Transforming Africa: How a $3 Trillion Investment Can Help Meet Climate Goals, Says AU – Platform Times

Admin

Transforming Africa: How a  Trillion Investment Can Help Meet Climate Goals, Says AU – Platform Times

The African Union (AU) recently highlighted a pressing need: Africa requires over $3 trillion to meet its climate goals. This isn’t just a financial figure; it’s a call for survival. During a briefing before the upcoming Africa Climate Summit in Addis Ababa, Moses Vilakati, the AU Commissioner for Agriculture, emphasized that without this funding, Africa’s ability to combat climate change is severely compromised.

He noted that despite contributing the least to global greenhouse gas emissions, Africa bears the brunt of climate change’s effects. This is primarily due to geographic vulnerabilities and economic challenges. Alarmingly, the continent received only $30 billion in climate finance from 2021 to 2022—merely a sliver of what is necessary.

So far, only about 18% of Africa’s mitigation needs and 20% of its adaptation financing are being met. Vilakati urged African nations, private investors, and global partners to work together to enhance climate funding. A key goal is to triple Africa’s renewable energy capacity to 300 GW by 2030, taking advantage of the continent’s abundant solar resources.

Ethiopia’s State Minister for Planning, Seyoum Mekonnen, stressed that this summit aims to change the narrative around Africa. Instead of being seen as a victim of climate change, Africa should be recognized as a source of solutions. He pointed to Ethiopia’s Green Legacy Initiative, which has successfully planted over 40 billion trees, increasing forest cover from 17.2% in 2019 to 23.6% in 2023.

This summit is not just an event; it’s part of a broader movement. It will include voices from various sectors—government, finance, science, and civil society—all aiming to reshape Africa’s climate future.

Recent surveys show that the majority of Africans support strong climate actions, highlighting a growing awareness and desire for change. As discussions like these unfold, we are reminded that Africa’s potential is significant. The continent is not only a victim of climate change but also a key player in finding solutions. According to climate experts, effective funding and innovative technologies could transform Africa into a leader in renewable energy.

As the summit approaches, it’s a crucial moment to reflect on Africa’s role in the global climate dialogue. The stakes are high, and the time for action is now.



Source link