Climate Change
Shaban Mwinji (a community scout Ranger) in Ukunda Kenya. Mikoko Pamoja standing in a restored Mangrove Forest. Mikoko Pamoja, a community-led mangrove conservation project in southern Kenya, is the first blue carbon project in the world. It is designed to provide long-term incentives through community involvement for mangrove preservation and restoration.
– Africa’s unique natural capital assets were the center of conversation at the 2022 Africa Green Economy Conference. Held in a hybrid format from June 27 to 30, participants gathered to discuss the value of nature in Africa’s economy and call for more nature-positive ventures in development.
Hosted by Green Growth Knowledge PartnershipGGKP), Capitals CoalitionGreen Economy Coalition (GEC), and World Wide Fund for Nature (WWFThe conference featured virtual opening plenary sessions and closing plenary session, and in-person national conversations about the continent. These sessions were held in South Africa, Gabon and Mozambique.
Participants highlighted that the conference came at an exceptional moment in the face several global economic shocks affecting Africa, including climate change, biodiversity loss and geopolitical challenges.
Moderator Kevin Urama, Acting Chief Economicsist and Vice President for Economic Governance and Knowledge Management, African Development Bank, addresses the 2022 Africa Green Economy Conference. Credit: Juliet Morrison/IPS
“The failure of the current system’s existing global cooperation mechanism to meet these challenges equitably and sustainably is leading to the current calls for the review of the global system,” moderator Kevin Urama, Acting Chief Economic Economist and Vice President, Economic Governance and Knowledge Management, African Development Bank, said.
Most countries are falling short of the climate actionTo meet their 2015 Paris Agreement emission reduction targets. Climate finance to help developing countries meet targetsIt is also slow.
Oliver Greenfield, Convenor, Green Economy Coalition, argued that the limited progress on environmental action resulted from policymakers’ continual emphasis on economic gains above all else.
“We accept that development is the priority and environment is the trade-off. That’s largely what’s happened for 50 years […] Avoidance of crisis is not the best investment model for most finance ministers, we know that,” he said.
Greenfield suggested policymakers consider investments that contribute to the best outcome in multiple areas—environmental, social, and economic.
Dr Mao Amis, co-founder and executive director of the African Center for Green Economy, stated that Africa would benefit from a balanced economy and environment.
He said that most African countries have similar laws. natural capital accounts for 30-50 percentTheir total wealth. Over 70% of Sub-Saharan Africa’s population rely on forests and woodlands to provide their livelihoods.
“The value of nature in the economy is undisputed. We are so intricately linked to nature that we cannot disassociate our relationship with nature, and the more we recognize that, the more we can make strides in achieving the role of nature in the economy,” he said.
Tapping into nature—and pursuing nature-positive investments—is seen as an avenue for wealth creationPolicymakers.
Ligia Noronha is UN Assistant Secretary General and Head of UNEP New York Office. She views nature-positive investments both as a risk mitigation tool and a key investment strategy.
“This is absolutely obvious, but it has perhaps not been invested in sufficiently. Africa has a tremendous amount of natural capital stocks both in minerals and biodiversity, and this can be a tremendous asset for the growth of Africa,” she said.
She added that natural capital could also create many green jobs for Africa’s population.
Multi-stakeholder engagement, however, is needed to center nature’s place in national economic development.
Dr Gabi Teren (Programm Manager, Endangered Wildlife Trust) highlighted the need for greater communication and skills across all sectors to achieve environmental targets.
“Ultimately, without the companies being involved at all levels, there aren’t enough experts necessarily to have the skills to apply these tools. […]We need to improve communication between the private and public sectors in order to create a truly green economy. [small medium enterprises], between environmental practitioners, and between policymakers,” she said.
It is vital that the finance sector participates in this effort.
According to a presentation from the World Resources Institute in Johannesburg, accessing financing and the limited participation by the private sectors are the two biggest obstacles to implementing nature-based strategies (NBS) for Africa.
Nature-based solutions are initiatives that involve nature and solve social problems while building natural ecosystems and biodiversity. For example, conserving mangrove forestsProtect homes from storm-related damage and provide nurseries for fish.
NBS can be used to fulfill critical infrastructure requirements. Lizzie MarstersWorld Resources Institute, Environmental Finance Manager. According to her, NBS can meet 12 percent of Africa’s 90 trillion US dollar infrastructure needs by 2035.
Marsters identified NBS as crucial to incorporating sustainability & resilience into infrastructure investment.
“When we think about NBS, we think that there’s tremendous opportunity here to re-evaluate how we think about public budgets, how they are spent, and increased private sector participation,” Marsters said.
Closing the conference, moderator Kevin Urama emphasized Africa’s integral relationship with nature.
“Africa can and should take the lead on this … Africa’s culture has always been nature sensitive,” he said.
He said that natural capital should be integrated into all development planning.
“Let’s work on natural capital, how to invest in natural capital, how to value natural capital and factor it into our decision making, into our national development planning,” he said.
IPS UN Bureau Report
Source: ipsnews
