climate change news Archives - AfricaBusiness.com

22Jun

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African News

ONE Campaign urges leaders to seize the opportunity presented by critical New Global Financial Pact Summit

As world leaders gather in Paris to discuss how to accelerate efforts to tackle climate change and poverty, activists from The ONE Campaign are urging them not to waste this critical opportunity. The Summit for a New Global Financial Pact, hosted by President Emmanuel Macron, aims to accelerate efforts to recover from the global COVID-19 pandemic and tackle some of the most pressing global issues, including climate change, loss of biodiversity, rising poverty and growing food insecurity. The whole world is affected by these issues but the poorest and most vulnerable countries are paying the highest prices for crises they did the least to cause. Meeting climate commitments is expected to cost African countries USD$2.8 trillion by 2030. This is in addition to the burden of spiralling debts...

Climate change and drought in Northern Kenya

Onyango Rachael Kenya is among the least contributors to greenhouse gas emissions worldwide but still bears the brunt of climate change. A third consecutive below-average rainfall is negatively affecting food availability and access for women, men, and children in 20 of the 23 arid and semi-arid land (ASAL) counties. According to the National Drought Management Authority’s (NDMA) October 2022 report, 4.35 million people are now in need of humanitarian assistance. 942,000 children aged 6-59 months are acutely malnourished and 134,000 cases of pregnant or lactating women are acutely malnourished and need treatment. How did we get here? As far back as November 2021, the Famine Early Warning System Network issued an alert on the imminent drought in the Horn of Africa, should the poor rainfal...

Leading financial firms call on governments to step up action on climate risk reporting, boost adaptation finance

UNEP’s Adaptation Gap 2020 report released last week found that with annual adaptation costs in developing countries alone estimated to reach $130-300 billion per year by 2030, public and private finance for climate change adaptation must be stepped up urgently. Financial institutions have the power to direct investment and project finance to help the world adapt to climate change but they need to first understand and measure the risks and opportunities for their businesses. Ten financial institutions convened by UNEP FI are calling on governments to encourage adaptation finance by making climate risk disclosures mandatory, ensuring the availability of robust data, and developing standards to guide the finance industry. The financial institutions are the European Bank for Reconstruct...