African countries push for funding to adapt to climate change

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SHARM EL-SHEIKH, Egypt (TBEN) — Fighting droughts, sandstorms, floods, wildfires, coastal erosion, cyclones and other weather events exacerbated by climate change will force the African continent to adapt, but it needs money, leaders and the continent’s negotiators said at the UN climate summit.

It is one of the main priorities for the African Group of Negotiators at the summit, known as COP27, which is currently underway in Egypt. Ephraim Shitima, the group’s chairman, said Africa is eager to see the results of the negotiations translated into action for the continent where millions of people are facing climate-related disasters.

Shitima said the summit should “provide solutions to the millions of people on the continent”, adding that Africa needs funding to adapt to extreme weather and “to facilitate a just energy transition and increase the uptake of renewable energy.” stimulate”.

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A recent World Bank study said climate-related events will push more than 132 million people into poverty worldwide, with African countries losing between 10% and 15% of their GDP by 2050.

Africa produces only 4% of global warming despite making up 17% of the world’s population, but is particularly vulnerable to climate change.

Climate financing to adapt to climate-related disasters and prevent them from getting worse remains a thorny issue in climate negotiations. A pledge of $100 billion a year in climate finance has yet to be fulfilled, despite the TBEN being two years past.

Speakers in the Africa Pavilion at the conference reflected on how to close the gap between the continent’s financial needs in terms of climate and what it actually receives, which is currently estimated by the African Development Bank at $160 billion to $340 billion by 2030. , can be closed.

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Earlier this week, Antigua and Barbuda Prime Minister Gaston Browne called for taxing fossil fuel profits to help developing countries and small island nations adapt to climate change and move to clean energy.

“We know they are making excessive profits,” he said. He added that countries would seek compensation for climate damage from major polluters, known as loss and damage in climate negotiations.

“We see this funding for loss and damage as a form of solidarity from countries standing next to each other and as a form of funding for countries in need,” Brown said.

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Seychelles President Wavel Ramkalawan said the leaders of the Alliance of Small Island States are also seeking new financing facilities for loss and damage.

“We’re definitely pushing for that,” Ramkalawan told The The Bharat Express News.

The least developing countries group, which represents some 46 low-income countries, has also made money for adaptation and loss and damage among their main demands.

“COP27 must keep adjustment at the center,” said Madeleine Sarr, the chair of the MOL group, adding that the group “wants to see how the shortfall in the $100 billion a year pledge will be made up.”

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