Browsing: Africa climate change funding

• Globally, it’s time to usher in an era of sustainable resource management, embrace green practices, or face the risk of extinction.
• Achieving development without polluting our surroundings is not only vital for human well-being but is the bedrock of our very survival.
• Fuel subsidies provided to oil companies by governments have perpetuated the use of polluting fuels, leading to staggering mortality figures.

The world’s pursuit of progress and development has come at a hefty price, as pollution and environmental degradation threaten our very existence. Clean air, land, and water – the fundamental pillars of life – are now under siege due to unchecked industrialization and unsustainable practices. The question looms: Can humanity continue to advance without imperiling its own survival?

Sustainable financing

The urgency of the situation is crystal clear. Achieving development without polluting our surroundings is not only vital for human well-being but is the bedrock of our very …

• The long-term effects of Covid-19 and the climate crisis are felt more acutely in Africa than elsewhere.
• Africa’s additional financing needs resulting from the pandemic will amount to $285 billion over the four years ending 2025.
• Sub-Saharan Africa endured a recession in 2020 for the first time in 25 years.

NEW YORK – Africa bears virtually no responsibility for the greenhouse-gas emissions driving the climate crisis. It is not responsible for the conflicts or supply-chain disruptions that have driven global inflation. Nor did it trigger the spread of COVID-19, let alone cause the pandemic’s economic fallout. And yet the long-term effects of this trio of crises linger perhaps more acutely in Africa than elsewhere.

Africa grappling with anemic economic growth

The International Monetary Fund has estimated that Africa’s additional financing needs resulting from the pandemic will amount to $285 billion over the four years ending in 2025. But inflation, exchange-rate …

• The African Development Bank (AfDB) has exceeded its mobilisation target for the Just Green Transition (JGT) initiative, raising $2.3 billion to help address Egypt’s climate woes.
• Initially, AfDB had set a target of $1.4 billion for the programme aimed at building the resilience of vulnerable systems and promoting sustainable development.
• JGT initiative has a pipeline of investment-ready projects worth $14.8 billion to tackle the water-food-energy nexus. 

The African Development Bank (AfDB) has surpassed its mobilisation target for The Just Green Transition (JGT) initiative after raising $2.3 billion which will be invested in tackling climate change-related challenges in Egypt. 

The financial institution had initially set a target of $1.4 billion for the initiative to build resilience of vulnerable systems and promote sustainable development in the country.

Already, the Just Green Transition (JGT) initiative has a pipeline of investment-ready projects worth $14.8 billion to tackle the nexus on water, food and …