transparently aligned with net zero and nature positive outcomes, to have larger and more visible allocations to invest in radical adaptation, and to demonstrate compliance through transaction-level transparency.

Fifth, we have to bite the political bullet and shift relative retail prices to disincentivise climate and nature-destructive consumption behavior, building compensatory payments to ease the pain for poorer citizens, and using behavioural ‘nudging’ techniques, such as those being taken forward by the Green Digital Finance Alliance-hosted alliance of mobile payment platforms, Each Action Counts.

Glasgow must be a turning point in our efforts, but not because of what happens there, but because of what we do differently the day after everyone goes home.

We need to celebrate what we achieve in the city that is ‘miles better‘. But equally, we need to be willing to let go of those efforts that are not commensurate with what needs to be achieved, and embrace a more radical agenda that aligns global finance with its core purpose of investing in the future we want and need.

Dr Simon Zadek is the Chair of Finance for Biodiversity (F4B).

Courtesy: Environmental Finance


Spread the love
Continue Reading
Click to comment

Leave a Reply

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

OPINION

Rescuing Nigeria: How to Break the Cycle of Decline and Bring Progress

Published

on

By

Spread the love

Omano Edigheji

Nigeria has abundant human and natural resources but remains mired in underdevelopment. There are high levels of povertycorruptionunemployment and inequality. The country is currently witnessing a rise in ethnic militias and terrorism, adding to the threats posed by armed herdsmen’s deadly clashes with rural communities over land.  The nation suffers from poor economic management and a political leadership that has failed to promote structural transformation of the economy and politics.

I am a political scientist with research specialisation in the political economy of development. In my view, Nigeria’s social, economic and political crises stem from the absence of a grouping of people who put the country’s interests first. I call this grouping a developmentalist coalition.

I argue that for Nigeria to realise its potential and forge a prosperous shared future, like-minded individuals motivated by the ideology of development nationalism must come together in a coalition.  Development nationalism refers to the commitment to advancing one’s country and ensuring its prosperity. This includes enhancing the capabilities of its people so they can reach their potential and contribute to national progress. Individuals like this put loyalty to their country above other identities or considerations.

This coalition must focus on enhancing the nation’s productive capacity and uplifting the well-being of its citizens. Together, they can break the cycle of underdevelopment and achieve lasting progress. And this can be measured through the creation of a predictable governance structure characterised by the rule of law and the provision of essential public goods to citizens.

Developmental nationalism

Developmentalist coalitions shape political and economic affairs in most developed nations. In China, Malaysia, Mauritius, South Korea, Singapore and other countries that have tried to catch up with advanced nations, developmental nationalism has played a significant role.

In some cases, a developmentalist elite creates its own political party. An example of this is the People’s Action Party founded by Singapore’s first prime minister, Lee Kuan Yew, and his colleagues. The Labour Party in Norway, a coalition mostly of workers and farmers, is another example.

In other instances, members of this elite join different political parties. When developmentalists are the dominant political elite, any party in power ensures that it upholds standards that reflect the core principles upon which the country is founded.

Developmental elites articulate values that define and bind their nations. They provide moral and political leadership, as Nelson Mandela did in South Africa.

Most of these elites want to have inclusive economic and political institutions that help them achieve their development objectives.

Why Nigeria needs developmentalist coalitions

Since Nigeria became independent from Britain in 1960, most of those who have overseen the country’s political and economic landscape have not acted in a nationalistic or patriotic manner. Instead, they have followed their self-interest and exploited the Nigerian state for personal gain. As a result, the economy remains undiversified, with a small and declining manufacturing sector, thereby missing out on the potential for job creation.

Successive administrations in the last 26 years have allocated less funding to the education sector than the 26% of the national budget recommended by Unesco. The political elite have not built an economy that will create decent jobs for the youth. Also, they have fostered an education system that produces graduates who do not have the skills to start enterprises.

Most young Nigerians are engaged in the informal sector, with its associated problems: unstable jobs, hazardous working conditions, and a lack of decent wages. Most youths are underemployed and in low value-added economic activities. This means Nigeria is missing out on the potential benefits of its youthful population. About 70% of Nigeria’s population of over 200 million are under 30 years old, and 41% are younger than 15. Political leaders have failed to create an environment that allows them to achieve their full potential.

In Nigeria, the issue is not the lack of individuals focused on development. These people exist across all segments of the Nigerian society, including government. The real problem is that they haven’t formed a coalition. As a result, they cannot act collectively and cohesively to invest in Nigeria’s greatest asset: its people; and to promote industrialisation. Now is the time to form the developmentalist coalition to change the governance and development trajectory of the country.

