Africa’s Climate Change Roadmap
Despite contributing the least to global emissions, Africa finds itself acutely vulnerable to the economic and human costs of climate change. If Africa continues on its current climate trajectory, the World Bank has estimated that 43 million people in Sub-Saharan Africa will fall below the poverty line by 2030. Meanwhile there are concerns that temperatures in Northern and Southern Africa will rise by as much as 3.5C from pre-industrial levels by 2050, which would increase the risk of both of drought and extreme weather events.
With Covid-19 prompting a global recession, Africa faces the challenging twin tasks of forging a path to economic recovery and supporting sustainable growth. To meet these goals a just transition is needed with a focus on economic inclusion and poverty reduction. As developed nations tackle their own domestic crises and with global debt levels set to rise to $30 trillion by 2023, however, international support may not be forthcoming. In this discussion we will explore the tools and means available to Africa’s private and public leaders in fostering a low-carbon future and attracting the investments needed to meet the African Union’s Agenda 2063 goals.
Discussion points:
Which incentives need to be created to foster private and public sector commitments to sustainable growth?
With many African governments facing a severe fiscal squeeze, how might policies like carbon taxes and subsidy swaps be used to support recovery?
What role do international institutional investors have to play in supporting a just transition in Africa?
Should African countries focus on a more limited set of SDGs in the wake of Covid-19?
What role can green investments play in the Continent’s post-Covid recovery?
