BY BAMIDELE FAMOOFO
The GDP of Africa has been projected to lose about $50billion to climate change come 2040. The continent suffers an average loss of $11 billion annually according to figures released at the 2022 African Economic Conference held in Mauritius.
The conference opened with a strong call for Africa to adopt smart technologies to tackle what speakers described as ‘the looming climate change threat’ to the continent.
“Supporting climate-smart development in Africa is extremely pertinent. Climate change is a looming threat to Africa. The continent is the most vulnerable region to climate disasters,” Pravind Kumar Jugnauth, Prime Minister of Mauritius said at the conference opening.
Prime Minister Jugnauth stressed how the rise in petroleum prices caused by Russia’s war in Ukraine should quicken Africa’s motivation to shift away from fossil fuels and become self-sufficient in electricity production. “In order to face the challenges of climate change more effectively Africa needs the support and assistance of development partners,” he added.
The largest pan-African economic meeting is being held under the theme “supporting climate-smart development in Africa.” It is bringing together various stakeholders— policymakers, climate experts, the private sector, researchers, and youth—to discuss and draft an action plan to support the low-carbon and climate-resilient development of Africa.
In a speech read by Acting Chief Economist and Vice-President, Prof. Kevin Urama, the African Development Bank President Akinwumi Adesina underscored the urgency of Africa adapting to climate change.
“Africa is suffering from the devastating effects of climate change, from droughts, floods, irregular rainfall, locusts, and armyworms, ” he said. “Supporting climate-smart, environmentally friendly development is one step in the right direction,” he said.
During COP27, the African Development Bank and its partners launched the Alliance for Green Infrastructure in Africa to speed up the development of green infrastructure in Africa.
In her remarks, Assistant Administrator and Director of the Regional Bureau for Africa at the United Nations Development Programme, Ahunna Eziakonwa, emphasized that Africa’s path to attaining Sustainable Development Goals must be climate smart.
“In 2022, we have seen a climate emergency hitting with increasing intensity. At the same time, climate-change-induced drought is precipitating hunger and even famine in regions such as the Horn of Africa,” she added. “Protecting the planet cannot be an option, it is an urgent priority.”
Speaking at the recently concluded United Nations Climate Change Conference, COP 27, she said: “While COP27 in Egypt did not achieve the drastic reduction in emissions that the world needs, it did see the establishment of funding arrangements for loss and damage.”
Ahunna told participants about a new partnership between the Global Environment Facility, the United Nations Development Programme, the African Development Bank, and the Rocky Mountain Institute. Together they will support new solar battery mini-grid markets in 21 countries in Africa.
Deputy Executive Secretary of the United Nations Economic Commission for Africa, Dr. Hanan Morsy observed that the theme of this year’s conference provides the opportunities to digest and synthesize the discussions at COP 27 and propose recommendations for supporting climate-smart development in Africa.
“Africa needs to close huge development gaps by investing substantially in key sectors such as energy, agriculture, transport, water, and cities, among others. These sectors are all very vulnerable to the adverse impacts of climate change,” Morsy said.