Africa: Global Financial Architecture Needs to Prioritise Africa's Climate Adaptation Needs - AfDB #AfricaClimateHope

Nairobi, Kenya — Africa contributes less than 4% of global greenhouse gas emissions, yet it suffers some of the worst effects of rising global temperatures.

African countries are taking the climate crisis seriously and are stepping up their actions to address it. They recognise that the impacts of climate change are disproportionately felt by the poor and vulnerable, who rely on climate-sensitive agriculture for their livelihoods. To build resilience against climate change, country leaders outlined ambitious plans for green growth, including investing in renewable energy, energy efficiency, and sustainable agriculture. These plans will help to reduce emissions and create jobs, while also making the continent more resilient to the impacts of the climate crisis.

From 2020 to 2030, the estimated funding required for the 51 African countries' that submitted data on their Nationally Determined Contributions (NDCs) is approximately $2.8 trillion, representing more than 93% of Africa's GDP.

To this end, the African Development Bank (AfDB) President Akinwumi Adesina announced a commitment of U.S$25 billion towards climate financing.

"The global climate financial architecture must be changed to prioritise the needs of Africa at the national level on climate adaptation, that is why AfDB has committed to providing U.S.$25 billion towards climate finance by 2025," he said. "We have also launched the African Adaptation Acceleration Program together with the Global Centre on Adaptation (GCA), the largest climate adaptation programme in the world."

Adesina called for a change in the global financial architecture to prioritise the needs of Africa, and for delegates to mobilise resources for climate financing.

He said that Africa must use its natural gas and combine it with renewable resources and that it must ensure that its food and agriculture are climate resilient. He also urged African nations to voluntarily consider climate-friendly endeavors, not because they are told to, but because they have to.

"That's why the African Development Bank is implementing a U.S.$20 billion Desert to Power program to harness the power of solar and deliver electricity for 250 million people," he said...Read more on All Africa