Rich nations paying lip service to Africa on climate crisis for years

A decade later, this commitment is at risk of becoming an empty pledge, with developing countries facing ever-increasing challenges due to climate change.

The recent Africa Climate Summit held in Kenya's capital, Nairobi, saw leaders demanding the implementation of this funding during a panel discussion Dr Mo Ibrahim the Founder and Chair of the Mo Ibrahim Foundation stated: "Rich nations must honor their 100-billion-dollar commitment. It's not a mere promise; it's an obligation to support those most vulnerable to the devastating impact of climate change. Let this commitment be a testament to global solidarity, not a broken pledge."

New research from the Global Center on Adaptation released Friday shows that climate adaptation finance flowed to Africa must increase up to tenfold to over US$100 billion per year by 2035 to build resilience against the growing impact of climate change. Without such investment, it is estimated that the continent could lose out on as much as USD$6 trillion of economic benefits by 2035

Adaptation Gap Report 2022 paints a grim picture. It estimates that adaptation costs for developing countries, particularly in Africa, could range from USD 160 billion to USD 340 billion annually by 2030 and escalate to an alarming USD 315 billion to USD 565 billion by 2050.

A recent analysis by the Intergovernmental Panel on Climate Change (IPCC) echoes these concerns, projecting adaptation costs of USD 127 billion per year by 2030 and a staggering USD 295 billion by 2050 for developing countries.

These figures are staggering, especially when compared to the meager USD 49 billion that flowed into adaptation finance globally between 2019 and 2020, falling woefully short of the urgent need.

"Those who produce the garbage refuse to pay their bills," President William Ruto said.

The U.S. government's climate envoy, John Kerry, acknowledged the "acute, unfair debt." He also said 17 of the world's 20 countries most impacted by climate change are in Africa - while the world's 20 richest nations, including his own, produce 80 per cent of the world's carbon emissions that are driving climate change.

Asked about the Kenyan president's call for a carbon tax discussion, Kerry said President Joe Biden has "not yet embraced any particular carbon pricing mechanism."

National climate plans, known as Nationally Determined Contributions (NDCs), play a crucial role in shaping climate finance. As of October 2022, 144 out of 160 countries that submitted NDCs included adaptation components.

"Amidst the intensity of negotiations, emotions often drive ambitious pledges that sadly remain unfulfilled in their financial commitments," Roba revealed.

He explained that while there is growing global momentum to align investments with climate goals, the focus on adaptation often falls short, particularly in public and private sectors.

Data shows as of November 2022, more than 140 countries, including major emitters like China, the United States, India, and the European Union, have set net-zero targets. However, commitments for adaptation and resilience investments lag behind.

Mo Ibrahim argued that climate finance should be seen as a clear international agreement, emphasizing, "You break it, you own it." Mo stressed that without changing the dynamics of the market and making polluters pay for their emissions, behavior change will remain elusive.

African Group of Negotiator Expert Support (AGNES) 's George Wamukoya stated that the multilateral climate funds, such as the Green Climate Fund (GCF) and the Adaptation Fund, have made public adaptation commitments, but challenges remain in stakeholder access. The GCF, for instance, is mandated to invest 50 percent of its resources in adaptation, with a focus on vulnerable countries.

He explained that sub-regional Development Banks (SRDBs) in Africa have the potential to lead climate adaptation efforts. However, none of the four African SRDBs have made public commitments to fund adaptation-specific projects.

Wamukoya said a handful of donor countries, including Germany, France, and the UK, have shown leadership in financing adaptation in Africa. The UK government pledged to triple its funding on adaptation to GBP 1.5 billion by 2025, with a specific focus on the African continent.

As the world faces the undeniable urgency of climate change, the need for transparent and ambitious commitments to climate finance has never been greater.

Available data shows that Africa only received US$11.4 billion in adaptation finance in 2019-2020 and the increase in 2021-2022 is likely to be modest. At this rate, Africa will receive US$182 billion by 2035 for climate adaptation, less than one-tenth of the up to US$1.7 trillion by 2035 the new research estimates it needs.

Loans were the most utilized instrument to deliver adaptation finance in 2019-2020, which combined with surging interest rates, is contributing to Africa's poorest countries falling into a debt trap.

Commenting on the research findings, Professor Patrick Verkooijen, CEO of the Global Center on Adaptation said:
"The impact of climate change are being felt around the world, but nowhere more acutely than in Africa. Adaptation finance must be scaled up dramatically before it is outstripped by accelerating climate impact which would further widen the adaptation funding gap."

Experts indicate bridging the gap between promises and reality is essential for safeguarding our planet's future.

On loss and damage John Kerry stated, "We are working with partners on the transitional committee this year to design an effective fund to help vulnerable developing countries respond to loss and damage." He emphasized the collaborative efforts required to address the challenges posed by climate change.