Climate change, poorly managed coastal environments, pollution, and other threats are putting immense pressure on Africa’s oceans, impacting both its environment and economy. To address these concerns, the African Union adopted a comprehensive climate change and resilience strategy in 2022 providing a robust framework to assess key challenges and priorities.

At the sidelines of the Africa Climate Summit, the African Union InterAfrican Bureau for Animal Resources together with its partners: South African Institute of International Affairs (SAIIA), SADC Secretariat, Mwambao Coastal Community Network Tanzania, MIHARI Network, Madagascar and AUDA-NEPAD participated in a panel to discuss Ocean climate and the Blue Economy.

Africa’s vulnerability to climate change is a global concern making it imperative to collaborate on building resilience and adaptation strategies. Oceans, as carbon sinks, play a crucial role in reducing emissions, presenting an opportunity for climate action.

The panel highlighted critical challenges facing marine ecosystems, emphasizing the urgent need for action. The African Union’s vision for the blue economy extends beyond the oceans, encompassing inland water bodies and emphasizing the nexus between oceans and climate. AUDA NEPAD’s commitment to translating policy decisions into actionable projects, coupled with the AU’s endorsement of the blue economy, underscores the region’s dedication to creating a sustainable environment.

Read also : Digital Payment Service PayShap Closes in on a Million Transactions

The AU-IBAR, tasked with developing and utilizing animal resources, is actively engaged in the blue economy. Conserving aquatic biodiversity projects is central to this mandate, as a healthy ocean is fundamental to the blue economy sector. Dr. Alberta Sagoe, AU-IBARs Gender Policy and Strategy Expert noted that the project focuses on supporting AU member states to align with global instruments related to the blue economy, coordinate activities, address climate change, mitigate deep-sea mining, and enhance women’s inclusion in aquatic biodiversity conservation. The gender sensitivity agenda and collaboration with organizations like IUCN are key strategies in this endeavor.

SADC’s climate change strategy includes a blue economy component, aiming to address ocean-related challenges through an ecosystem-based adaptation approach. This approach emphasizes coordinated and coherent management, fostering innovation and good practices. Tanzania’s Mwambao coastal unit talked about the positive impact of community engagement, demonstrating how management planning and resource conservation can improve ocean health and local livelihoods. 

The panel discussion conveyed several key messages. There’s a pressing need to increase commitment to ocean-related issues, aligning them with broader climate discussions like the Conference of Parties (COPs). The sustainable exploitation of resources while conserving biodiversity is vital, with a focus on gender equality and the invaluable contributions of women. Close collaboration between national focal points for climate change and blue economy sectors is essential. Harnessing the benefits of carbon sequestration and engaging stakeholders at all levels will be instrumental in creating a sustainable blue economy.

Read also : Kenyan Fintech Startup FlexPay Secures Renew Capital Investment for ‘Save Now, Buy Later’ Revolution

Additionally, dialogue platforms that bring together different parties to tackle specific issues will be essential to support member states in preparing for the growth of coastal and marine tourism alongside oil and gas exploration. Ultimately, Africa’s blue economy holds great potential, but it must be developed sustainably, considering the well-being of its environment and communities.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

A lack of adequate financing for tackling climate change in Africa has become dire and is “choking” the continent, African Development Bank Group President Dr. Akinwumi Adesina said on Monday.

He was addressing scores of journalists from Africa and around the world at a media lunch organized to kick off its 2023 Annual Meetings in the Egyptian resort city of Sharm El Sheikh.

Adesina called out developed nations for not honoring the $100 billion-a-year climate finance pledge they made to developing countries.

“Africa is being short-changed in climate finance. Africa is choking,” he told the journalists.

“Your role as the media is very important to help carry the news – the news of efforts being made, challenges being faced, and the fierce urgency of now in getting much-needed climate finance to Africa,” the Bank chief said.

The Bank Group’s Annual Meetings will allow the Bank’s Board of Governors, African leaders and development partners to explore practical ways of “mobilizing private sector financing for climate and green growth in Africa,” in line with the theme of this year’s meetings.

read also African Lion 2023 Begins

Adesina said the theme was chosen to draw attention to the urgent need for climate finance.

“Anywhere you look in Africa today, climate change is causing havoc,” Adesina said. “In the Sahel, hotter temperatures are drying up limited water, causing water stress for crops and livestock and worsening food insecurity.”

The Bank chief said that in vast areas of East and Southern Africa, and in the Horn of Africa, a combination of droughts and floods is causing massive losses of people and infrastructure, leading to rising numbers of refugees.

“There is still much to do, as Africa’s private sector climate financing will need to increase by 36% annually,” he said.

The African Development Bank is spearheading climate adaptation efforts across the continent and has devoted 63% of its climate finance, the highest among all multilateral development banks.

The Bank’s new Climate Action Window  will support millions of farmers, enabling them to access climate-resistant seeds. The institution has also launched the Desert to Power initiative  to develop 10,000 megawatts of solar power to benefit nearly 250 million people across the Sahel.  

The Bank and the Global Center for Adaptation have launched the African Adaptation Acceleration Program (AAAP) to mobilize $25 billion to support Africa’s adaptation to climate change. It has also established Alliance for Green Infrastructure (AGIA) in partnership with other institutions, to mobilize $10 billion in private investment for green infrastructure in Africa.

read also South African Fintech e4 Acquired For $52.5M

Adesina and the Bank Group’s operational vice presidents answered questions on the potential for using capital market instruments such as green bonds to back climate-related investments.  

According to Bank estimates, Africa will need $2.7 trillion by 2030 to finance its climate change needs.

Adesina said, “If Africa had that money, the Sahel would have electricity. If Africa had that money, we would recharge the Chad basin, which has provided livelihoods for millions of people in Chad, Nigeria, Niger and Cameroon. Everything will change in all those countries; we will green the Sahel. We will insure every single African country against catastrophic weather events.”

Adesina told the journalists, “Africa’s measured natural capital alone is estimated to be worth $6.2 trillion,” which, if well harnessed, can spur a more rapid economic growth and wealth generation.

He spoke about the Bank’s flagship Technologies for African Agricultural Transformation (TAAT) scheme that provides heat-tolerant seed varieties to increase yield in crops such as wheat. He gave the example of Ethiopia which is now self-sufficient in wheat production and plans to export the surplus to neighbouring countries.

read also Morocco Partners Africa Finance Corporation to Advance Critical Financing for Local Institutions

Dr Adesina was accompanied by Vice Presidents Professor Kevin Urama, Dr Kevin Kariuki, Dr Beth Dunford, Solomon Quaynor, Marie-Laure Akin-Olugbade and Simon Mizrahi.

The Bank will on Wednesday launch its annual African Economic Outlook report, a flagship publication on the state of African economies.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry