Africa Needs More Than $2.7 Trillion To Mitigate Climate Change

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Written by Staff

By Emmanuel Ntirenganya ~ From The New Times (climate change)

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, yesterday, 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 mobilise about $90 billion for adaptation programmes to global warming by 2020 (for worldwide use).

Under the Paris Agreement adopted at last year’s Climate Conference dubbed COP21, governments agreed a long-term goal of keeping the increase in global average temperature to well below 2°C above pre-industrial levels to reduce risks and the impacts of climate change.

Read more at The New Times