Africa deserves the highest priority attention at the upcoming twenty-seventh United Nations’ climate conference – the Conference of the Parties 27 (COP 27), to be held in Egypt, in November – panel members said in a discussion of the African Development Bank’s (AfDB’s) 'African Economic Outlook 2022' report during an event hosted by the Atlantic Council on July 27.
A team from the AfDB, led by acting chief economist and VP Kevin Urama, is in Washington DC, in the US, to present the 'African Economic Outlook 2022' – a flagship publication of the bank – to international thought leaders and other targeted bodies.
Under the theme, “Supporting Climate Resilience and a Just Energy Transition in Africa”, this year’s report highlights climate change as a growing threat to lives and livelihoods in Africa.
The 'African Economic Outlook 2022' report provides evidence-based policy options for driving inclusive growth by building climate resilience and a just energy transition in Africa.
In a video message during one of the sessions, Bezos Earth Fund president and CEO Andrew Steer urged African and world leaders to think bolder and work more creatively together as they prepare for COP 27.
Steer, a former World Bank climate change special envoy, believes COP 27 gives the world an “incredible opportunity to think big about Africa”. He says COP 27 needs to centre around Africa, and that this is what the AfBD and the Atlantic Council are trying to do.
Steer says the 'African Economic Outlook 2022' is an “excellent report”, which lays out “beautifully” that it is a sobering time for Africa in particular, as well as the whole world.
“[Global economies] are slowing, [and there is a] perfect storm of rising food prices and energy prices, [rising] interest rates, and shocking increases in the impact of climate change and green vulnerability at a time that international resources are not what they need to be.”
In a presentation on the report, Urama called for policy coordination and a more holistic approach to tackling climate change. “We have been losing 5% to 15% of gross domestic product per capita growth in Africa because of climate change and that is in addition to other issues that climate change is driving on the continent.”
He adds that, as parties prepare for COP 27, honouring the 2009 commitment towards $100-billion a year in climate finance investment, promised by high-income countries to developing countries, will help to restore confidence that the international community is serious about climate change, even though Urama says this is not enough.
US Agency for International Development deputy assistant administrator for Africa Tyler Beckelman said the African Economic Outlook “cogently and convincingly” captures the very real and urgent challenges to realising a just energy transition in Africa.
“Make no mistake, the crisis is already here. Four failed rainy seasons in the Horn of Africa - with a fifth likely to occur this summer is a direct result of a warming climate, and sadly, it may become the norm,” he warned.
Beckelman said the US would ensure that its African partners have the ability and resources to develop the foundation for a sustainable and low-carbon economy that provides ample energy for growth.
He added that, while the challenges are enormous, there are “plenty” of reasons to be optimistic. “Sustained investments in adaptation and mitigation, through renewable energy and climate-smart land use practices, will help provide a pathway for African countries to develop innovative ways, building a more just and equitable future for people across the continent.”