Boost Africa investment to win climate fight

Experts from more than 170 nations are in the Kenyan capital this week for the UN Environment Assembly.

15 March 2019 | Economics

Africa contributes 4% of CO2 emissions globally but already more than 65% of the population there is impacted by climate change, by drought, by flooding, by storms. - Kristalina Georgieva, Chief: World Bank

Patrick Galey - Governments and business must help countries in Africa deal with the fallout of climate change, the head of the World Bank said Wednesday as her organisation pledged billions for green investment in the continent.

Kristalina Georgieva said it was vital that nations least responsible for global warming are assisted in adapting to the extreme weather and food insecurity their citizens face.

"Africa contributes 4% of CO2 emissions globally but already more than 65% of the population there is impacted by climate change, by drought, by flooding, by storms," she told AFP.

Speaking on the eve of the One Planet Summit in Nairobi, Georgieva said green development in Africa was an economic open goal for companies willing to invest in renewable energy, farming technology, and conservation.

"Especially in Africa we would like to see action on adaptation feature prominently," she said. "We are determined to demonstrate that climate action is also good for the economy and good for people."

World Bank boost

The World Bank Wednesday announced it was providing US$22.5 billion for sustainable development programmes in Africa between 2021-2025.

The UN estimates that by mid-century the continent will be home to more than 2.2 billion people.

This soaring population is likely to put further pressure on regions already susceptible to drought, and could overburden the creaking infrastructure of many of the continent's urban hubs.

A report from risk consultants Verisk Maplecroft last year said that two thirds of cities in Africa face "extreme risk" of climate change threats.

"If cities don't develop taking into account what climate will be 10, 20, 30, 40 years down the road it can be quite catastrophic for the populations," said Georgieva.

Experts from more than 170 nations are in the Kenyan capital this week for the UN Environment Assembly, which aims to push countries to commit to slashing consumption and waste.

Heavyweights

The One Planet Summit will see heads of state including French president Emmanuel Macron and Kenyan counterpart Uhuru Kenyatta lend political weight to proceedings.

A constant refrain in environment circles is how to get the private sector to buy in to greening the global economy.

Georgieva said governments could proliferate policies that make it easier for firms to invest in renewables, waste management and habitat protection - and reap economic rewards by doing so.

For example, across Africa - a continent not short of sun - solar makes up just 1.5% of energy production.

"We are just building defences against [climate change] and doing it by recognising the incredible value of our oceans, our forests, out land, and the species on which the harmony of our planet depends," she said.

"I see tremendous economic potential in that. Environmental consciousness is at the same time economic consciousness because if we ruin our ecosystems then there is a huge economic price to pay." – Nampa/AFP

Similar News

 

Millions unaccounted for at NDC, says AG

1 day - 20 March 2019 | Economics

The Namibia Development Corporation (NDC) has failed to submit documentary evidence to prove how it spent N$90.1 million between 2015 and 2017, the latest report...

Africa Briefs

1 day - 20 March 2019 | Economics

No end date for Eskom’s power cutsSouth Africa's public enterprises Minister Pravin Gordhan said yesterday he cannot say yet when rolling blackouts will end, as...

Authorities still can’t do own financials

2 days ago - 19 March 2019 | Economics

Despite being exempted from paying audit fees and to use this money to develop skills, the majority of local authorities still fail to draw up...

Ghana bets on rejuvenated railways for growth

2 days ago - 19 March 2019 | Economics

Stacey Knott - As Ghana's urban landscape gently slides by the train window, Shaibu Amoah swells with pride.The 37-year-old has been helping to renovate railway...

New Era pays millions in tax penalties

3 days ago - 18 March 2019 | Economics

The New Era Publication Corporation (NEPC) has attributed its insolvency to the debts it owes to the receiver of revenue, printing cost and escalation of...

Boost Africa investment to win climate fight

6 days ago - 15 March 2019 | Economics

Patrick Galey - Governments and business must help countries in Africa deal with the fallout of climate change, the head of the World Bank said...

Calle: ‘Nothing sinister about budget delay’

1 week ago - 14 March 2019 | Economics

Finance minister Calle Schlettwein told Market Watch this morning that the tabling of the 2019/20 national budget has been moved to 27 March purely for...

Overall inflation down, food rate up

1 week ago - 14 March 2019 | Economics

Annual overall inflation in February was 4.4%, down from 4.7% the previous month, according to the latest data released by the Namibia Statistics Agency (NSA)...

No SA bailout for Zimbabwe

1 week ago - 14 March 2019 | Economics

Fanuel Jongwe - South African President Cyril Ramaphosa concluded a much-anticipated visit to Zimbabwe on Tuesday, dashing any lingering hopes that his country would bail...

Brexit defeat leaves May's authority in tatters

1 week ago - 14 March 2019 | Economics

Alice Ritchie - British prime minister Theresa May staked everything on getting her Brexit deal, and its rejection on Tuesday has left her authority severely...

Latest News

Millions unaccounted for at NDC,...

1 day - 20 March 2019 | Economics

The Namibia Development Corporation (NDC) has failed to submit documentary evidence to prove how it spent N$90.1 million between 2015 and 2017, the latest report...

Aluta continua!

1 day - 20 March 2019 | Columns

Tomorrow is without doubt a significant day in our national history, as we pause to celebrate the spirit of our forefathers and struggle heroes and...

Africa Briefs

1 day - 20 March 2019 | Economics

No end date for Eskom’s power cutsSouth Africa's public enterprises Minister Pravin Gordhan said yesterday he cannot say yet when rolling blackouts will end, as...

Cob plundering suspects nabbed

1 day - 20 March 2019 | Crime

Leandrea Louw Two men arrested on Saturday for allegedly being in possession of 60 large cob made their first appearance in the Walvis Bay Magistrate’s...

Unfinished pipeline impacts 7 000...

1 day - 20 March 2019 | Infrastructure

About 6 932 people and 33 790 large and 18 395 small stock units are facing thirst, as the agriculture ministry battles to finish the...

Apple unveils new iPad, updates...

1 day - 20 March 2019 | Technology

Sonam RaiApple Inc, in a surprise move on Monday, launched a new 10.5-inch iPad Air and updated its iPad Mini ahead of a March 25...

Climate change and productivity

1 day - 20 March 2019 | Agriculture

Climate change is a long-term change in climatic/weather patterns of the earth or region. Such change is observed in temperature and rainfall patterns, amongst others....

Palladium hits record high

1 day - 20 March 2019 | Business

Palladium surged to a record yesterday as the risk of a ban on some Russian exports added to supply concerns for the autocatalyst metal. Spot...

State supports non-compliant security firms

1 day - 20 March 2019 | Business

Employers and trade unions agree that one of the major issues facing the Namibian security services industry is that some government institutions continue to appoint...

Load More