The COP27 meeting went underway on Sunday at the Egyptian resort city of Sharm el-Sheikh where world leaders are expected to discuss critical issues affecting the environment globally, which are increasingly being felt around the globe.
It follows a similar gathering in Glasgow last year, during which stakeholders agreed to renew the effort to increase climate funding towards developing countries, while a commitment was made to double adaptation funding to $40bn.
However, key sticking issues remain and must be addressed for Africa to be able to get a better deal out of the negotiations for equitable distribution of funding towards adaptation and mitigation of climate change.
For instance, since 2009, the pledge of $100 billion every year by 2020 to support developing countries cope with climate change has never been met until today.
Today, they are short of $16.7 billion to hit the target. Now the deadline to achieve $100 billion in annual funding has been pushed to 2025.
While the continent is the least developed among other continents and one that is trying to leapfrog others in terms of development, there is so much it will have to forego as part of the global effort to curb the escalating impact of climate change.
To make matters worse, the continent is already feeling the impact of climate change over pollution that largely comes from elsewhere – from the most industrialised nations.
Currently, Africa only contributes 4 per cent of the global emissions yet it continues to bear the harshest brunt.
Other issues keep coming up in similar gatherings, include the lack of clarity around carbon market trading and how Africa can leverage them to build resilience against the escalating impacts of climate change.
To be able to make the most out of the meeting, which is now being hosted on the continent however, Africa must speak with one voice to make sure their concerns are adequately addressed.
African leaders must also not just demand for funding. They must make sure they are ready to absorb that funding, when it comes.
Getting ready means building the necessary capacities in terms of human capital and having an enabling policy infrastructure that will make sure that funding serves the intended purpose.
