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Africa Calls for Climate Finance Tracker

198 Nigeria News by 198 Nigeria News
October 22, 2021
in NIGERIA USA NEWS
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A MONTH after President Samia Suluhu Hassan took the campaign against the effects of climate change to the global audience; African countries have called for a climate finance tracker after donors fall short.

Addressing the United Nations General Assembly (UNGA) summit last month, President Samia told world leaders that they should not take for granted the importance of fighting the calamity.

In her speech, President Samia nailed it clearly and called on developed countries to fulfill climate finance goals of donating 100 billion US dollars by 2025 to facilitate the implementation of the Paris Agreement.

And now African countries want a new system to track funding from wealthy nations that are failing to meet a $100bn annual target to help the developing world tackle climate change, Africa’s lead climate negotiator has said.

“African countries want a new system to track funding from wealthy nations that are failing to meet a US dollars 100 billion annual target to help the developing world tackle climate change, Africa’s lead climate negotiator said.

The demand highlights tensions ahead of the 2021 United Nations Climate Change Conference (COP26) between the world’s 20 largest economies, which are behind 80 percent of greenhouse gas emissions, and developing countries that are bearing the brunt of the effects of global warming.

“If we prove that someone is responsible for something, it is his responsibility to pay for that,” said Tanguy Gahouma, chair of the African Group of Negotiators at COP26, the United Nations climate summit in Glasgow, Scotland, which starts on October 31.

In 2009, developed countries agreed to raise US dollars 100 billion per year by 2020 to help the developing world deal with the fallout from a warming planet.

The latest available estimates from the Organisation for Economic Co-operation and Development (OECD) show this funding hit $79.6bn in 2019, just two percent more than in 2018. The OECD data shows Asian countries on average received 43 percent of the climate finance in 2016-19, while Africa received 26 percent. Gahouma said a more detailed shared system was needed that would keep tabs on each country’s contribution and where it went on the ground.

“They say they achieved maybe 70 percent of the target, but we cannot see that,” Gahouma said on Tuesday. “We need to have a clear road map of how they will put on the table the $100bn per year, how we can track (it),” he said in an interview on Thursday.

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“We don’t have time to lose and Africa is one of the most vulnerable regions of the world.” Even as wealthy nations miss the US dollars 100 billion target, African countries plan to push for this funding to be scaled up more than tenfold by 2030. “The US dollars 100bn was a political commitment.

It was not based on the real needs of developing countries to tackle climate change,” Gahouma said. World leaders and their representatives have just a few days at the summit in Glasgow to try to broker deals to cut emissions faster and finance measures to adapt to climate pressures.

During the preliminary meeting on climate change held in New York, USA last month, President Samia said: “Though many people take simply the matter of raising temperature, which is one of effects of the climate change, for Tanzania the situation causes drought which negatively impacts sectors like agriculture and fisheries which depend on natural resources,” Ms Samia said, noting that those sectors contribute by 30 per cent to the national income, thus drought affects 60 per cent of the citizens.

The meeting on climate change was part of a series of preparatory meetings for the 26th UN climate change conference (COP26) to be held in November, this year, in Glasgow, Scotland.

The meeting, among others, discussed the availability of funds to finance sustainability and mitigating effects of climate change.

The meeting participants also brainstormed over the importance of putting emphasis on measures against climate change facing the globe.

The climate change effects caused damages to environment and retarded economic growth in the affected countries as well as endangered security.

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