With the 27th UN climate conference (COP27) just two months away, a report from the Climate Policy Initiative (CPI) is putting pressure on rich countries. The document, published on 11 August 2022 in London, UK, states that Africa receives only 12% of the funding it needs to manage the impact of climate change. In 2020 the continent received $29.5 billion against the $250 billion needed.
A new report highlights the low level of climate finance allocated to Africa. The continent receives only 12% of the funding it needs to manage the impact of climate change. Around $250 billion is needed each year to help African countries adopt greener technologies and adapt to the effects of climate change. But in 2020, this funding was only $29.5 billion, according to a report by the Climate Policy Initiative (CPI), released on 11 August 2022 in London, UK.
This data once again reflects the climate injustice facing Africa. The continent has about one-fifth of the world’s population, but produces less than 3% of its carbon dioxide emissions, according to the International Energy Agency (IEA).
Rich countries are increasingly being criticised for failing to keep their promise made in 2009 at the 15th United Nations climate conference (COP15) in Copenhagen, Denmark. Northern countries pledged in 2009 to increase assistance to Southern countries to adapt to the impacts of climate change and reduce their greenhouse gas emissions to $100 billion by 2020. This promise has since become a recurring source of anger for poor countries, the first victims of the impacts of climate change, who denounce the lack of solidarity on the part of rich countries, the main culprits of global warming.
Putting pressure on countries in the run-up to COP27
The study published by the ICC is part of a series of reports aimed at putting pressure on rich countries to do more in the run-up to the global climate talks in November 2022.
The 27th UN climate conference (COP27) is shaping up to be much more of a global climate finance event in Africa.
Read also-COP27: the rendezvous of climate finance in Africa?
The Intergovernmental Panel on Climate Change (IPCC) also agrees that climate finance is insufficient in Africa. In the third part of its sixth climate report, devoted to the mitigation of global warming, published on 4 April 2022, the IPCC notes that developing countries are struggling to receive the promised multilateral aid, but also to attract private green investments that lack adequate public guarantees. For the time being, neither the amounts nor the financial mechanisms are in place to support Africa in its transition to a low-carbon economy.
Boris Ngounou
