What We Want at Africa’s Conference of the Parties (COP)

  • Date: 03-Nov-2022
  • Source: Zawya
  • Sector:Oil & Gas
  • Country:Egypt
  • Who else needs to know?

What We Want at Africa’s Conference of the Parties (COP)

Every COP cannot be a talk shop. COP27 in Egypt must move from talking to concrete and ambitious action. The time left to limit global temperature rise to 1.5°C is disappearing fast. Without real action, climate impacts - like the floods in Pakistan and KwaZulu Natal, in South Africa - will only intensify.

But, climate impacts will not be felt equally. The African continent is disproportionately affected, warming faster than other regions, and in some areas, at double the global rate.

The way forward starts with 3 critical steps at COP

We need fair finance for People and Planet: Public Finance Institutions (PFIs), particularly those in Southern Africa, must commit to more ambitious policies related to climate change, power generation, and transparency&accountability. PFIs like the African Development Bank must prioritise the development of fossil fuel finance exclusion policies, that states banks will not fund, provide financial services, or capacity support to any coal, gas, and oil project on the African continent. Any climate finance deals or partnerships established at COP27 and directed toward Africa must be based on principles of equity, justice, and transparency, support the interest and livelihoods of African people, and serve both social and environmental objectives.

Boost climate finance for forest