Dr Akinwunmi Adesina, Group President of the African Development Bank (AfDB), stated that Africa loses between $7 and $15 billion every year due to the effects of climate change. Adesina stated this at a media conference in Nairobi on the sidelines of the ongoing AfDB Annual Meetings 2024.
According to the News Agency of Nigeria (NAN), the gathering would commemorate the AfDB’s 60th anniversary and 59th Annual Assembly, as well as the African Development Fund’s 50th meeting. Adesina stated that, while Africa contributed minimally to global emissions, it bore a disproportionate share of environmental disasters.
According to him, the continent, which accounts for only three to four percent of emissions, is experiencing the most severe effects of environmental upheaval. He stated that if prompt action is not taken, the situation will worsen, and that by 2030, Africa’s annual losses from climate change might reach a staggering $40 billion.
“The nation loses seven to fifteen billion dollars per year due to climate change. If this trend continues, it will reach almost $40 billion per year by 2030. “That implies we’re missing a lot of potential for something we didn’t cause because this is not responsible for more than three to four percent of global emissions.
According to the AfDB president, the current events clearly depict Africa’s struggle with the elements.
“From Malawi’s worst drought in memory to Zimbabwe declaring a national emergency owing to a severe drought and Mozambique dealing with disastrous floods, the continent is under siege from extreme weather phenomena.
Africa
Adesina emphasised the importance of taking action, rather than simply acknowledging the need for global financial support to strengthen it’s resilience and promote adaptation efforts. “It’s economy’s future is going to depend on building resilience to these particular shocks because climate change is devastating the whole continent,” he stated. (NAN)
Source: vanguardngr.comÂ
