‘Africa should say no to climate change loans’
Written by Millennium on June 30, 2019
LINDA SOKO TEMBO writes
Zambia and 0ther African nations should oppose the emerging narrative of financing climate change through loans.
Speaking at the Bonn Climate talks in Germany, Carol Zulu coordinator for the Zambian delegation said just like other African negotiators they too were concerned and opposed the emerging narrative of financing climate change through loans.
This is commercialization of climate finance will be counter-productive to the spirit of the convention, which was based on common but differentiated responsibilities of parties.
Climate finance remains a crucial topic at the United Nations climate talks, as it is the core aspect for implementation of the Paris Agreement.
“At the Mid-year session in Bonn, Germany, the Zambian delegation is therefore making it clear that it is against manoeuvres to commercialise climate finance.
“It critical for Africa, and Zambia in particular, to get consistent financial and technical support for adaptation considering that the negative effects of climate change are already being felt at greater scale through frequent and intense droughts and floods, affecting mainly energy production and agriculture leading to food scarcity and reduced economic activities,” she said.
Ms Zulu said the idea of commercializing climate finance was counter-productive to the spirit of the convention, which was based on common but differentiated responsibilities of parties.
She said the convention was clear on the responsibility of developed countries to provide financial and technical support to developing countries as a moral obligation to address climate change based on the historical context of the climate crisis.
Ms Zulu said this was in view that loans overburdened small economies as developing countries and that the priority for African countries and Least Developed Countries revolved around adaptation which was more of a social service in nature than an income/revenue generating source as compared to mitigation measures such as carbon markets.
Meanwhile, Pan African Climate Justice Alliance (PACJA), Executive Director, Mithika Mwenda, said the civil society groups had warned the African group of negotiators to stay alert to the commercialisation agenda allegedly being pushed by the global north.
Mr Mwenda said PACJA was gravely concerned that the commercialisation agenda of climate finance was taking root.