Innovative financing needed to tackle climate change in Africa
The regional climate gathering is focused on accelerating collaboration and integrating climate action into the global COVID-19 pandemic recovery, and is key in building regional momentum for a successful COP26, scheduled to take place this November in Glasgow, Scotland.
One of the speakers, Jean-Paul Adam, who is the director of technology, climate change and natural resource management at the UN Economic Commission for Africa (ECA) said “at both the national and global levels, the conversation is built around finance, because the COVID-19 pandemic has further narrowed the fiscal space available to African countries to mobilize the desperately needed resources.”
Mr. Adam said it was crucial for developed countries to meet their $100 billion climate finance pledge to help the most vulnerable people in developing countries.
“The $100 billion is just the first step, as we need to have a detailed schedule of resources that will be available for African countries to invest in a green recovery,” said Mr. Adam.