Stabinsky quoted on Africa's potential funding needs to battle climate change
When the Climate Summit opens in Paris next week, one of the biggest issues facing world leaders is funding: how best to raise the billions of dollars needed to prevent the devastating consequences of global warming worldwide.
A new plan unveiled Tuesday calls for 16 billion dollars in funding to help African countries adapt to climate change and build up the continent’s resilience to climate shocks, according to the World Bank Group and the UN Environment Programme (UNEP).
Asked for her response, Doreen Stabinsky, Zennström visiting professor of climate change leadership at Uppsala University in Sweden, told IPS the costs of addressing climate change impacts on Africa are already huge and must be added to the current finance priorities of African countries of sustainable development and poverty eradication.
“Indeed these sums estimated by the World Bank are first needed just to protect the development gains of the past few decades and really emphasize the injustice of the climate crisis for developing countries: at a time when their own resources and foreign assistance should be invested in development, they must spend scarce funds on adapting to a problem they did not cause, and suffering losses and damages from impacts they cannot adapt to.”
She said the estimates also show the gross inadequacy of climate finance on the table.