Foreign

UNEP says Africa must ratchet up climate adaptation financing to sustain growth

Published

on

African countries should increase budgetary allocation towards climate change adaptation in order to hasten green and inclusive growth while protecting vulnerable communities from shocks, a senior UN Environment Program (UNEP) said on Monday.

Richard Munang, Climate Change Coordinator, UNEP Africa Office said that bridging the adaptation financing gap in the continent will unleash economic benefits and strengthen the resilience of communities.

“Investing in adaptation is a sound economic decision and must become an added tool in every country’s economic arsenals,” Munang said in an opinion (Op-Ed) issued in Nairobi.

Munang said that UNEP’s Adaptation Gap Report that was launched on Jan. 14 emphasized that Africa’s capacity to attain carbon neutrality lies in robust financing towards adaptation measures that prioritize a shift to clean energy and restoration of vital ecosystems.

According to the report, Africa requires 7 to 15 billion United States dollars annually to enhance adaptation to climate change besides nearly 3 trillion dollars investment that is required to implement nationally determined contributions (NDCs) and cap emissions in line with the Paris climate deal.

“The findings of this Adaptation Gap report send an unequivocal message of the urgent need to ratchet up adaptation actions which must align with accelerating socioeconomic growth to build resilience of populations in Africa,” said Munang.

He said that a fusion of public and private sector investments should be prioritized in order to bridge funding shortfalls towards climate change adaptation in Africa.

Munang said that African countries should roll out a range of fiscal and policy incentives to hasten green recovery while lowering carbon emissions.

He proposed investments in nature-based solutions to enhance adaptation adding that home-grown innovations like the adoption of solar dryers by farmers will reduce post-harvest losses, boost food security and climate resilience.

Munang said that governments should encourage micro-lenders to provide capital to youth-owned green start-ups to strengthen their participation in climate adaptation.

(XINHUA)

NNN

NNN: :is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

Coronavirus – Ethiopia: COVID-19 update (March 2, 2021) Coronavirus – Eritrea: Ministry of Health announcement (March 2, 2021) Coronavirus – Malawi: COVID-19 update (March 2, 2021) Nigeria: children traumatized by kidnapping need urgent rehabilitation, say UN experts Coronavirus – Nigeria: COVID-19 update (March 2, 2021) Coronavirus – Zambia: COVID-19 update (March 2, 2021) Coronavirus – Eswatini: COVID-19 update (March 2, 2021) Team Europe partners with Equity Bank to support Kenyan businesses and agriculture amid COVID-19 West African ministers of health in the joint fight against Ebola The Union of OIC News Agencies (UNA) and SID through THIQAH (IDB Group Business Forum) sign MoC to strengthen cooperation in the field of media New Innovations Help SAP Africa Code Week Inspire the Next Generation of African Coders Royal Academy of Engineering Reports Impact on Sustainable Development in Sub-Saharan Africa ahead of World Engineering Day Confederation of African Football (CAF) presidential candidates unite behind Motsepe NBA All-Stars Luka Dončić and Chris Paul to star in 2021 Taco Bell® Skills Challenge Former champions Devin Booker and Stephen Curry lead six NBA All-Stars in 2021 MTN Dew® 3-point contest Anfernee Simons, Cassius Stanley and Obi Toppin to take flight in 2021 AT&T Slam Dunk Next Generation Regional Collaboration Platform meeting kicks off for the first time with United Nations regional entities in Africa One printer for fast, high-definition CAD and poster production – the new Canon imagePROGRAF TX series Facebook launches ‘LeadHERs: Life Lessons From African Women’ – a book highlighting women leaders from across Africa World Rugby has made the difficult decision to recommend the postponement of the 2021 Rugby World Cup, which is due to take place in New Zealand from September 18 to October 16, until next year. Coronavirus – Rwanda: COVID-19 update (March 2, 2021) The Qhubeka ASSOS team excites by igniting the Samyn Club Swan offers an alternative solution to buy crypto in Africa WFP calls for solution to fuel shortages in Yemen threatening to worsen widespread food insecurity Health center rehabilitated, mobile clinics deployed to support the refugee crisis in eastern Sudan Coronavirus – Eritrea: Ministry of Health announcement (March 1, 2021) Statement by UNICEF Nigeria Representative Peter Hawkins on the release of abducted schoolgirls in Jangebe, Zamfara State, Nigeria UNHCR to relocate thousands of Central African refugees to safer places Rising violence in Nigeria drives displacement to Niger Coronavirus – Uganda: COVID-19 update (March 1, 2021) Coronavirus – Sierra Leone: Chinese Ambassador Hu Zhangliang presents COVID-19 vaccines to President of Sierra Leone Julius Maada Bio USAID deploys disaster response team to respond to humanitarian needs in Tigray, Ethiopia Coronavirus – Malawi: COVID-19 update (March 1, 2021) WFP and UNHCR appeal for funding for more than 3 million refugees hit by ration cuts in East Africa Coronavirus – Ethiopia: COVID-19 update (March 1, 2021) Coronavirus – Zambia: COVID-19 update (March 1, 2021) Coronavirus – Eswatini: COVID-19 update (March 1, 2021) Coronavirus – Kenya: COVID-19 update (March 1, 2021) Coronavirus – Nigeria: COVID-19 update (March 1, 2021) Coronavirus – Rwanda: COVID-19 update (March 1, 2021) Digitization Offers High Returns to Emerging Gas Producers Like Mozambique (by Grace Goodrich) Kwik Delivery Expands Delivery Service to 4-Wheel Vehicles and Becomes Nigeria’s First Full-Stack Last Mile Delivery Platform Haven Homes champions affordable luxury properties in Nigeria – MD Tayo Sonuga Canon’s “ African Frontiers of Innovation ” series in Central and North Africa explores the sounds of the future Urgent aid needed to tackle humanitarian crisis in Yemen, says FAO Director-General Yemen: IOM seeks funding to help five million people as situation in Ma’rib deteriorates UNHCR calls for urgent access to asylum seekers detained in Tanzania US $ 64 million to fight HIV, tuberculosis and malaria in Congo Coronavirus – Malawi: COVID-19 update (February 28, 2021) Coronavirus – Ethiopia: COVID-19 update (February 28, 2021)