Flooding, droughts, landslides, and cyclones are becoming intense and more frequent. Adaptation offers an alternative solution in addressing these climate change impacts affecting communities, and economies, especially those with limited coping mechanisms and capacity.
33 out of 47 countries listed with the United Nations list of least developed countries are in Africa. The continent is the most vulnerable to climate change despite being the least emitter contributing about four percent of global carbon emissions. Most of Africa’s economy depends on climate-sensitive sectors such as Natural resources, agriculture, coastal infrastructure, energy, and water.
The African Development Bank Group’s (AfDB) Climate Adaptation and Green Growth manager Al Hamdou Dorsouma, says Adaptation is a priority for the continent.
“Between 2020-2030 Africa will lose between USD70-15 billion annually due to the devastating effects of climate change. But, if we do not act, this cost will rise to USD45-30 billion per year by 2040.”
Gareth Phillips, AfDB’s Climate and Environment Manager who explains about the Adaptation Benefits Mechanism (ABM), says resilience is essential, and the continent will not achieve the Paris agreement targets if it does not address resilience.
“The governments and consumers in developed world need to recognise that they have to contribute towards the cost associated with adapting to the impacts that are caused by the greenhouse gases released by the goods and services we buy.”
ABM aims at mobilising new and additional public and private sector finance for enhanced climate change adaptation action
This Episode is part of a five-part green economy series made possible by a collaboration between the Africa Climate Conversations and the continent’s premier development finance institution – the African Development Bank Group, particularly its climate change and green growth department.