By Amechi Ogbonna
THE World Bank Group yesterday unveiled a new plan that calls for $16 billion in funding to help African countries adapt to climate change and build up the continent’s resilience to climate shocks.
The project titled, Accelerating Climate-Resilient and Low-Carbon Development, the Africa Climate Business Plan, will be presented at COP21, the global climate forum in Paris, on November 30. It lays out measures to boost the resilience of the continent’s assets including – its people, land, water and cities – as well as other measures that will boost renewable energy and strengthen early warning systems. According to the World Bank President, Jim Yong Kim, “sub-Saharan Africa is highly vulnerable to climate shocks, and our research shows that could have far-ranging impact – on everything from child stunting and malaria to food price increases and droughts.
This plan identifies concrete steps that African governments can take to ensure that their countries will not lose hard-won gains in economic growth and poverty reduction, and they can offer some protection from climate change.” Per current estimates, the plan says the region requires $5-10 billion per year to adapt to global warming of 2°C just as the WBG and the United Nations Environment Programme estimate that the cost of managing climate resilience will continue to rise to $20-50 billion by mid-century, and closer to $100 billion in the event of a 4°C warming.
Source : SunOnline