Africa seeks funding to tackle climate change
Representatives of 24 African countries are calling on developed countries to meet their financial commitments to help the continent adapt to climate change ahead of the UN World Climate Conference (COP27) scheduled to take place in Egypt in November
The three-day meeting hosted by Egypt in the “new capital” that emerges from the sands 50km from Cairo took place after a summit on Monday in the Netherlands, aimed at supporting Africa in the face of climate change.
The chairman of the African Union (AU) and president of Senegal, Macky Sall, noted: “with bitterness, the absence of leaders of industrialized countries” in Rotterdam was setting a bad example to the world.
Between 2002 and 2020 just 14% of all the carbon credits issued came from Africa.
In 2021, Gabon became the first African country to receive payments from the Central African Forest Initiative for reducing carbon emissions through forest protection, a total of $17 million so far.
Africa is looking to push for better and standardized prices on carbon during the upcoming United Nations conference of parties, known as COP27, scheduled for Sharm El Sheikh in Egypt in November.