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Developed Nations have failed to meet climate financing pledges since the Paris Agreement, WWF issues urges these nations to uphold their commitments.
Addressing climate change hinges on the critical step of phasing out fossil fuels; Leaders must take Decisive Steps in Shaping a Sustainable Energy Transition.
African leaders convening at the Africa Climate Summit must advocate for the fulfillment of climate finance commitments made by developed nations over a decade ago. The issue of climate finance has remained unresolved since adopting the Paris Agreement in 2015, where developed countries pledged to mobilize USD 100 Billion annually by 2020 to support climate mitigation and adaptation actions in developing countries.
The outcomes of the Africa Climate Summit are pivotal in amplifying Africa’s call to secure its climate financing requirements. The current economic strains African nations face, coupled with escalating debt burdens, undermine their development aspirations and capacity to address climate-related risks. Africa needs 2.8 trillion between 2020 and 2030 to effectively implement the ambitious National Determined Contributions (NDCs) set out by most African countries. The call for developed nations to meet their financial commitments was also emphasized at the recent 19th Ordinary Session of the African Ministerial Conference on the Environment, where African Ministers called for the necessity of grant-based resources for adaptation initiatives.
As African countries strive for resilience and self-reliance, it is imperative to allocate resources judiciously, fostering economic growth and environmental sustainability. A vital component of this endeavor involves operationalizing the loss and damage fund, enabling affected nations to cope with climate-induced adversities.
“Doubling adaptation funds and upholding the Glasgow Commitments are paramount for developed countries to fulfill their obligations promptly. Africa stands at a crossroads between development and climate impacts. Despite contributing just 4% of global greenhouse gas emissions, Africa is disproportionately vulnerable to climate change. The African Climate Summit provides a crucial platform for our leaders to advocate and secure robust commitments from developed nations ahead of COP28,” remarked Daudi Sumba, Regional Director for Eastern and Southern Africa.
“We urge President William Ruto – The Chair Committee of African Heads of State and Government on Climate Change (CAHOSCC) and other African leaders to steer the Summit’s outcomes towards innovative approaches that mobilize public and private financial institutions. This mobilization is critical to bolstering climate finance, particularly for adaptation and natural climate solutions, which are vital for Africa’s sustainability,” said Mohamed Awer, WWF-Kenya’s Chief Executive Officer.
Furthermore, the Summit’s agenda must encompass a definitive strategy to expedite the transition from fossil fuels to renewable energy. Africa boasts abundant renewable resources such as sunlight, wind, and hydroelectric potential, forming the bedrock of climate change mitigation. Pioneering an increase in global investments in African renewable energy sources, from 1% to 10% by 2028 and beyond, should be a pivotal goal.
“For Africa to embrace green growth, addressing fossil fuel phase-out is non-negotiable. Developed countries must exhibit unwavering support for Africa’s energy sector transformation. This includes robust climate finance commitments and strategies that fast-track financial flows. The energy transition must harmonize with sustainable development while being inclusive and preserving justice and equity in our fight against climate change,” emphasized Laurent Some, Head of Policy and Partnerships, WWF Regional Office for Africa.
WWF also calls the leaders to advocate for Africa’s unique needs and circumstances to be recognized at the UNFCCC COP28 and listed as an agenda item, following the omission at COP27.
WWF’s Position Paper outlines what leaders must prioritize at the Africa Climate Summit to take forward and agreed upon at COP28. This includes:-
● Effective roadmap for implementing Africa’s national climate plans through nationally determined contributions
● Urgent and adequate climate financing for Africa
● Acceleration of the energy transition by phasing out fossil fuels and scaling up renewable energy
● Recognizing and prioritizing high-quality nature-based solutions as key to mitigation and adaptation actions
● Advocate for recognition of Africa’s special needs and circumstances ahead of the UNFCCC COP28.
