CCDA -XII:  Climate Finance and a Collective Call for New Collective Quantified Goal at a Higher Note

This year, Abidjan will be remembered for the consistent and firm call by stakeholders, including multilateral organizations and others, for the continent to stand up in one voice. This call aims to ensure that an ambitious new quantified goal on adaptation finance is attained and that Africa benefits, rather than passively observing what happens.

This call was made at the 12^th  Conference on Climate Change and Development in Africa (CCDA-12) kicked off on August 30, 2024, in Abidjan, Ivory Coast. The conference takes place ahead of COP 29  which will take place in Baku, Azerbaijan toward the end of this year. The COP29 was dubbed Climate Finance COP.

At the opening of the conference, the Côte d’Ivoire’s Minister of Environment, Jacques Assahoré Konan firmly stated that Africa contributes less than 4% of global greenhouse gas emissions, yet bears the brunt of climate-related consequences. He asserted the need for adaptation so that Africa can address the adverse effects caused by climate change.

 “The theme of this conference, ‘Financing Climate Adaptation and Resilience in Africa,’ and the expertise gathered here offer a beacon of hope for the continent,” Minister  Konan said.

Hanan Morsy, ECA Deputy Executive Secretary and Chief Economist said that the failure to increase global climate finance for adaptation, in contrast to the expected doubling by 2025, presents a grave threat to the accomplishment of the Sustainable Development Goals (SDGs) and existing resilience investments.

 In 2009 Developed countries pledged $100 billion annually, however, only a fraction of the estimated $1.3 trillion needed to support global climate resilience has been mobilized. Additionally, the commitment to double global climate finance for adaptation fell short as few months remain to reach the deadline committed.

Dr Mithika Mwenda, Executive Director of PACJA said that this unfulfilled commitment widened the gap between what is needed and what is provided and that it continues to grow, undermining our efforts to build resilience, create jobs, and foster green growth.

“Africa’s adaptation needs are unique and significant, driven by the continent’s particular vulnerabilities to climate change. We cannot afford a one-size-fits-all approach. Financing must be tailored to the specific challenges faced by our communities, ensuring that funds reach those who need them most and are used effectively to build resilience and protect livelihoods. This is not just a matter of justice; it is a matter of survival” Dr Mithika emphasized.

Dr Mithika added that Africa must push for the full realization of the New Collective Quantified Goal (NCQG) on climate finance, demand faster technology transfer, and finalize the rules governing carbon markets. He stressed that the upcoming Conference of Parties must address the outstanding issues of adaptation financing, loss and damage, and ensure that Africa’s needs are met.

“By scaling up climate action, particularly at the intersection of climate and biodiversity, we can unlock new avenues for sustainable development. We can and must lead the way in creating a future where Africa’s cities, communities, and ecosystems are resilient and thriving”, Dr Mithika added.

CCDA-XII_OPENING REMARKS_MITHIKA