12 °c
London
Monday, May 16, 2022
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Why African Development Bank joined forces on climate change

Staff by Staff
December 17, 2019
in Africa, Aid, Banking, Climate, Development, Economy, Environment, Report, Water
Reading Time: 3 mins read
814 8
0
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

According to aid estimates reported by Associated Press, one million people are affected by floods in East Africa after-higher-than normal rainfall.

The United Nations (UN) Climate Change Conference COP 25, has levitated the climate action landscape in Africa.

This has led to the African Development Bank (AfDB) to join forces with 11 other international organizations to assist developing countries to build resilience against the impact of natural disasters caused by extreme weather.

The initiative comes at a rather perfect moment, especially when the region is faced with unprecedented catastrophic weather events affecting the continent’s economy.

According to AfDB, the institutions came together at the COP 25 climate change conference in Madrid on Tuesday to launch the Alliance for Hydromet Development.

Alliance for Hydromet Development

According to the World Meteorological Organization (WMO), the Alliance for Hydromet (hydrological and climate services) Development brings together major international development, humanitarian and climate finance institutions, collectively committed to scale up and unite efforts to close the hydromet capacity gap by 2030. It aims to increase the effectiveness and sustainability of hydromet investments by forging a collaborative partnership that recognizes and leverages the respective competencies and expertise of its members.

Members commit to strengthening the capacity of National Meteorological and Hydrological Services for sustained operation of observational systems and data exchange that meet WMO standards for minimum monitoring coverage and reporting frequency.

In addition, they commit to better coordinate and design investments to best support developing countries, based on shared approaches and development outcomes. This includes fostering programmatic approaches that go beyond individual projects, as well as leveraging financial resources and expertise from the private sector to provide sustainable solutions and modernizing hydromet infrastructure in developing countries.

The founding members of the Alliance for Hydromet Development are the Adaptation Fund, the African Development Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, the Global Environment Facility, Green Climate Fund, the Islamic Development Bank, the United Nations Development Programme, the United Nations Environment Programme, the World Bank, the World Food Programme and the World Meteorological Organization.

The way forward

The United Nations acknowledges that Africa is seriously vulnerable to climate change and it is the least polluter, with only 4 per cent of greenhouse emissions per year, compared to China (26 per cent), European Union (9 per cent), and the United States (4 per cent).

The AfDB has been active in the climate action arena, with its feet dipped into climate finance to assist vulnerable countries communities to adapt and mitigate climate change impacts.

Petteri Taalas, Secretary-General of the World Meteorological Organization acknowledges the role of strategic climate action against climate change impacts.

“The science is clear: the global average temperature has increased by 1.1°C since the pre-industrial period, and by 0.2°C compared to 2011-2015. “Ambitious climate action requires countries to be equipped with the most reliable warning systems and best available climate information services. Many developing countries are facing capacity constraints to provide these services. The Alliance is the vehicle to collectively scale up our support to the most vulnerable,” he said.

Just in East Africa, one million people are affected by floods. Thus, the alliance stands to change that, as they have committed to ramping up action that strengthens the capacity of developing countries to deliver high-quality weather forecasts, early warning systems, hydrological and climate services. Also, they underpin resilient development by protecting lives, property and livelihoods.

Anthony Nyong, Director for Climate Change and Green Growth at the African Development Bank, acknowledges the current capacity gap existing in the continent in addressing the vulnerability, thus finance is also a factor.

“Through the Hydromet Alliance, we are committed to doubling our climate finance support to African countries and will work with them to transition from dealing with disaster emergencies to building resilience against the impacts of extreme weather events,” he commented.

It would take over $50 billion per year for Africa to suffice its climate adaptation measure under the two degrees centigrade scenario. However the financing landscape has been quite vital, a report by Climate Funds Update, an independent climate finance tracker, shows up to 4.5 billion has been approved for 665 projects and programs throughout Sub-Saharan Africa since 2003. Almost half of the approved funding from these multilateral climate funds has been provided for adaptation measure.

The initiative places Africa on a potential path to combat catastrophic weather impacts, and reduce macroeconomic and development consequences in Africa. United Nations Economic Commission Agency (UNECA) shows West and East Africa could lose 15 per cent of their GDP if no action is taken, while—implementing mitigation measures on the energy sector could provide 0.7 potential jobs by 2030 and increase to over 11 million by 2050.

Source: The Exchange

Related

Tags: Adaptation Fundafdbafricaafrican development bankAlliance for Hydromet DevelopmentAnthony NyongAPAsian Development BankAssociated PresschinaClimate Funds UpdateCOP 25East AfricaEUEuropean Bank for Reconstruction and DevelopmentEuropean UnionGDPGlobal Environment FacilityGreen Climate FundGross Domestic ProductHydromet AllianceIslamic Development BankMadridnational meteorological and hydrological servicesPetteri Taalassub-Saharan AfricaUNUNECAUnited NationsUnited Nations Climate Change Conference COP 25United Nations Development ProgrammeUnited Nations Economic Commission AgencyUnited Nations Environment ProgrammeUnited StatesUSWBWest AfricaWMOWorld BankWorld Food ProgrammeWorld Meteorological Organizationафрикаأفريقياアフリカ非洲
ScanSendShare329Tweet206Share58Pin74Send
Staff

Staff

Related Posts

Trade

Ghana to increase coffee production by 300% to ramp up exports

by FurtherAfrica
May 16, 2022
Mining

MRG applies for rare earth and uranium exploration in Mozambique

by Club of Mozambique
May 16, 2022
BP production in Angola is in decline since 2017
Energy

SOMOIL’s defies predictions and contributes to Angola’s oil growth

by Energy Capital & Power
May 16, 2022
The Forbes Billionaires’ list: Africa’s richest people 2022
Private Equity

LeapFrog and Tana co-invest in Interswitch

by Africa Global Funds
May 16, 2022
Economy

South Africa recovery efforts for sport and creative sectors

by FurtherAfrica
May 16, 2022
Great Limpopo Transfrontier Park
 
AFSIC 2022
 
MozParks

Translate this page

Read the Latest

Trade

Ghana to increase coffee production by 300% to ramp up exports

by FurtherAfrica
May 16, 2022
0

Ghana plans to increase its coffee production by over 300% in order to ramp up the export of the commodity....

Read more

MRG applies for rare earth and uranium exploration in Mozambique

May 16, 2022
BP production in Angola is in decline since 2017

SOMOIL’s defies predictions and contributes to Angola’s oil growth

May 16, 2022
The Forbes Billionaires’ list: Africa’s richest people 2022

LeapFrog and Tana co-invest in Interswitch

May 16, 2022

South Africa recovery efforts for sport and creative sectors

May 16, 2022

FurtherAfrica Partners

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
Digilogic Africa

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
 

Loading Comments...