The ONE campaign which is a global organization that is campaigning to end extreme poverty and preventable disease by 2030, is calling on all leaders to use the Summit as a tool to elevate the following policy changes to start the journey in building a more balanced trade and more resilient African economy.
The team is urging all leaders to use this pivotal moment to unite around a shared pan-African agenda : one that brings justice and prosperity.
According to United Nations, many African countries are struggling with limited monetary and fiscal space, compounding debt amid competing development priorities.
The establishment of the Global Biodiversity Framework Fund at the Global Environment Facility Assembly in Vancouver holds the potential for addressing the biodiversity crisis.
It will work only if it is transparent, predictable and timely, and benefits indigenous peoples and local communities.
Last year, at COP27, parties agreed to increase financing to facilitate global transformations to a low-carbon economy. This requires at least $4 trillion to $6 trillion a year.
Unfortunately, developed countries still have not fulfilled their pledged $100 billion per year. Estimates show Africa needs at least $2.8 trillion between 2020 and 2030 to fulfill its promises articulated in the NDCs.
ACS and ACW could play a crucial role in advocating for financial commitments and the effective implementation of the Loss and Damage Fund in preparation for COP28.
ONE is therefore calling on all leaders to use the Summit as a tool to elevate the following policy changes to start the journey in building a more balanced trade and more resilient African economy.
Some of the highlights that one campaign are stressing on include:
- World Bank shareholders and donor governments to commit to tripling grants and loans from the IBRD and IDA, which could deliver an additional $1.2 trillion in finance by 2030.
- Donor governments to deliver on their commitment to double adaptation finance and commit to a framework for the Global Goal on Adaptation that is needs-based and includes targets and/or indicators.
- Unblock the barriers so Special Drawing Rights can be recycled through multilateral development banks and the African Development Bank in particular.
Speaking during a press conference on Sunday 3rd September, 2023, Serah Makka, the Director for Africa at The ONE Campaign, said “The key to unlocking the untapped potential of this continent isn’t handouts or second-hand solutions from rich nations. It’s removing the barriers standing in our way.”
“African countries possess the tools, talent and renewable resources to fuel their own growth and be at the vanguard of efforts to tackle climate change, poverty and inequality everywhere. But they are being blocked by a broken global financial system that denies them access to the affordable finance needed to unleash this potential, ” she added.
“No country must choose between improving the lives of their people and protecting the planet. If the rest of the world truly gets behind Africa they can help unleash a green economic revolution that will drive growth and prosperity across the continent and help the whole world to rise to the biggest shared challenges we face,” Director Serah Makka noted.
Josefa Leonel Correia Sacko, Africa Union Commissioner in charge of Agriculture, Blue Economy and Sustainable Environment, said ”Africa accounts for the smallest share of global greenhouse gas emissions, at just 3.8 percent, in contrast to 23 percent in China, 19 percent in the US, and 13 percent in the European Union. Yet, the continent is the most vulnerable to climate change hazards. ”
”Ahead of COP28, Africa needs to negotiate not from a victim perspective, but from a solutions perspective. We need to work together as a continent. We have all the resources needed to mitigate climate change challenges,” she added.
Africa Union Commissioner Josefa also noted that Development partners need to also honor their promise made in the Paris agreement of investing $100 billion in mitigating Africa’s climate challenges. This she said as the investment has not yet been seen.
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