Climate finance critical for Africa
Millions of Africans at risk of displacement
Environment minister Pohamba Shifeta spoke at the Green Climate Fund's (GCF) Regional Dialogue with Africa, which is being hosted in Namibia under the theme 'Inspire More Climate Action' until 10 November.
Climate finance is critical for enabling Africa to adapt to the growing impacts of climate change and to ensure that its future development is consistent with the goal of limiting global warming to no more than 1.5 degrees Celsius.
Environment minister Pohamba Shifeta said this at the Green Climate Fund's (GCF) Regional Dialogue with Africa, which opened on Monday in Windhoek under the theme 'Inspire More Climate Action'.
Shifeta said Africa is responsible for only a fraction of global greenhouse gas emissions but is suffering disproportionate consequences.
Rising concerns
He said the negative impact of climate change has increased fears that environmental degradation and demographic pressures will displace millions of people in Africa and cause serious social upheaval.
Shifeta said many climate models predict negative impacts on agriculture and food security in large parts of sub-Saharan Africa.
“Higher temperatures, the drying up of soils, increased pest and disease pressure, shifts in suitable areas for growing crops and livestock, increased desertification in the Sahara Region, floods, deforestation and erosion are all signs that climate change is already happening and represents one of the greatest environmental, social and economic threats facing Africa.”
He said for the continent, adaptation to the adverse impacts of climate change is urgent, but yet financing is only a drop in the ocean of what is needed.
Committed action
Shifeta explained that under the Paris Agreement reached at COP21, all countries agreed to take collective action on climate change to keep global temperature increases to no more than 2°C above pre-industrial levels. Nearly all African countries have signed and ratified the Paris Agreement and have committed to enhancing climate action through reducing their greenhouse gas emissions and building resilience.
African countries have outlined bold aspirations to build climate-resilient and low-carbon economies in their Nationally Determined Contributions (NDCs) to the Paris Agreement, Shifeta said.
“However, many of our commitments are conditional upon receiving adequate financial, technical and capacity-building support.”
Private support
Shifeta said public funding alone will not be sufficient, given the magnitude of investments needed and current and future constraints on public domestic resources in Africa.
The private sector has significant potential to meet Africa’s climate finance needs.
“To mobilise private finance, public actors need to improve policy frameworks and investment environments and deploy concessional financing to target investment barriers," the minister said.
He emphasised the need for developed countries to fulfil their pledges in relation to climate and development finance and deliver on their commitments to double adaptation finance, in particular to Africa.
Tangible change
Shifeta said the funding of projects such as the Community-Based Natural Resource Management Enhancement for Drought Adaptation (CBNRM EDA), Climate Resilient Agriculture for Varying Environments (CRAVE), Integrated Resilient Ecosystems Management in Arid Namibia (IREMA), and Ecosystem-based Adaptation (EbA), totalling over N$ 640 million, exemplifies Namibia’s commitment to tangible, impactful change.
Shifeta said that these initiatives showcase the power of collaboration between Namibia and the GCF.
“The recent re-accreditation of the Environmental Investment Fund of Namibia to the GCF recognises the opportunities that come with this renewed commitment.”
He said Namibia recognises the important role of the GCF as the world’s largest climate fund, mandated to support developing countries to raise and realise their nationally determined contributions (NDC) ambitions towards low emissions and climate-resilient pathways.
He said GCF aims to make an ambitious contribution to attaining the mitigation and adaptation goals of the international community with the goal of keeping the temperature increase of the planet below two degrees Celsius.
“Over time, it is expected to become the main multilateral financing mechanism to support climate action in developing countries.”
Environment minister Pohamba Shifeta said this at the Green Climate Fund's (GCF) Regional Dialogue with Africa, which opened on Monday in Windhoek under the theme 'Inspire More Climate Action'.
Shifeta said Africa is responsible for only a fraction of global greenhouse gas emissions but is suffering disproportionate consequences.
Rising concerns
He said the negative impact of climate change has increased fears that environmental degradation and demographic pressures will displace millions of people in Africa and cause serious social upheaval.
Shifeta said many climate models predict negative impacts on agriculture and food security in large parts of sub-Saharan Africa.
“Higher temperatures, the drying up of soils, increased pest and disease pressure, shifts in suitable areas for growing crops and livestock, increased desertification in the Sahara Region, floods, deforestation and erosion are all signs that climate change is already happening and represents one of the greatest environmental, social and economic threats facing Africa.”
He said for the continent, adaptation to the adverse impacts of climate change is urgent, but yet financing is only a drop in the ocean of what is needed.
Committed action
Shifeta explained that under the Paris Agreement reached at COP21, all countries agreed to take collective action on climate change to keep global temperature increases to no more than 2°C above pre-industrial levels. Nearly all African countries have signed and ratified the Paris Agreement and have committed to enhancing climate action through reducing their greenhouse gas emissions and building resilience.
African countries have outlined bold aspirations to build climate-resilient and low-carbon economies in their Nationally Determined Contributions (NDCs) to the Paris Agreement, Shifeta said.
“However, many of our commitments are conditional upon receiving adequate financial, technical and capacity-building support.”
Private support
Shifeta said public funding alone will not be sufficient, given the magnitude of investments needed and current and future constraints on public domestic resources in Africa.
The private sector has significant potential to meet Africa’s climate finance needs.
“To mobilise private finance, public actors need to improve policy frameworks and investment environments and deploy concessional financing to target investment barriers," the minister said.
He emphasised the need for developed countries to fulfil their pledges in relation to climate and development finance and deliver on their commitments to double adaptation finance, in particular to Africa.
Tangible change
Shifeta said the funding of projects such as the Community-Based Natural Resource Management Enhancement for Drought Adaptation (CBNRM EDA), Climate Resilient Agriculture for Varying Environments (CRAVE), Integrated Resilient Ecosystems Management in Arid Namibia (IREMA), and Ecosystem-based Adaptation (EbA), totalling over N$ 640 million, exemplifies Namibia’s commitment to tangible, impactful change.
Shifeta said that these initiatives showcase the power of collaboration between Namibia and the GCF.
“The recent re-accreditation of the Environmental Investment Fund of Namibia to the GCF recognises the opportunities that come with this renewed commitment.”
He said Namibia recognises the important role of the GCF as the world’s largest climate fund, mandated to support developing countries to raise and realise their nationally determined contributions (NDC) ambitions towards low emissions and climate-resilient pathways.
He said GCF aims to make an ambitious contribution to attaining the mitigation and adaptation goals of the international community with the goal of keeping the temperature increase of the planet below two degrees Celsius.
“Over time, it is expected to become the main multilateral financing mechanism to support climate action in developing countries.”
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