Browsing: Africa climate finance gap

Climate Adaptation
  • In Benin, the Fund will support the design of climate adaptation measures and best practices in port operations.
  • The financing will see Morocco produce and sell 105 million cubic meters of potable water to around 1.5 million people in Safi and El Jadida.
  • These measures will mitigate the imminent climate change risks associated with temperature and sea level rises and droughts.

The Canada–African Development Bank Climate Fund (CACF), established to support gender-affirmative climate change projects in Africa, has approved $36.3 million for two private sector operations to advance climate adaptation initiatives across Africa.

This amount, provided in the form of concessional loans to private sector companies, includes $18.3 million approved for the rehabilitation and expansion of the Port Autonome de Cotonou in Benin and another $18 million to support the construction of three seawater desalination plants under the Green Investment Program of the OCP Group.

Climate adaptation in Benin

  • 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…

  • East Africa’s largest economy Kenya grappling with about 79 per cent climate change financing gap. 
  • The virtual academy will provide access to borderless, flexible, informative training to foster skills, knowledge and collaborations on climate change. 
  • Lack of understanding about the effects of climate change has also contributed to the huge climate change financing gap.

Kenya is facing a 79 percent climate change financing gap amidst increasing global warming effects causing havoc in developing countries. The African Centre for Technology Studies (ACTS) Climate Change Programme lead, Dr Joel Oyango, says the situation will turn worse if nothing is done to finance adaptation to climate change effects.

“Kenya is already feeling the effects of climate change. The widespread poverty, recurrent droughts, and floods coupled by inequitable land distribution. Overdependence on rain-fed agriculture and limited coping mechanisms all combine to increase people’s vulnerability to climate change,” Dr Onyango said.

He said many Kenyans …