African countries should prioritize climate adaptation over mitigation. This insight comes from Valli Moosa, a former South African minister and expert in environmental policy. He emphasizes that Africa contributes less than 4% to global carbon emissions, while major economies like the G7 and China account for nearly 60%.
Moosa suggests that African nations should allocate 80% of their climate resources to adapting to the effects of climate change and 20% to reducing emissions. He believes that international pressures often focus too much on renewable energy, sidelining the urgent need for adaptation strategies.
Currently, adaptation projects receive limited funding compared to mitigation efforts, which mainly attract investors looking at cleaner energy solutions. However, there’s a shift occurring. Infrastructure projects and nature-based solutions are starting to gain traction. According to a report by Singapore’s GIC Pte, the revenue from climate adaptation could reach $4 trillion by 2050. This opens doors for investments in areas like flood insurance and firefighting technology.
Overall, the push for adaptation not only addresses immediate local challenges but also offers new business opportunities. As climate events become more frequent, the importance of this approach will only grow.
For further insights, you can check recent findings from the European Commission on global emissions trends here.
