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United Nations General Assembly 2021: United Nations Secretary-General Antonio Guterres hails African Development Bank’s global leadership in climate change adaptation

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United Nations General Assembly 2021: United Nations Secretary-General Antonio Guterres hails African Development Bank’s global leadership in climate change adaptation

The African Development Bank set the bar in 2019 by allocating half of its climate finance to adaptation

ABIDJAN, Ivory Coast, September 24, 2021 / APO Group / –

Six weeks before this year’s World Climate Summit (COP26), the President of the African Development Bank (www.AfDB.org), Dr Akinwumi A. Adesina, spoke on Thursday of the urgent need to finance adaptation to the climate. He called on the developed world to keep its pledge of $ 100 billion a year for climate change.

The head of the African Development Bank commented a day after United Nations Secretary-General António Guterres gave his opening address to the United Nations General Assembly – a speech in which the UN chief spoke of a planet “sleepwalking towards disaster”.

Guterres has sounded the alarm for a world rocked by climate change, conflict and the global Covid-19 pandemic. He called for “coalitions of solidarity” to fight against inequalities, instability, climate change and what he called a global emergency of our time.

The UN Secretary General hailed the great progress of the African Development Bank. “The African Development Bank set the bar very high in 2019 by allocating half of its climate finance to adaptation. Some donor countries have followed their example. Everyone has to do it, ”Guterres said. “My message to every Member State is: don’t wait for others to take the first step. Do your part.

Adesina praised the message of the UN Secretary General and the recognition of the actions of the African Development Bank. He said action, not promises, in key areas of mitigation, finance and adaptation are essential.

“Measures to avoid the worst impacts of the climate catastrophe must start with developed countries which materialize their commitment of ‘new additional climate finance’ and predictable from a floor of 100 billion dollars per year. We need to strengthen Africa’s capacity to adapt to the climate, ”Adesina said.

In 2019, the African Development Bank invested $ 10.3 billion in development projects on the continent. Some $ 3.6 billion has gone to climate finance. This is a fourfold increase from 2016. In 2020, the Bank invested 63% of its climate finance in adaptation, exceeding the 50/50 parity for mitigation and adaptation to change. climate advocated by the United Nations.

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