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AfDB Organizes Roundtable on Climate Change Financing for Africa

22 September 2010: The African Development Bank (AfDB) organized a roundtable on African Perspectives on the issues before the UN High Level Advisory Group on Climate Change Financing, where participants highlighted that, for most African nations, the overwhelming challenge posed by climate change is how to adapt to its adverse impacts.

The rountable took place in Tunis, Tunisia, from 21-22 September 2010, and analyzed the issues before by the UN High Level Advisory Group. It brought together some 30 participants, including African negotiators and delegates, African parliamentarians, private sector representatives, policy makers and administrators in the energy, environment and finance fields. Opening the roundtable, Nkosana Moyo, AfDB Vice President and Chief Operating Officer, underscored that the impacts of climate change "which are already becoming visible, are affecting major parts of the economy" and are "pushing back efforts at development and meeting the Millennium Development Goals (MDGs).” Moyo said finance to support investments, technology development and transfer, as well as capacity building for both mitigation and adaptation is crucial if Africa is to adequately adapt to climate change impacts and move towards a low-carbon economy.

The UN High Level Advisory Group on Climate Change Financing is currently co-chaired by Prime Ministers Meles Zenawi of Ethiopia and Jens Stoltenberg of Norway. It is tasked with studying potential sources of funding for scaling up new and additional resources from developed countries for financing in developing countries. [AfDB Press Release]