Five years after the COP in Marrakech, Africa will once again host the global climate meeting in 2022. While the promised funding is slow to be released, the continent wants to take a more active part in an energy transition, more and more. more at the heart of its development.
Egypt will host the 27th International Climate Conference (COP 27) in 2022. The country led by Abdel Fattah al-Sisi had nominated to host the event five years after Morocco.
In his speech on the occasion of the COP 26 which is currently taking place in Scotland, the Egyptian president indicated that the meeting of the COP 27 would be “a real African conference to progress in priority areas such as climate finance, adaptation and loss and damage ”. As with previous conferences, the challenge of this future meeting will be for Africa to take a new step in mobilizing the initial capital investment it needs to improve its response to climate change in the long term.
The first point would be to get developed economies to keep their promises made during the Paris Climate Agreement in 2015, to provide $ 100 billion per year to help cover the costs of adaptation and transition of developing countries. It will therefore be necessary to align the financial markets with the objectives of this agreement, in order to provide the important resources that Africa needs to allow its economies to adapt to global warming.
In a joint forum, Akinwumi Adesina, President of the AfDB, Ngozi Okonjo-Iweala, Director of the WTO, Vera Songwe Executive Secretary of the ECA and Ibrahim Assane Mayaki Executive Secretary of NEPAD said: “Any solution to climate change must address trade, the lifeblood of the global economy. The key to ending our current economic malaise is to ensure continued openness and predictability, including by committing to respect global trade rules aligned with the goals of the Paris Agreement ”. He added: “regional blocs such as the new African Continental Free Trade Area can provide an impetus to anchor our commitment to low-carbon development”.
According to Dr Yasmine Fouad, Minister of the Environment of Egypt, Africa is ready to continue “the efforts of the current British presidency of the conference, the significant progress made in the negotiation agenda, the initiatives announced and the renewal of commitments in favor of climate action at the highest level during the meeting of heads of state. This represents a boost on the way to an effective fight against the effects of climate change ”.
As a reminder, according to the UN, climate change costs the continent 7 to 15 billion dollars a year and threatens both food security and the use of hydropower. According to the Green Climate Fund, sub-Saharan Africa receives only 5% of total climate finance outside the OECD.