africa’s access to convention funds high level side event cop18, doha, qatar 03 december, 2012...
TRANSCRIPT
Africa’s Access to Africa’s Access to Convention FundsConvention Funds
High Level Side EventCOP18, Doha, Qatar
03 December, 2012
African Development Bank
Key MessagesKey Messages
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Financial resources required to combat climate change and grow greener economies in Africa are considerable.
Despite recent improvements, Africa’s climate finance disbursement is not commensurate to its needs.
Dedicated climate funds remain relatively small in global terms, particularly Funds under the Convention, but place more emphasis on Africa.
The current paradigm of climate finance may sometimes fail to match Africa’s needs and has implications for the design of the GCF.
The African Development Bank is committed to increasing Africa’s access to climate finance.
Climate Damages as % of Climate Damages as % of GDPGDP
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Africa’s Exposure to Africa’s Exposure to “Runaway” Climate Change“Runaway” Climate Change
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The Global Finance The Global Finance LandscapeLandscape
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Source: Climate Policy Initiative, 2011
Mitigation FinanceMitigation Finance
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Adaptation FinanceAdaptation Finance
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Africa’s Climate Finance Africa’s Climate Finance FlowsFlows
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Africa currently receives far less climate finance than it requires
Source: CPI (2011), UNEP RISOE database and Vivid Economics/AfDB (2011) and (forthcoming)
12% of Disbursements for Africa in 4 years (Till 2010)
Financial CommitmentsFinancial Commitments
Africa & GEF Adaptation Africa & GEF Adaptation FundsFunds
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Source: Climate Funds Update
Africa and the Adaptation Africa and the Adaptation FundFund
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Region Disbursement
Asia and Pacific 49.5
Europe and Central Asia 8.25
Latin America and the Caribbean
47.02
Middle East and North Africa 19.42
Sub-Saharan Africa 42.17
Source: Adaptation Fund
Africa’s Absorptive Africa’s Absorptive CapacityCapacity
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Africa’s Adaptive Africa’s Adaptive CapacityCapacity
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The Green Climate Fund could represent a watershed in the flow of climate finance to Africa, if it address the following concerns:◦Scaled-up to meet Africa’s needs;◦Respects country-ownership;◦Supports Direct Access by African countries;◦Recognizes the ‘urgent need’ in African
states for adaptation, and builds adaptive capacities;
◦Encourages direct access in what may become ‘the main global fund for climate change finance
The Green Climate FundThe Green Climate Fund14
For information on how the For information on how the African Development Bank is African Development Bank is
providing solutions for providing solutions for Changing Climate in Africa, Changing Climate in Africa,
please visitplease visitwww.afdb.org
Thank you.Thank you.
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