Story, Rosine NKONLA AZANMENE
Two major obstacles were identified during the 3 days conference. Very little climate finance that is being made available to Africa and the slow rate of providing the funds.
Participants at the conference questioned many of the new systems that are being developed and how they can contribute to ensure there is adequate climate finance in the continent.
“The amount of climate finance that is available is less than what is required to pay for adaptation to climate change and support mitigation and green industrialization on the continent”, says Dr. James Murombedzi, Chief Africa Climate Policy Center.
That is how African countries are losing between 5 to 15% of their GDP to climate.
Individuals are equally affected directly. In the agricultural sector, employments are lost, production is reduced and access to land is fast becoming a nightmare.
Climate sensitive development of the continent
It is good to develop the continent but it is better if the development is done in a climate sensitive manner. That is the vision of the CCDA and that explains why the conference laid emphasis on concrete resolutions that will be submitted to the leadership of the African Climate Summit.
Among the resolutions taken are strategies on;
– How to make debt more affordable to Africans,
– How to reduce cost of burrowing for African economies,
– How to manage high
interest rates paid on existing debt,
– How to convert debt and swap debts into investments,
– How to develop a vibrant carbon market to ensure Africa owns a regulatory and implementory framework.
“50% of financial resources should be directed to climate adaptation,” says Dr. James Murombedzi.
He explained that “all these resolutions would be concretised during the summit”.
Worth noting is the fact that the overall objective of CCDA–11, is to produce detailed analytical data-driven and evidence-based recommendations on the various subthemes of the Africa Climate Summit.
Reports from the conference will contribute to the outcome statements for African Heads of State, towards and beyond the UNFCCC COP28 to be held in the United Arab Emirates (UAE).
