Top Posts
Former UK PM says Petrostate windfall tax would...
Labour to insist on net zero policies, attack...
China’s World Bank’ to triple climate change lending...
Sharma asks Sunak to show how UK can...
UK among 32 countries facing European court action...
Ex-UN chief: Exclude fossil fuel firms from Cop28...
King Charles seeks stronger France-UK ties, partnership on...
Asahi boss warns climate change could lead to...
Scientists want Australia to wipe out climate footprint...
Report shows Twitter ranked worst in climate change...
EcoNai Newsroom
  • Newsround
  • Nigeria
  • Africa
  • World
Africa

Nine countries to participate in first nature, people climate platform

by Matthew Atungwu December 2, 2022
written by Matthew Atungwu December 2, 2022
102

A total of nine countries under the Nature, People and Climate Investment platform of the Climate Investment Funds (CIF) will benefit from its $350 million in financing support for nature-based solutions to climate change.

Among the benefitting countries are the Dominican Republic, Egypt, Fiji, Kenya, and the Zambezi River Basin Region, comprising Zambia, Malawi, Mozambique, Namibia and Tanzania. They were announced during the global climate summit (COP27) taking place in Sharm el-Sheikh, Egypt.

The Nature, People and Climate program deploys nature-based solutions that acknowledge linkages among land use, climate-change mitigation and adaptation, and the improvement of the sources of livelihoods of rural communities and Indigenous people.

Additionally, it covers sustainable agriculture, food supply, forests, resilient coastal systems and efforts to empower indigenous people and local communities.

The participating countries are expected to develop investment plans in collaboration with a number of partner multilateral development banks as a next step, after which the platform also works with multilateral development banks to de-risk and scale investment based on a systems-level rather than a project-level approach.

Read also: Health Ministry: says Climate Change sending more Israelis to hospital

Speaking about the development, the Funds’ CEO, Mafalda Duarte said that fifty-five developing countries applied to participate in the program over the past few months, underscoring the urgent demand for climate finance.

“I extend our gratitude to Italy, the United Kingdom and Sweden for the incredible partnership. Congratulations to these countries. We cannot wait to get going and this is only the beginning. We will also be supporting Ethiopia, Rwanda, Namibia and Brazil for investment plan preparations, in anticipation of receiving further contributions,” Duarte said.

Also speaking, Italy’s Special Envoy for Climate Change, Ambassador Alessandro Modiano, said: “Humanity is facing a dual threat: climate change and biodiversity loss. The two are a dire consequence of human activity and economic progress at the expense of nature,” he said.

Egypt’s Minister of International Cooperation Rania Al-Mashat thanked Climate Investment Funds on behalf of her country, saying “we have a lineup of priority projects on adaptation and mitigation. These funds will help us implement these plans,”.

According to the United Nations Environment Programme (UNEP), annual nature investments from G20 nations alone need to increase by an additional $165 billion per year, an increase of 140 per cent from existing levels, to realize biodiversity, land restoration and climate targets by 2050.

Story was adapted from AFDB.

AfricaClimate InvestmentFundsPlatformSupport
0 comment 0 FacebookTwitterPinterestEmail
admineconai

previous post
Health Ministry: says Climate Change sending more Israelis to hospital
next post
NASA cancels greenhouse gas monitoring satellite due to cost

Related Posts

Study shows global heating made Greece, Libya floods...

September 19, 2023

Libya flood responders seek international support

September 15, 2023

Study warns Addis Ababa faces growing climate change...

September 14, 2023

Morocco receives assistance offers following worse earthquake in...

September 11, 2023

GFANZ Africa Network, AFDB announce climate action partnership

September 10, 2023

Death toll from Morocco’s strongest earthquake rises to...

September 10, 2023

AFDB unveils initiative to cushion farmers from climate...

September 9, 2023

Climate adaptation finance to Africa must increase tenfold,...

September 8, 2023

AFDB pledges $996.6 million to young entrepreneurs in...

September 8, 2023

African leaders seek new global tax for climate...

September 7, 2023

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

  • Facebook
  • Twitter
  • Instagram
  • Linkedin
  • Bloglovin
  • Vimeo

@2021 - All Right Reserved. Designed and Developed by Eco-Nai+

EcoNai Newsroom
  • Newsround
  • Nigeria
  • Africa
  • World