Home NEWS Innovative financing needed for climate adaptation initiative – Stakeholders

Innovative financing needed for climate adaptation initiative – Stakeholders

Innovative financing needed for climate adaptation initiative - stakeholdersStakeholders say there is an urgent need for innovative financing mechanisms to support climate adaptation and resilient initiatives across Africa.

The Economic Commission for Africa (ECA) said this in a statement released on its website.

According to the statement, the stakeholders made the call at the end of the 12th Conference on Climate Change and Development in Africa (CCDA-XII) in Abidjan.

The News Agency of Nigeria (NAN) reports that the conference was held alongside the special Tenth Session of the African Ministerial Conference on Environment (AMCEN).

It brought together leaders, policy-makers, experts, and advocates from across the continent and beyond and served as a vital platform for exploring innovative solutions, sharing best practices, and forging strategic partnerships.

Throughout the conference, participants engaged in high-level discussions, workshops, and networking sessions aimed at driving actionable outcomes that would enhance Africa’s resilience to climate change while promoting sustainable economic growth.

The Acting Director, Climate Change, Food Security and Natural Resource Management Division, ECA, Nassim Oulmane, restated the importance of innovative financing mechanisms to climate adaptation.

“We recognise that without adequate, predictable and accessible financing, our efforts to implement climate adaptation strategies will be severely constrained.

“There is need to leverage collective expertise and resources to ensure that African Governments, institutions, and communities are equipped with the scientific evidence, tools, and financial support necessary to withstand the impacts of climate change.

“The emphasis on inclusive stakeholder engagement – particularly involving women, youths, and marginalised communities restates our commitment to fair and equitable climate-resilient development,” he said.

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Oulmane said that going forward, it was crucial to continue to empower those most affected by climate change, ensuring their voices were integral to the policy-making process.

He reiterated that this approach was essential not only for justice but also for the effectiveness of our climate strategies.

The Executive Director of the Pan African Climate Justice Alliance (PACJA), Mithika Mwenda, said the conference was pivotal in amplifying Africa’s voice on climate change.

“From addressing the adaptation finance gap to highlighting the impacts of desertification.

“Our collective efforts and messages are now set to influence the Tenth Session of the African Ministerial Conference on the Environment (AMCEN) and COP 29,” Mwenda said.

NAN reports that the conference featured a wide range of sessions covering critical topics such as climate finance, carbon markets in Africa, and energy transitions.

It emphasised the need to work together to find innovative ways of leveraging limited public resources to mobilise the investments needed for climate action.

The insights and strategies developed at the conference will serve as a roadmap for African countries as they prepare for the upcoming COP 29 negotiations and beyond.