Cop 27, an opportunity for Zim to push for sustainable climate financing

Enacy Mapakame

The 27th Conference for the Parties (Cop 27) to the United Nations Framework Convention on Climate Change (UNFCC) to be held in Egypt in November this year, is an opportunity for Zimbabwe and the whole of Africa to push for more favourable climate financing options to help mitigate the impacts of climate change in the region.

This will also be an opportunity to compel developed countries to own up to their promises of availing US$100 billion fund every year for climate mitigation in developing countries like Africa, that have been battling the adverse impacts of climate change like flooding, droughts and other weather induced phenomena. Financing is identified as an enabler to climate action.

This comes as climate induced disasters have been on the increase in the region, negatively affecting their economies, exposing them to food insecurity and abject poverty.

Speaking at the recently held Road to COP 27 meeting hosted by the Zimbabwe Coalition on Debt and Development (ZIMCODD) in conjunction with the Zimbabwe Climate Change Working Group (ZCCWG) in Harare, Egyptian Ambassador to Zimbabwe Mahmoud Amer, said it meant a lot for the continent to be hosting this huge conference for the first time.

As such, it was imperative for the region to take advantage of this to speak with one voice and push for the African cause.

“As Africa, we need to speak with one voice and champion our cause, highlight Africa’s predicament and what we need to tackle the issues we are facing. Issues around adaptation and mitigation remain topical.
“This is an opportunity to pressure developed countries to own up to their promises for climate financing. We did not contribute to these emissions that have affected the region and other developing countries,” he said.

Ambassador Amer also implored the civil society and business community to play a leading role and assist regional governments in pushing the African concerns to the table at COP 27. Recently, our sister paper Business Weekly held a conference on climate change in conjunction with Financial Markets Indaba (FMI) with captains of industry to proffer sustainable solutions to the climate scourge.

COP 27 is scheduled for the 7th and 8th of November this year in Sharm El-Sheikh in Egypt. Tawanda Muzamwese from African Sustainability Consultants said there have been a lot of pledges made towards climate action by developed countries without delivery, creating scope for the region and other developing countries to push for reliable financing.

He called on Zimbabwe and the rest of the region to take the COP 27 seriously and not treat it as an ordinary conference, a holiday retreat or an opportunity for allowances and shopping sprees.
“In Egypt, we are calling for reliability in climate financing, when it is reliable, it also becomes predictable.

“We need loss and damage financing, the damages that we are dealing with due to climate change causes such as tropical cyclones should be paid for and we need to bring this up in Egypt,” he said.
In 2019, Zimbabwe together with Mozambique and Malawi were affected by Cyclone Idai that claimed 1300 lives and an estimated US$773 million worth of infrastructure damage.

Housing, agriculture, transport and energy infrastructure were severely damaged in the Eastern Highlands of Zimbabwe resulting in supply chain disruptions. World Bank estimated US$1,1 billion would be required to restore damaged infrastructure and livelihoods.

Experts say such damages should be catered for by the climate fund from developed countries.
Africa Coal Network’s Bobby Peek called on the need for transitional financing to close the funding gap that prevents Africa from equal participation in, for instance, the design of a new global power system beyond coal, which is a major source of energy for many developing countries. However, it is being de-campaigned for contributing to green-house gas emissions.

He also highlighted the importance of restorative justice, which entails creating a more decentralized, zero-carbon economy, which allows for greater economic inclusion, ownership and participation, especially for women and youth. Where at local government level, more needs to be done in coming up with strategic plan, that ensures infrastructure that can stand the face of climate induced challenges.

“We need infrastructure that enables us to survive the effects of climate change,” he said. COP 27 was originally scheduled to take place last year in November but was affected by Covid-19 related disruptions.

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