Geingob makes case for climate financing
‘Africa bears brunt of climate change’
Developed nations should provide at least US$100 billion a year from 2025 for climate financing, Geingob said.
President Hage Geingob has urged first world nations to direct their efforts towards funding green energy projects to heed the outcomes of the 2015 Paris Agreement.
The agreement set out a global framework to curtail the worst effects of climate change by limiting global warming to well below 2°C, while pursuing efforts to limit it to 1.5°C.
Making a call for more financing, Geingob said Africa was bearing the brunt of climate change.
“Africa emits less carbon dioxide into the atmosphere but is regrettably disproportionately affected by climate change and the long-term shifts in temperatures and weather patterns. As a consequence, Namibia, for example, has experienced severe droughts in the past five years, of which one was recorded to have been the worst in a century,” he said.
Developed nations, the head of state said, should provide at least US$100 billion a year from 2025.
“We are urging for the scaling up of the levels of climate finance by providing concrete long term-targets for climate finance pathways and accounting methodologies for the collective goal by developed countries to reach US$100 billion a year from 2025 and beyond,” he said on the sidelines of the US-Africa Summit currently underway in Washington DC.
Fund poor countries
According to Geingob, proceeds from the global carbon market system set up under the Paris Agreement should go to the Adaptation Fund to finance projects and programmes in developing countries.
This will “support the acceleration of climate technology transfer - through creating access to information and knowledge on climate technologies - and will foster collaboration among climate technology stakeholders,” he said.
Africa has yet to claim its stake to become a key player in the global energy market, he added.
“Africa has the potential to become a key player in the global energy market, and we should seize the opportunity by doing the right things at the right time. Yes, the time is right to do the right things. With the right kind of collaborations and partnerships, the time has come to ensure that no one is left behind in our ambition of energy for all.”
Geingob is attending the summit at the invitation of American president Joe Biden.
The agreement set out a global framework to curtail the worst effects of climate change by limiting global warming to well below 2°C, while pursuing efforts to limit it to 1.5°C.
Making a call for more financing, Geingob said Africa was bearing the brunt of climate change.
“Africa emits less carbon dioxide into the atmosphere but is regrettably disproportionately affected by climate change and the long-term shifts in temperatures and weather patterns. As a consequence, Namibia, for example, has experienced severe droughts in the past five years, of which one was recorded to have been the worst in a century,” he said.
Developed nations, the head of state said, should provide at least US$100 billion a year from 2025.
“We are urging for the scaling up of the levels of climate finance by providing concrete long term-targets for climate finance pathways and accounting methodologies for the collective goal by developed countries to reach US$100 billion a year from 2025 and beyond,” he said on the sidelines of the US-Africa Summit currently underway in Washington DC.
Fund poor countries
According to Geingob, proceeds from the global carbon market system set up under the Paris Agreement should go to the Adaptation Fund to finance projects and programmes in developing countries.
This will “support the acceleration of climate technology transfer - through creating access to information and knowledge on climate technologies - and will foster collaboration among climate technology stakeholders,” he said.
Africa has yet to claim its stake to become a key player in the global energy market, he added.
“Africa has the potential to become a key player in the global energy market, and we should seize the opportunity by doing the right things at the right time. Yes, the time is right to do the right things. With the right kind of collaborations and partnerships, the time has come to ensure that no one is left behind in our ambition of energy for all.”
Geingob is attending the summit at the invitation of American president Joe Biden.
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