What to do

In Nigeria, a broad-based coalition of developmentalist elites needs to be led by individuals with a clear vision for development and national cohesion. Members of this coalition could establish a political party to contest elections, gain political power, and use their positions in government to develop the nation.

Party members must be disciplined and subordinate their personal ambitions to those of the party and the national interests. The party must not become an empire of powerful individuals: instead, its organs must be allowed to function. Establishing this coalition is the way to end Nigeria’s endemic corruption and build a robust manufacturing sector and a thriving digital economy.

It also needs to promote agro-allied industry, investment in infrastructure, job creation and poverty reduction. This coalition should aim to transform Nigeria’s democracy into a system where political parties and elected representatives genuinely serve the people.

Omano Edigheji is an Associate Professor of Practice, University of Johannesburg

Courtesy: The Conversation


Spread the love
Continue Reading

OPINION

The United Nations, Ukraine, and the Crumbling Pillars of Global Order

Published

on

By

Spread the love

Dr. Hasim Turker

On February 24, 2025, the United Nations General Assembly witnessed an event that sent shockwaves through diplomatic circles worldwide. A resolution condemning Russia’s invasion of Ukraine passed with 93 votes in favor, 18 against, and 65 abstentions. Yet, it was not the overall result that captured global attention—it was the fact that the United States, long considered Ukraine’s staunchest supporter, voted against the resolution alongside Russia. In parallel, the UN Security Council adopted a US-drafted resolution that called for a “swift end” to the conflict but conspicuously omitted any attribution of blame to Moscow. The resolution, supported by Russia and China, stood in stark contrast to previous UN votes that had unequivocally condemned Russia’s actions.

These votes were not just procedural moments in international diplomacy. They signaled a tectonic shift in US foreign policy —one that moves away from the moral and strategic certainties of the past and toward a transactional, interest-driven realignment. The implications of this shift are profound, not just for Ukraine but for the entire fabric of global alliances, particularly in the Asia-Pacific, where long-standing US security commitments are now being scrutinized with heightened concern.

 From moral clarity to strategic ambiguity: The US position at the UN

Historically, the United States has used the UN as a platform to advance its vision of a rules-based international order, frequently rallying allies to uphold democratic values and deter authoritarian aggression. The UN votes on Ukraine, however, revealed a stunning reversal of this long-held strategy. By opposing a resolution that explicitly condemned Russia’s invasion, Washington abandoned its traditional role as a guarantor of Ukraine’s sovereignty. As for the US-drafted UNSC resolution, the abstentions from key European allies—France, the UK, Denmark, Greece, and Slovenia—further underscored the growing transatlantic rift regarding how to handle the conflict.

For European nations, the shift in US posture raised existential questions. If Washington could alter its stance on Ukraine so dramatically, what guarantees did NATO allies have that their security interests would remain non-negotiable? Would a similar transactional approach emerge in Asia, where China’s assertiveness threatens US allies such as Japan, South Korea, and Taiwan?

 A signal to Moscow, a green light to Beijing?

The immediate beneficiary of the US policy shift is Russia. While previous UN resolutions had overwhelmingly isolated Moscow, the latest votes demonstrated that the diplomatic tide was turning. By securing Washington’s opposition to an anti-Russia resolution, the Kremlin gained not only symbolic validation but also tangible diplomatic breathing room. The global narrative that once portrayed Russia as an aggressor is now being muddied by the strategic recalibrations of the United States.

Yet, the greater strategic consequence may lie in the Asia-Pacific, where China is closely studying Washington’s evolving foreign policy doctrine. If the U.S. can pivot away from Ukraine so decisively, why should allies in the Indo-Pacific expect unwavering American support in the event of a crisis? This question is particularly pressing for Taiwan, whose security rests on implicit US commitments. If Taiwan were to face military aggression from China, would Washington maintain its traditional security guarantees, or would it adopt a similarly pragmatic, negotiation-driven approach?

 The Asia-Pacific: Unraveling the trust factor

Japan and South Korea, two of the most critical US allies in the region, have already begun recalibrating their security postures in response to shifting priorities in Washington. South Korea, for instance, recently announced a record-breaking $46.3 billion defense budget for 2025, reflecting deep-seated concerns about regional stability. Meanwhile, Japan has accelerated its military modernization efforts, focusing on strengthening its air and naval capabilities to counter potential threats from both North Korea and China.

