In September during the climate summit in Rotterdam, Netherlands, the wealthy nations pledged to fund about $25 billion by 2025 to boost Africa’s efforts to adapt to climate change. It was billed as the largest ever climate adaptation effort worldwide.
“It is a lot, of course, but it is derisory,” said Ghana’s President Nana Akufo-Addo, reminding us that G20 countries “are responsible for 80 percent of [gas] emissions.” He criticized Western nations for their low financial commitment to the continent, Al Jazeera reported.
Africa accounts for less than 4 percent of global greenhouse gas emissions, but suffers more than any other region of the world. Climate change has gripped the continent and the latest UN report shows that 2021 was the third or fourth warmest year on record for Africa.
The East African drought has worsened following consecutive failed rainy seasons, along with heightened conflict and population displacement. Many parts of Northern Africa experienced extreme heat, accompanied by wildfires. Over the past 50 years, drought-related hazards have claimed the lives of over half a million people and triggered $70 billion in regional economic losses. Temperature increases have led to a 34 percent decrease in agricultural productivity growth in Africa since 1961, more than any other region in the world. That’s just the tip of the iceberg, and if strong actions aren’t taken, the disaster would worsen.
“The impacts are massive.” During the Rotterdam summit, Akinwumi Adesina, president of the African Development Bank, told the media. Adesina said Africa will require a range of $1.3 and $1.6 trillion this decade to implement its commitments to the Paris climate agreement, at an annual cost between $140 and $300 billion.
According to Adesina’s statement, the financial pledges by rich countries are well below the necessary amount to implement the continent’s long-term climate adaptation and mitigation plans. It is less than what Africa hopes to achieve in the short term, let alone transition the continent into a more environmentally-friendly economic and social system.
The pledges are insufficient to support Africa’s efforts to contribute its fair share to limit the global temperature rise to no more than 1.5 degrees Celsius, a target the world hopes to reach in the coming years. African leaders have long been pleading with the rich nations to offer more sustainable finance to accelerate its climate-oriented actions.
Meanwhile, many African countries have revised their national climate plans to make them more ambitious on climate adaptation and mitigation. Africa has already made tremendous strides in building an economy of climate resilience.
Yet, if Africa seeks to advance on its climate actions while not losing its ground of solid achievement, it requires more financial support. Akufo-Addo is not the only African leader to criticize the scant Western climate finance packages. Akufo-Addo’s concerns can’t be ignored. Africa has to tackle this pressing issue, along with addressing many other significant challenges confronting the continent.
Africa is grappling with a list of challenges arising out of interior structural problems and external threats. Africa can’t afford to fully finance its climate change programs unless it can work with external resource mobilization channels. Wealthy countries should consider what they can salvage in order to address the financial challenges facing African countries before things go very wrong.
The trend implies that the risks of climate challenges are very probable – without showing any abetting sign unless something is done. Africa is the lowest emitter, but only if the continent can maintain the status quo while addressing climate resilience; otherwise the opposite is true. Accordingly, Western nations should admit that the recent climate finance pledges to Africa fall short of expectations. The wealthy nations should offer more financial support for the cause, or the world would fail Africa in this regard.
