Saturday, July 02, 2016

Africa Needs over $3 Trillion to Mitigate Climate Change

World Bank country manager Yasser El-Gamal speaks during the Africa Carbon Forum in Kigali yesterday. (Credit: Timothy Kisambira) Click to Enlarge.
African countries need at least $2.7 trillion for mitigation measures and another $488 billion for adaptation to climatic change to be met in 2030, according to the estimates from Intended Nationally Determined Contributions (INDCs) for adaptation to climate change.

Speaking during the Africa Carbon Forum in Kigali, Thursday, Yasser El-Gammal, the World Bank country manager, said the amount is based on countries that have already declared their INDCs, adding that there are few others yet to submit.

According to the World Bank, under current estimates, Africa requires $5 to $10 billion per year to adapt to global warming.

The World Bank and the United Nations Environment Programme estimate that the cost of managing climate resilience will continue to rise to $20 billion to $50 billion by mid-century, and closer to $100 billion in the event of a 4°C warming.

This scenario illustrates how global warming poses huge effects to life.

El-Gammal noted that the Bank has committed to mobilize about $90 billion for adaptation programmes to global warming by 2020 (for worldwide use).
El-Gammal said the money will be spent on five main areas of focus, including smart energy use, water and food security, and looking up technologies through which to scale up local energy resources such as solar energy, a project he said is now taking place in Rwanda.

Others are resilient cities and sustainable development.

Read more at Africa Needs over $3 Trillion to Mitigate Climate Change

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