COP26 - Can it mobilise sustainable finance for Africa?
Addleshaw Goddard
60 Chiswell St, London EC1Y 4AG, UK
England
51.5149982
-0.0794908000000305
At COP15 in 2009, global leaders pledged $100 billion a year by 2020 to support vulnerable countries in tackling the impacts of climate change. This promise never materialised.
Against the backdrop of the Paris Agreement and the UN Framework Convention on Climate Change, global leaders are once again congregating in Glasgow in November 2021 for COP26, pledging net zero by mid-century and ambitious emission reductions targets by 2030. Though the targets are ambitious, translating them into actions remains challenging. Will these be another set of empty promises or will we see more examples of concrete progress, such as South Africa’s recent climate deal to end coal dependency, become a reality?
The time for concerted action has never been more evident for the African continent. Despite generating merely 4% of global emissions, temperatures in Africa are set to rise by as much as 3.5C from pre-industrial levels, increasing the probability of both drought and extreme weather events. On this trajectory 100 million people are expected to fall into extreme poverty in the next ten years.
Invest Africa and Addleshaw Goddard invite you to discuss how the private sector can play its role in achieving the COP26 targets and further strategies to implement more effective and innovative climate financing for Africa. We will bring together private and public sector stakeholders to outline strategies to accelerate climate change adaptation and mitigation measures across the continent and prevent further wide-scale disruption.
