Against the backdrop of the United Nations Climate Change Conference (COP26), the African Development Bank (AfDB) has launched its Climate Change and Green Growth Framework.
The framework is made up of a strategic policy, a long-term strategy covering 2021–2030 and a five-year action plan for 2021–2025.
AfDB said the climate change and green growth framework will enable it prioritise interventions, inform and guide the alignment of its future operations with the ambitious goals of the Paris Agreement.
The devastating effects of climate change such as severe droughts, floods, reduced agricultural yields, sea-level rise and other climate-related disasters are on the rise in Africa.
Climate change has contributed to a jump in food insecurity, mosquito-borne disease and mass displacement in the past decade.
Also, the rise in sea levels has led to unusual weather patterns such as Tropical Cyclone Idai, which hit Mozambique, Malawi and Zimbabwe in 2019.
Africa has been warming progressively since the start of the last century, and in the next five years, according to the United Nations World Meteorological Organisation (WMO), northern and southern Africa are likely to get drier and hotter while the Sahara region gets wetter.
Children in the Central African Republic (CAR), Chad, Nigeria, Guinea, and Guinea Bissau are the most at risk of experiencing the worst and most life-threatening effects of climate change, a study by the United Nations Children’s Fund (UNICEF) found.
‘The strategic framework will enable the bank to strengthen our existing momentum on climate change action and also building on the ambitious goals that the bank has already established, including the goal of mobilising $25 billion…the goal of allocating at least 40 percent of our annual investment as climate finance’, Manager for Climate and Green Growth Division of the AfDB, Al Hamndou Dorsouma, said in a statement.
The Green Climate Fund (GCF) – a critical element of the historic Paris Agreement – recently approved 13 new projects for mitigation and adaptation action, with $677 million earmarked to finance seven climate change projects in Africa.
The Economic Community of West African States (ECOWAS) also launched its Regional Climate Strategy which it said will be finalised and validated by all institutional stakeholders in the first half of 2022.
The AfDB Climate Change and Green Growth Framework is expected to complement ongoing climate action and funding in Africa.
Photo source: Lirneasia