For these allies, Washington’s shifting stance at the UN is not an isolated event—it is a warning sign. The Trump administration’s willingness to negotiate directly with Russia over Ukraine, even at the cost of sidelining Kyiv, suggests that similar deals could be struck elsewhere, depending on shifting US interests. If Taiwan becomes the next crisis zone, Tokyo and Seoul must now contemplate the possibility that Washington might prioritize a grand bargain with Beijing over steadfast support for its Indo-Pacific allies.

 The transactional turn in global diplomacy

At the heart of this new paradigm is a fundamental shift in how the United States approaches alliances. The post-World War II model, built on unwavering commitments and long-term strategic partnerships, is being replaced by a framework that evaluates relationships through a cost-benefit lens. Trump’s handling of Ukraine exemplifies this approach: rather than defending Ukraine as a matter of principle, Washington is now considering what it can extract from the situation, including economic leverage over Ukraine’s vast natural resources.

This transactional mindset is not lost on allies and adversaries alike. For nations like India and Vietnam—non-treaty partners that maintain strategic ties with Washington but also engage with Beijing—the lesson is clear: the U.S. is willing to pivot rapidly if its national interests dictate such a move. This could push these nations to hedge their bets, seeking a more balanced approach between the U.S. and China rather than placing full confidence in US commitments.

 A future defined by uncertainty

As the dust settles from the UN votes, one reality is undeniable: the credibility of US commitments is now under question across multiple theaters of geopolitical competition. The immediate consequences are already unfolding in Ukraine, where European allies must now decide how to fill the gap left by Washington’s wavering stance. But the longer-term impact will be felt in the Indo-Pacific, where the US security umbrella has long been the bedrock of regional stability.

If the United States is no longer willing to stand unequivocally by its allies, then nations that have historically depended on US security assurances must prepare for an era of greater self-reliance. This could mean more aggressive military posturing, accelerated nuclear deterrence programs, and a fundamental reshaping of regional alliances.

For the broader international system, the consequences could be even more profound. The UN votes on Ukraine may be remembered as the moment when the rules-based international order began to fracture, not because of external threats, but because the world’s leading power chose to play by different rules.

Dr. Turker is the academic coordinator and senior researcher at Bosphorus Center for Asian Studies, Turkey, Ankara


Spread the love
Continue Reading

OPINION

Governor Ahmad Aliyu Sokoto: Pioneering Sokoto State’s Transformation through Visionary Leadership

Published

on

By

Spread the love

By Dr Kabir Umar Dasuki

In the realm of governance, it is rare to witness leaders who transcend political affiliations to deliver impactful, people-centered policies. His Excellency, Governor Ahmad Aliyu of Sokoto State, since assuming office in 2023, has distinguished himself as one such leader. His administration has laid the groundwork for sustainable development and social progress, earning commendation across political divides. As a member of the opposition, this acknowledgment is not borne out of sycophancy but from a genuine recognition of good governance and a commitment to celebrating impactful leadership.

A Vision for Educational Transformation

The APC led administration of Governor Ahmad Aliyu Sokoto has prioritized education as a cornerstone of societal progress. A significant highlight of his tenure is the intervention for 88 Sokoto State medical students affected by the crisis in Sudan. Rather than allowing these future healthcare professionals to languish in uncertainty, his administration facilitated their transfer to Usmanu Danfodiyo University Medical College, ensuring their education remained uninterrupted. This bold initiative underscores his administration’s commitment to nurturing human capital and fostering resilience in the face of challenges.

Moreover, the government has invested heavily in educational infrastructure and teacher training programs. By creating an enabling environment for both students and educators, the administration is building a foundation for a more enlightened and competitive youth population in Sokoto State.

Commitment to Workers’ Welfare

One of the most commendable aspects of Governor Aliyu’s governance is his dedication to workers’ welfare, particularly retired civil servants. For years, pensioners in Sokoto State endured hardships due to unpaid gratuities and pensions. Governor Aliyu’s administration took decisive action to address these issues, clearing arrears and ensuring timely payments. This commitment has restored dignity and financial stability to thousands of retirees.

As a direct beneficiary of this policy, I can personally attest to its transformative impact. After years of waiting, I received my gratuity under his administration, a testament to his resolve to honor commitments and prioritize the well-being of retirees. This act of leadership goes beyond policy—it represents a compassionate approach to governance that recognizes the sacrifices of public servants.

Additionally, his administration has introduced reforms to streamline the pension system, reducing bureaucratic bottlenecks and ensuring that retirees receive their entitlements without undue delays. Active civil servants have also benefited from prompt salary payments and capacity-building programs aimed at enhancing their professional development.

