by: Michel Nkurunziza, Courtesy of www.focus.rw
The World Bank has warned that the current level of climate adaptation funding which is insufficient could trigger extreme poverty in Africa by 2030.
Speaking during the Africa Carbon Forum in Kigali that is also discussing sources of climate finance and how to access them, James Close, the director of climate change at the World Bank Group said not addressing climate change could plunge 100 million more people into poverty by 2030 of which 43 million would be in Africa.
This could happen due to lower crop yields, higher food prices and negative health impacts from climate change if no coping mechanisms are put in place.
He said millions of Africans could be hurt by further warming that will cause disastrous consequences for the region in the form of heat extremes, increased risk of severe drought, crop failures every two years.
Participants at Africa Carbon Forum 2016 held from 28th – 30th June 2016, in Kigali, Rwanda – newsroom.unfccc.int
The Bank warns that there could be a 20% reduction in major food crop yields and by the end of the century, up to 18 million people might be affected by only floods every year.
The Bank says that the current level of climate adaptation funding in Africa is insufficient at about $3 billion per year and is not rising at the rate necessary to meet future needs.To combat the huge financing gap, the World Bank prepared the Africa Climate Business Plan as an important step in mobilizing climate finance to fast-track Africa’s climate adaptation needs while reducing greenhouse emissions.
Close told the participants at the Africa Carbon Forum that the World Bank plan estimates a need of $19bn from different sources by 2020 as finance to help Africa adapt to climate change effects.
The plan also notes that further results could be achieved by 2025 at a cost of about $21 billion.
Daniele Violetti, chief of staff at United Nations Climate Change Secretariat said; lack of commitment means the costs of climate change are projected to be higher, especially in some least developed and island developing countries are severely affected by climate change.
Anthony Nyong, the division manager, environment and social protection at AFDB stressed that as efforts to reduce emissions Africa Renewable Energy Initiative will benefit from a pledged finance of $10bn from several sponsors to enable Africa produce 300 gigawatts of electricity by the year 2030.
Rwanda faces climate effects
Minister of Natural Resources of Rwanda, Vincent Biruta said: “Rwanda felt the severe and tragic consequences of climate change last month when 56 of our citizens were killed in floods and landslides in the northern and western parts of the country.”
Biruta shared Rwanda’s own Green Fund (FONERWA) that has mobilized $100m and has approved 33 investments.He added, “This extreme weather event also left many homeless and is a clear illustration of the high level of vulnerability to climate change that we face. However, we believe the continent can overcome these kinds of challenges if we work as one. This is why the 2016 Africa Carbon Forum is so crucial.”
“The fund is investing in a range of initiatives, from landscape restoration and water resource management to clean energy and sustainable housing. To date, the fund’s investments have employed more than 20,000 people in green jobs and protected close to 10,000 hectares of land and water bodies”, he said.
He said the country has set up the ambition to be a developed, climate resilient and low carbon economy by 2050.
“Rwanda is planning to put in place systems for emission tracking to monitor report and verify any progress made towards greenhouse gas emission reduction. Such concrete achievements are needed towards green development and climate resilience”, said ONE UN representative, Mr. Lamin M. Manneh.