At COP27 it will be essential to shift the focus from decisions to action. We do not need more agreements on future developments, but we must translate the achievements of previous summits into global cooperation for comprehensive climate action. In Africa, host of the summit, a more holistic approach is also needed, as it is not only highly vulnerable to climate change, but also has considerable needs for development.
The United Nations Climate Change Conference (COP27) in November 2022 comes at a time of economic and geopolitical turmoil affecting food security and public health, among other areas. But the immediate challenges we face should not distract us from an irrefutable truth: the most important battle our generation will face is the fight against climate change.
This year, extreme rains caused one of the deadliest catastrophes of the century in South Africa. The worst floods in Pakistan’s history have left a third of the country under water. Far from being unusual situations, severe weather events are becoming normal. Experts believe that the probability has been doubled of extreme rainfall due to climate change, which is also causing other kinds of devastation, such as droughts and wildfires.
Africa is particularly vulnerable for those purposes. According to the Acting Chief Economist of the African Development Bank (AfDB), climate change costs the mainland between 5% and 15% of the growth of its GDP per capita. Over time, these losses could increase considerably, with agriculture being the hardest hit sector. This would have devastating consequences, not only for economic development, but also for food security.
Many call COP27 – to be held in Sharm el Sheikh, Egypt – the “COP of Africa”, but in Africa we prefer instead to see it as the “COP of implementation”, a meeting that will go beyond noble aspirations and vague commitments, to create a comprehensive results-oriented agenda. And yes, that agenda must include increased support – financial and otherwise – for Africa, the continent that has contributed the least to climate change.
“In recent years, Africa’s renewable energy capacity has seen a strong increase, with solar, wind and hydro power growing by double-digit percentages annually”
I echo the words of the president of the BAFD, Akinwumi Adesina, that we Africans do not come to beg, but to bring resources and solutions. In fact, we are already implementing concrete actions to accelerate the green transition and protect ourselves from the worst effects of climate change.
First of all, African countries are adopting green energy. In recent years, the continent’s renewable energy capacity has seen a strong increase, with solar, wind and hydro power growing by double-digit percentages annually. In Africa there are two of the largest solar projects in the world – in Egypt and Morocco – and two of the 20 companies fastest growing in 2022 they are in the solar energy sector. From Nigeria to Namibia, countries are adopting climate-friendly technologies like green hydrogen.
The African Union Commission is fully engaged in combating climate change on multiple fronts. The AU Committee on Agriculture, Rural Development, Blue Economy and Sustainable Development (ARBE) expanded its mandate to reflect the importance of building resilience, and of adaptation and mitigation. The ARBE has been working on several decisive projects with its associated organizations, such as the preparation of the AU Climate Change Strategy. He also recently collaborated in the development of a integrated strategy to guide the development and application of services related to weather and climate in Africa.
Meanwhile, specialized AU agencies, such as the African Group for the Development of Risk Management Capacities (ARC), are helping African countries harness technological early warning and preparedness systems to improve their resilience. The organization works closely with governments to strengthen their capacity to protect lives and support the reconstruction of infrastructure damaged by natural disasters. Through ARC Limited, the insurance company linked to the Group offers parametric insurance against extreme weather events.
“In 2020, the BAFD provided 63% of its funding to projects related to adaptation to climate change, making it the development finance institution that allocated the largest percentage of its funds to these issues”
For its part, the AfDB refocused its attention and resources on climate change. In 2020, the AfDB provided 63% of its funding to projects related to adaptation to climate change, making it the development finance institution that allocated the largest percentage of its funds to these issues. This year, the bank has committed an additional $12.5 billion to finance climate adaptation through the African Adaptation Acceleration Program (AAAP), a multi-stakeholder, African-led body founded in 2021.
It is estimated that Africa will need 52.7 billion a year until 2030 to finance adaptations. The AAAP funding target was set at $25 billion, with rich countries expected to provide the rest. But even as Africa implements and funds climate action, commitments from the international community continue to fall short.
And commitments are just the first step. The British government made commendable achievements at COP26 2021 in Glasgow, mobilizing not only the international community, but also the private sector and civil society to make record climate finance commitments. But a year later, many of those commitments are still just that: promises.
Maybe we shouldn’t be surprised. After all, at COP 2009 in Copenhagen, rich countries pledged to provide $100 billion a year to finance the mitigation and adaptation goals of developing countries by 2020. Two years have passed since then. date and to a large extent the commitments remain unfulfilled.
Therefore, we call for the introduction of improved mechanisms for monitoring and tracking commitments for climate finance. It should not be difficult to add clear timelines and benchmarks for implementation. The processes for accessing these funds must also be simplified.
At COP27 it will be essential to shift the focus from decisions to action. We do not need more agreements on future developments, but we must translate the achievements of previous summits into global cooperation for comprehensive climate action. For example, efforts to strengthen disaster risk management must take a holistic approach that covers everything from resource mobilization and early warning systems to technology transfers and capacity building.
A more holistic approach is also needed in Africa, as it is not only highly vulnerable to climate change, but also has significant development needs to cover. Such an approach will require significant capital outlays, which cannot be financed by further borrowing, as this would push African countries already in debt distress into crisis.
Beyond meeting funding commitments, international actors must provide a greater variety of options for all African countries, regardless of their financial situation. These tasks must include the private sector. To support implementation, African countries will need to access adequate technical support.
There is no exaggeration possible when we talk about the scale of the climate challenge. Addressing it will require a combination of mitigation, resilience building and adaptation through strategic partnerships, effective dissemination of knowledge, and adequate financial and technical support.
Africa is doing its part. The rest of the world must too, starting with COP27.
© Project Syndicate, 2022. www.project-syndicate.org
