Africa Adaptation Summit: “We’ve not come to the table to beg” – AfDB President tells Western leaders
President of multilateral institution, the African Development Bank (AfDB), Dr Akinwumi Adesina, has made it clear to leaders of western countries that, the Continent has no intention of begging for funds to finance its climate change adaptation programmes and projects.
According to Dr Adesina, the continent and the AfDB in particular, have already initiated steps to dealing with climate change and implementing climate change adaptation programmes and projects.
Making reference to the Bank’s replenishment fund (ADF 16 replenishment), Dr Adesina noted the AfDB is already looking at mobilising between $4bn to $14bn to provide climate resilient infrastructure on the continent.
Additionally, the Bank is currently piloting the “African Adaptation Benefits Programme” where it gets to buy and sell “climate change adaptation benefits” to finance climate change on the continent.
Already, the AfDB has set aside some $3.5bn to support climate change adaptation programmes and projects on the African Continent.
“I think that if there’s anything that will come out of here today, is the fact that Africans actually came to the table, not to beg. We came with resources that shows that we are committed to climate finance, to climate adaptation.
“For the climate action window of the bank, we want to mobilise between $4 billion and $14 billion to support climate change adaptation and the money will do the following; it will provide 20 million farmers with access to weather index insurance products, including pastoralists.
“It will provide 20 million farmers access to climate resilient agricultural technologies and seed varieties that are resistant to drought and help regenerate 1 million hectares of degraded land. It will also provide renewable energy and electricity for about 9.6 million people,” he noted.
African Heads of States led by President Akufo-Addo are currently in Rotterdam, Netherlands participating in the Africa Climate Change Adaptation Summit.
Through the Summit, African Leaders are hoping to raise some $25bn to finance climate change resilient programmes and projects on the continent through its broader Africa Adaptation Acceleration Programme (AAAP).
Already, some $12.5bn in pledges by the Western world has been made available to the continent.
Greenhouse emissions from the African Continent contributes a meagre 3% to global greenhouse emissions and yet the Continent is the most affected by climate change.
The $25bn funds demanded by African Leaders to help the continent adapt to climate change seeing that industrialised activities of the western world, is the reason for the negative impacts of climate change on the African Continent.
AfDB readies $3.5bn for Africa Adaptation Acceleration Programme
President of the African Development Bank, Dr Akinwumi Adesina, has said the Bank has already set aside some $3.5bn for the implementation of the Africa Adaptation Acceleration Programme on climate change.
Speaking to norvanreports at the ongoing Africa Climate Change Adaptation Summit in Rotterdam, Netherlands, Dr Adesina remarked the AfDB is looking at partner institutions on the continent and also from western countries to add up to the $3.5bn to support climate change adaptation on the African Continent.
Africa, at the end of the Summit is hoping to raise a total of $25bn to implement climate change adaptation programmes on the Continent.
Already, the Continent has secured some $12.5bn in pledges from the Western world.
Speaking further to norvanreports, Dr Adesina expressed optimism that Africa will efficiently use the mobilized funds to undertake the needed climate change adaptation programmes.
According to the African Development Bank Group (AfDB), the African Continent loses about $7-$15bn annually due to climate change impacts on African countries.
The Continent’s losses to climate change are projected to rise even further to $40bn by 2030.
Africa suffers disproportionately from the negative impacts of climate change, including increased frequency and intensity of droughts, cyclones and floods, compounded by desertification.
This is despite the fact that Africa contributes the least to global warming, accounting for only 3% of all carbon emissions.
African leaders criticise West for climate change snub
Meanwhile, African leaders have criticised wealthy nations for failing to turn up at the climate change summit in the Netherlands.
The only Western leader to appear in person was the Dutch host, Prime Minister Mark Rutte.
The Senegalese President Macky Sall said he felt bitter that the world’s main polluters had failed to offer funds to help Africa adapt to global warming.
The Congolese President Félix Tshisekedi said the continent contributed the least to climate change but suffered its worst consequences.
The Horn of Africa is enduring its worst drought in four decades and several countries are on the brink of famine.
