Europe takes lead in helping Africa deal with and adapt to climate change

Team Europe is taking the lead in helping Africa to adapt to climate change as it announces a new aid package that will take its investment in the continent over €1 billion.

Announced on Wednesday, November 16 at COP27 the support comes as part of the bloc’s EU-Africa Global Gateway Investment Package.

The new initiative will bring new and existing climate change programmes together reinforcing dialogue on adaption and improving coordination in efforts.

Launched by the European Commission along with Denmark, France, Germany and the Netherlands efforts will focus on helping African partners to further respond to their adaptation needs and mitigate disaster risks.

The Commission said that are countries within the bloc are free to sign up as are European banks, with additional support welcome in strengthening and accelerating Team Europe’s coordinated action in this field.  

There are four areas in which action is to be taken:

• Reinforcing early warning systems at regional and national level, strengthening governance, and promoting risk-informed decisions – in line with the UN initiative “Early Warning Systems for All” unveiled by UN Secretary-General Guterres at COP 27;
• Developing and implementing Climate and Disaster Risk Finance and Insurance (CDRFI) tools and mechanisms – such as innovative climate risk insurance products – to further protect vulnerable populations in support of e.g. the Global Shield against Climate Risks. This initiative aims to provide climate-vulnerable countries with rapid access to insurance and disaster protection funding after floods or drought.
• Increasing public sector readiness and supporting mechanisms to mobilise international climate finance on adaptation, including from the private sector.
• Supporting climate risk data collection, aggregation and analysis to improve relevant decision-making processes.

The EU and the African Union announce a new Team Europe Initiative as part of the EU-Africa #GlobalGateway Package.

It will enhance cooperation with African partners to further respond to their adaptation needs and mitigate disaster risks.

More: https://t.co/43GBp2dkTb#COP27 pic.twitter.com/7jHu8ri6Nc

— European Commission (@EU_Commission) November 16, 2022

The initiative has been taken by the Commission in response to the unprecedented climate events in the course of this century that have ravaged the continent of Africa. The Commission estimates that by 2050, climate impacts could cost African countries $50 billion annually.

Team Europe, who are the largest financial contributor of development assistance and the world’s biggest climate finance contributor, provide at least a third of the world’s public climate finance.

The Commission’s approach is fully aligned with the UN’s Agenda 2030 and its Sustainable Development Goals, as well as with the Paris Agreement goals.

With the situation is Africa expected to worsen Europe has taken the lead in helping the continent to adapt to climate change, particularly at a time when other major investors are focused on other problems.

Thank you for taking the time to read this article, do remember to come back and check The Euro Weekly News website for all your up-to-date local and international news stories and remember, you can also follow us on Facebook and Instagram.