Wednesday, September 22, 2010

Environment as the foundation via the African Development Bank: "Climate Change permeates all discussions on development and how we address the challenges of finance is an important issue," AfDB Vice President and Chief Operating Officer, Nkosana Moyo, said while opening a two-day Roundtable on African Perspectives on the Issues before the UN High Level Advisory Group on Climate change financing in Tunis on Tuesday 21 September 2010. Mr. Moyo was speaking on behalf of President Donald Kaberuka who is a member of the UN High Level Advisory Group, but is currently attending the Heads of States Summit on the Millennium Development Goals (MDGs) in New York.

Noting that the environment was a global public good, Mr. Moyo said finance to support investments, technology development and transfer as well as capacity building for both mitigation and adaptation was crucial if Africa was to adequately adapt to climate change impacts and take actions to grow a low carbon intensive economy in line with its sustainable development imperatives in a cost-effective manner. "For most of the countries in Africa, the overwhelming aspect of the challenges posed by climate change will be how to deal with its adverse impacts through adaptation. These impacts, which are already becoming visible are affecting major parts of the economy in these counties...already pushing back efforts at development and meeting the MDGs," he explained.

"While the emissions in Africa are only a small fraction of global emissions, the continent can further contribute to lowering the negative global effects of climate change by charting a low carbon intensive development pathway," he said. He however observed that low carbon intensive options were more expensive, noting, however, that "they offer opportunities for Africa to sustainably develop its abundant hydro, solar, wind and forest resources to promote access to cleaner energy"…

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