As COP29 begins in Baku, Greenpeace Africa urges world leaders to provide significant climate finance to African countries suffering from the climate crisis. The organization insists on implementing a Climate Damages Tax on the fossil fuel industry to support loss and damage reparations, as African nations contribute minimally to global emissions yet endure the greatest impacts. Active initiatives are essential to facilitate a just transition towards renewable energy, which offers numerous economic opportunities.
As COP29 convenes in Baku, Azerbaijan, Greenpeace Africa emphasizes the urgent need for world leaders to commit substantial climate financing to African countries severely impacted by the climate crisis. Notably, the financial assistance for developing nations is starkly overshadowed by the profits and subsidies enjoyed by the fossil fuel industry. African communities, which contribute minimally to global emissions yet experience the harshest effects, are advocating for the immediate establishment of a Climate Damages Tax on polluters to facilitate loss and damage reparations. Murtala Touray, Program Director at Greenpeace Africa, highlights that Africa stands at a pivotal juncture requiring the implementation of an ambitious New Collective Quantified Goal (NCQG). This goal is essential for increasing climate finance to developing nations, particularly in addressing the extensive climate challenges which include devastating droughts in the Horn of Africa and catastrophic flooding in Western and Southern Africa. He warns that without adequate scaled-up climate finance, many African countries will struggle to fulfill their Nationally Determined Contributions (NDCs). The data illustrates that African economies may incur losses of up to 15% of GDP by 2030 due to climate change, notwithstanding that the continent possesses 40% of the world’s solar power potential and currently attracts just 2% of global renewable energy investments. Given that renewable energy projects yield significantly more jobs compared to fossil fuel projects, it is imperative that investments pivot towards sustainable energy solutions. Fred Njehu, Pan African Political Strategist at Greenpeace Africa, stated the need for African nations to harness their significant potential to spearhead the global shift towards renewable energy. He asserts that this potential is hampered by ongoing fossil fuel exploitation and insufficient climate financing. Njehu emphasizes that COP29 must yield definitive commitments aligned with the 1.5°C target, specifically regarding a new quantified financial goal. Greenpeace Africa has laid out specific demands for COP29, including: – The introduction of a Climate Damages Tax on fossil fuel corporations to finance loss and damage reparations. – A considerable increase in public climate finance via the NCQG, prioritizing African nations’ adaptation and mitigation requirements. – Concrete agreements to transition swiftly and justly from fossil fuels. – Robust protections against misleading solutions such as carbon offsets that jeopardize Africa’s carbon-rich ecosystems. – Acknowledgment and empowerment of African voices, especially youth activists, indigenous communities, and civil organizations, in addressing the climate crisis.
The call for heightened climate finance at COP29 arises from the pressing environmental and economic challenges facing African nations due to climate change. Despite being among the least contributors to global emissions, African countries endure some of the most severe consequences of climate-related events, such as droughts and flooding. This disparity has prompted advocates to argue for richer nations and fossil fuel corporations to assume greater responsibility through financial mechanisms, notably a Climate Damages Tax, which would provide essential funding for climate adaptation and mitigation actions in Africa. This context emphasizes the necessity of revisiting the commitments made under international climate agreements and ensuring that they translate into actionable finance for the communities most affected.
In summary, the current discourse at COP29 underscores the imperative for robust climate finance directed towards African nations grappling with the effects of climate change. With mounting evidence demonstrating the economic repercussions of climate neglect, it becomes crucial for affluent countries and polluting industries to fulfill their obligations. As articulated by Greenpeace Africa, the establishment of a Climate Damages Tax, increased public financing, and genuine commitments to renewable energy investments are vital for ensuring climate justice and enabling African nations to thrive in a sustainable future.
Original Source: www.greenpeace.org