Infrastructure Development for a Sustainable Future

Infrastructure development has been a hallmark of Governor Aliyu’s administration. Recognizing the pivotal role infrastructure plays in economic growth and social mobility, the government has allocated substantial resources to transformative projects. The 2025 budget, aptly named the “Transformation and Infrastructural Sustainability Budget,” allocated ₦349.4 billion—approximately 66% of the total budget—to capital projects. This bold commitment reflects the administration’s focus on fostering connectivity, improving public facilities, and creating an enabling environment for economic activities.

Roads, bridges, and public buildings are being constructed and rehabilitated to enhance accessibility and stimulate commerce. These efforts are not merely about constructing physical structures; they symbolize a commitment to creating lasting impact and empowering communities across Sokoto State.

Addressing Water Scarcity

Water scarcity has long been a pressing issue in Sokoto State. Governor Aliyu’s administration has tackled this challenge head-on, awarding a ₦14 billion contract for a water project capable of delivering 40 million gallons per day to Sokoto metropolis. This ambitious initiative is set to provide potable water to thousands of households, improving public health outcomes and supporting local industries reliant on water resources.

By prioritizing such a critical sector, the administration demonstrates its understanding of the intersection between basic amenities and overall quality of life. This project is a beacon of hope for residents who have long struggled with inadequate access to clean water.

Enhancing Security and Community Resilience

Security remains a paramount concern for any government, and Governor Aliyu’s administration has shown commendable resolve in addressing this issue. Over 130 patrol vehicles have been procured and distributed to security agencies, significantly enhancing their operational capacity to combat banditry and other criminal activities.

In addition, the establishment of the Community Guard Corps, equipped with 40 patrol vehicles and 700 motorcycles, reflects a grassroots approach to security. This initiative empowers communities to take an active role in safeguarding their neighborhoods, fostering resilience and collaboration between citizens and security agencies.

Fiscal Responsibility and Governance:

In an era where many states grapple with unsustainable debt, Sokoto State under Governor Aliyu stands out for its fiscal discipline. His administration has managed to execute numerous developmental projects without resorting to loans, maintaining a debt-free status with contractors. This prudent approach ensures long-term sustainability and reflects a governance model rooted in accountability and financial responsibility.

Strengthening Religious and Community Cohesion

Governor Aliyu’s administration has shown a unique commitment to fostering unity and inclusivity across Sokoto State. Monthly cash allocations to Juma’at mosques and grassroots preachers, coupled with food and cash assistance, have strengthened community ties and supported religious leaders in their efforts to promote harmony and social values. These measures highlight the governor’s dedication to creating a cohesive society where every segment feels valued and included.

Challenges and Areas for Improvement

While Governor Aliyu’s achievements are commendable, there are areas where, in my opinion, further attention can accelerate progress:

Healthcare: Sokoto State can benefit from a comprehensive upgrade of healthcare facilities, particularly in rural areas, to improve access and quality of care.

Agriculture and Livestock Development: Given Sokoto State’s potential as an agricultural hub, policies that promote mechanized farming, irrigation systems, and agro-processing industries can enhance food security and economic diversification. Furthermore, Sokoto State has immense potential to become a leader in livestock production. The establishment of a modernized meat processing industry would enable the state to tap into the lucrative international meat market. Such a program should focus on enhancing livestock health, breeding practices, and processing facilities that meet global standards. This initiative would create jobs, boost revenue, and position Sokoto as a major player in the global Halal meat market.

Youth Empowerment: Expanding skills acquisition programs and providing startup grants can reduce unemployment and encourage entrepreneurship among youth.

Urban and Rural Development: Initiatives to improve urban planning and rural electrification. Conclusion: Leadership That Transcends Politics

Governor Ahmad Aliyu’s administration has set a high standard for governance in Sokoto State. His achievements in education, workers’ welfare, infrastructure, water resource management, security, and fiscal responsibility are not only commendable but transformative. These milestones are a testament to his vision, compassion, and unwavering commitment to the people of Sokoto State.

As a member of the opposition in the state, it is my duty to recognize and celebrate impactful leadership, irrespective of political affiliations. Governor Aliyu’s governance serves as a shining example of what is possible when leaders prioritize the needs of the people over partisan interests. His administration’s legacy will undoubtedly inspire future leaders and set a benchmark for effective governance in Nigeria.

May his achievements continue to bring progress and prosperity to Sokoto State, and may other leaders across the nation emulate his dedication to service and excellence.

Dr Kabir Umar Dasuki is the Chairman/CEO of DUKE Consult Ltd, an Abuja based consulting firm.


Spread the love
Continue Reading

Trending

Copyright © 2024 Focus on Halal Economy | Powered by Africa Islamic Economic Forum