AU Executive Council African Risk Capacity Group stated that a fund to compensate the climate crisis happening due to global causes should be operationalized within the shortest time period.
In a side event accompanying the 44th ordinary Session of the AU Executive Council, Director General for African Risk Capacity Group Ibrahima Cheikh said that Africa’s proposal in the COP-27 was so clear; hence a fund to compensate the climate crisis happening due to global causes should get operational within the shortest time.
Africa is releasing not more than four percent emission but facing the devastating climate change impact. Climate-fund promised by huge gas emitters is still in doubt, African Risk Capacity Group announced.
“Many countries are still doubtful, trying to push the type of incentive because it shows possible sense of guilt in some of countries and they are pushing it back.”
“The good news is in the COP- 28, for the first time, we got not only commitment, but also the international community took responsibility to operationalize funds promised earlier. We could build resilient Africa and will also help all developing countries across the globe,” he stated.
He said, “There was a commitment of 600 million USD at the COP-28. I hope that additional billions of USD will be in the way to be released in couple of months. Then, we can provide sufficient funding obviously the loss and damage,” he noted.
The amount of the loss and damage is being set up and by June they will have fully operational fund by organizations like the AU itself, according to the General Director.
He further explained that providing resources to all particularly to most vulnerable communities is quite important. “Furthermore, we need to make sure that the private sector deserves incentive to get into green economy and investment,” he added.
