africa’s access to convention funds

Africa’s Access to Africa’s Access to Convention FundsConvention Funds

High Level Side EventCOP18, Doha, Qatar

03 December, 2012

African Development Bank

Key MessagesKey Messages

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Financial resources required to combat climate change and grow greener economies in Africa are considerable.

Despite recent improvements, Africa’s climate finance disbursement is not commensurate to its needs.

Dedicated climate funds remain relatively small in global terms, particularly Funds under the Convention, but place more emphasis on Africa.

The current paradigm of climate finance may sometimes fail to match Africa’s needs and has implications for the design of the GCF.

The African Development Bank is committed to increasing Africa’s access to climate finance.

Climate Damages as % of Climate Damages as % of GDPGDP

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Africa’s Exposure to Africa’s Exposure to “Runaway” Climate Change“Runaway” Climate Change

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The Global Finance The Global Finance LandscapeLandscape

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Source: Climate Policy Initiative, 2011

Mitigation FinanceMitigation Finance

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Adaptation FinanceAdaptation Finance

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Africa’s Climate Finance Africa’s Climate Finance FlowsFlows

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Africa currently receives far less climate finance than it requires

Source: CPI (2011), UNEP RISOE database and Vivid Economics/AfDB (2011) and (forthcoming)

12% of Disbursements for Africa in 4 years (Till 2010)

Financial CommitmentsFinancial Commitments

Africa & GEF Adaptation Africa & GEF Adaptation FundsFunds

10Source: Climate Funds Update

Africa and the Adaptation Africa and the Adaptation FundFund

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Region  Disbursement 

Asia and Pacific 49.5

Europe and Central Asia 8.25

Latin America and the Caribbean 47.02

Middle East and North Africa 19.42

Sub-Saharan Africa 42.17

Source: Adaptation Fund

Africa’s Absorptive Africa’s Absorptive CapacityCapacity

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Africa’s Adaptive Africa’s Adaptive CapacityCapacity

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The Green Climate Fund could represent a watershed in the flow of climate finance to Africa, if it address the following concerns:◦Scaled-up to meet Africa’s needs;◦Respects country-ownership;◦Supports Direct Access by African countries;◦Recognizes the ‘urgent need’ in African

states for adaptation, and builds adaptive capacities;

◦Encourages direct access in what may become ‘the main global fund for climate change finance

The Green Climate FundThe Green Climate Fund14

For information on how the For information on how the African Development Bank is African Development Bank is

providing solutions for providing solutions for Changing Climate in Africa, Changing Climate in Africa,

please visitplease visitwww.afdb.org

Thank you.Thank you.15