It is widely known that Africa is heavily impacted by carbon emissions from Western countries, leading to increased exposure to natural disasters such as droughts, famines, floods, earthquakes, landslides, El Nino, and more.
Despite recognizing this reality and having an obligation to fund green projects on the continent, developing countries that continue to emit significant carbon from their industries have not committed enough to support green development projects in African nations. As a result, African countries still require climate financing and support, even as COP29 approaches.
Duringa high-level side event at COP29, there was a strong emphasis on the urgent need for increased climate financing and global cooperation to address Africa’s escalating climate challenges.
African countries have consistently called on global partners to match Africa’s commitment to combating climate change with substantial, actionable support. They have highlighted the devastating impact of climate change on the continent, where nations lose up to 5 percent of GDP annually due to climate-related disruptions. Despite Africa’s minimal contribution to global emissions, the continent faces disproportionate challenges and risks, exacerbated by existing inequities in climate finance.
Africa is committed to doing its part in combating climate change, but it calls upon global partners to match this commitment with actionable support to avoid increased risks for all.
There are five critical policy priorities that could guide Africa towards a climate-resilient future, including leveraging Africa’s vast mineral resources for a green economic transformation, enhancing the continent’s carbon capture potential, and committing to the New Collective Quantified Goal (NCQG) for Africa’s climate financing needs, estimated at USD 1.3 trillion.
The transition to renewable energy is crucial to safeguard Africa’s long-term economic resilience. As the world moves towards a green economy, Africa has an opportunity to position itself at the forefront. Coordinated policies and investments could make Africa a global hub for clean energy.
The international community must take urgent, decisive action to limit greenhouse gas emissions, recognizing that the cost of inaction far outweighs the investment needed to build a resilient and prosperous future for Africa and the world.
While much is expected in terms of climate financing from developing countries through carbon trading, African nations should also initiate green development projects with multiple benefits for their people impacted by climate change.
Ethiopia’s ongoing climate mitigation efforts, particularly the Green Legacy Initiative, serve as a best practice that should be replicated across Africa and globally. The initiative has significantly improved food security and environmental protection in Ethiopia, with over 566 million saplings planted in a single day last year
As the nation prepares for a massive tree-planting campaign, expectations are high that the Green Legacy Initiative will continue to yield positive results for the environment and its people. Ethiopia has planted a remarkable number of seedlings over the past five years, actively engaging citizens in the planting event.
In pursuit of its ambitious goal of planting 50 billion trees, Ethiopia planted 7.5 billion trees last year and aims to reach 40 billion seedlings from the overall target of 50 billion. Ethiopia has already planted over 32.5 billion tree seedlings.
While countries responsible for significant climate change have a mandatory obligation to finance green projects in Africa, African nations should also invest in mitigating climate challenges.
Developing countries should support African nations as climate change impacts livelihoods. Green development assistance for African countries should be separate from other forms of aid to avoid confusion and ensure transparency.
Climate change is a global challenge that requires collective action. Each of us is responsible for addressing climate change impacts through green development projects, regardless of our varying contributions.
Climate action and collaboration are essential to secure Africa’s future amidst climate change. Africa and its institutions are committed to working with partners to establish an equitable approach to scaling climate finance for the continent. Together, we can ensure a sustainable future for Africa and the world.
Editor’s Note: The views entertained in this article do not necessarily reflect the stance of The Ethiopian Herald
BY GIRMACHEW GASHAW
THE ETHIOPIAN HERALD THURSDAY 21 NOVEMBER 2024
