More than Thirty (30) African governments have agreed to come together to take a coordinated stand against the menace of climate change.
Speaking during a virtual Leaders’ Dialogue convened by the African Development Bank, the Global Center on Adaptation(link is external) and the Africa Adaptation Initiative, over 30 heads of state and global leaders rallied behind the bold new Africa Adaptation Acceleration Program.
The program’s objective is to mobilize $25 billion to accelerate climate change adaptation actions across Africa.
President Félix-Antoine Tshisekedi Tshilombo of the Democratic Republic of Congo, and African Union Chairperson, invited his fellow leaders to:
“…….revisit our climate ambitions and accelerate the implementation of our actions planned under our national priorities. To do this we will need to focus on actions to adapt to the impacts of climate change, these include nature-based solutions, energy transition, enhanced transparency framework, technology transfer and climate finance.”Félix-Antoine Tshisekedi Tshilombo, President of DR. Congo
The Africa Adaptation Acceleration Program is built to address the impacts of Covid-19, climate change, and the continent’s worst recession in 25 years.
“With our partners, we intend to mobilize $25 billion in financing for the success of the Africa Adaptation Acceleration Program. It is time for developed countries to meet their promise of providing $100 billion annually for climate finance. And a greater share of this should go to climate adaptation. So far, more than 20 trillion dollars have gone into Covid-19 stimulus packages in developed countries. The International Monetary Fund’s plan to issue $650 billion of new Special Drawing Rights (SDRs) to boost global reserves and liquidity will be enormously helpful to support green growth and climate financing for economic recovery. I applaud the leadership of the US government and US Treasury Secretary Janet Yellen, especially, on this big push.”Akinwumi Adesina, AfDB President
Africa is currently confronted with the twin challenge of climate change – currently estimated at between $7 billion and $15 billion each year – and Covid-19, which has claimed 114,000 lives.
The African Development Bank expects that the impact of climate change on the continent could rise to $50 billion each year by 2040, with a further 3% decline each year in GDP by 2050.