African Economic Conference kicks off strong call for adaptation action to tackle Africa’s “threat of climate change” | African Development Bank

The 2022 African Economic Conference (AEC) opened today in the island nation of Mauritius with a strong call for Africa to adopt smart technologies to address what speakers described as “the imminent climate change threat” facing the continent.

“Supporting climate-smart development in Africa is extremely relevant. Climate change is an imminent threat to Africa. The continent is the most vulnerable region to climate disasters,” said Prime Minister Pravind Kumar Jugnauth of Mauritius at the opening of the conference.

Prime Minister Jugnauth stressed how the rise in petroleum prices due to Russia’s war in Ukraine should boost Africa’s motivation to move away from fossil fuels and become self-sufficient in electricity production. “To more effectively face the challenges of climate change, Africa needs the support and assistance of development partners,” he added.

The largest pan-African economic meeting will be held under the theme of ‘Supporting Climate Smart Development in Africa’. It brings together different stakeholders – policymakers, climate experts, the private sector, researchers and youth – to discuss and develop an action plan to support Africa’s low-carbon and climate-resilient development.

In a speech delivered by Acting Chief Economist and Vice President, Prof. Kevin Urama, the President of the African Development Bank, Dr. Akinwumi Adesina, underlined Africa’s urgency to adapt to climate change.

“Africa is suffering from the devastating effects of climate change, from droughts, floods, irregular rainfall, locusts and army worms,” he said. “Supporting climate-smart, eco-friendly development is a step in the right direction,” he said.

Estimates show that Africa suffers $7-15 billion a year in GDP losses from climate change, which are expected to rise to $45-50 billion a year by 2040.

During COP27, the African Development Bank and its partners launched the Alliance for Green Infrastructure in Africa to accelerate the development of green infrastructure in Africa.

In her remarks, Ahunna Eziakonwa, Deputy Administrator and Director of the Regional Office for Africa at the United Nations Development Programme, stressed that Africa’s path to achieving the Sustainable Development Goals must be climate-smart.

“In 2022, we have seen a climate emergency strike with increasing intensity. At the same time, climate change-induced drought is causing hunger and even famine in regions such as the Horn of Africa,” she added. “Protecting the planet cannot be an option, it is an urgent priority.”

Speaking about the recently concluded United Nations Climate Change Conference, COP 27, she said: “While Egypt’s COP27 did not achieve the drastic reductions in emissions the world needs, it did see the establishment of loss and damage financing schemes.”

Ahunna told participants about a new partnership between the Global Environment Facility, the United Nations Development Programme, the African Development Bank and the Rocky Mountain Institute. Together, they will support new mini-grid solar battery markets in 21 countries in Africa.

Deputy Executive Secretary of the United Nations Economic Commission for Africa, Dr Hanan Morsy, noted that the theme of this year’s conference provides an opportunity to digest and summarize the discussions at COP 27 and suggest recommendations to support climate-smart development in Africa.

“Africa must close huge development gaps by investing substantially in energy, agriculture, transport, water and cities, among other things. These sectors are all very vulnerable to the adverse effects of climate change,” said Morsy.

ECA is working with partners to support the development of just energy transition plans in many African countries, leveraging the continent’s abundant clean energy resources. It is also working with the African Export-Import Bank, the Africa Finance Cooperation, the African Development Bank and other partners to leverage the African Continental Free Trade Area to harness Africa’s abundant clean energy resources to transform the continent’s minerals .

The idea is to “support regional and global value chains associated with the global pursuit of net zero emissions,” Morsy said.

The African Economic Conference is jointly organized by the African Development Bank, the Economic Commission for Africa and the United Nations Development Programme.