Browsing: Climate finance

• President Samia Suluhu Hassan highlighted the need for international commitment to climate agreements and innovative financing, including a $700 million green bond initiative for adaptation and mitigation strategies while representing Tanzania at COP28.
• Through the African Group of Negotiators, African nations pushed for a just energy transition and increased climate financing, advocating for the right to use fossil fuels for development before transitioning to renewable energy sources.
• Global leaders recognized Africa’s climate adaptation needs, with significant pledges such as the UK’s GBP 1.5 billion commitment for adaptation in Africa by 2025 and the African Development Bank Group’s initiative to mobilize $14 billion for low-income African countries.

Tanzania at COP28

Tanzanian President Dr Samia Suluhu Hassan played a pivotal role at the COP28 climate summit in Dubai, where she emphasized the critical need for the international community to fulfil unmet commitments related to climate change. Her speech brought to the fore …

A considerable gap exists between symbol and substance regarding an African climate change approach. Foreign leaders often nod to how Africa accounts for only four per cent of global emissions but bears the brunt of the devastating climate change effects. Rising temperatures, extreme weather conditions, and ecosystem disruptions threaten millions of Africans’ livelihoods.

For many communities across the continent, the climate threat is already existential. With 18 per cent of the global population, Africa has 16 of the 20 countries most vulnerable to climate change, according to Notre Dame Global Adaptation Initiative.…

The calls for concrete, concomitant, and substantive actions against carbon emissions are not an exaggeration. The effects of climate change are obvious, even for the casual observer to see. Presently a devastating hurricane, Ian has made landfall on the United States coast of Florida. The tropical storm which tore through Cuba and made landfall in the United States a day ago has reportedly left an estimated 2.5 million people without electricity.

NBC News called hurricane Ian one of the most powerful storms ever to hit the United States. The hurricane it is said, has caused devastation and flooding that has left residents of Miami and Florida trapped in their homes. Hurricane Ian has been described as a category 4 hurricane with speeds of as much as 150 miles per hour or 240 kilometres per hour. Speeds like that make such a storm a threat to life and property. President Joe …

The United Nations (UN) Climate Change Conference COP 25, has levitated the climate action landscape in Africa

This has led to the African Development Bank (AfDB) to join forces with 11 other international organizations to assist developing countries to build resilience against the impact of natural disasters caused by extreme weather.

The initiative comes at a rather perfect moment, especially when the region is faced with unprecedented catastrophic weather events affecting the continent’s economy.

According to AfDB, the institutions came together at the COP 25 climate change conference in Madrid on Tuesday to launch the Alliance for Hydromet Development.

Alliance for Hydromet Development

According to the World Meteorological Organization (WMO), the Alliance for Hydromet (hydrological and climate services) Development brings together major international development, humanitarian and climate finance institutions, collectively committed to scale up and unite efforts to close the hydromet capacity gap by 2030. It aims to increase …

In July last year, Equity Bank and Orb Energy partnered to offer tailor-made loans to enable homes, institutions and industries acquire solar water heating systems.…