The 2022 African Economic Conference (AEC) opened today in the island nation of Mauritius with a strong call for Africa to adopt smart technologies to address what speakers described as “the looming threat of climate change” to the continent.
“Supporting climate-smart development in Africa is extremely relevant. Climate change is an imminent threat to Africa. The continent is the region most vulnerable to climate disasters,” said Pravind Kumar Jugnauth, Prime Minister of Mauritius, at the opening of the conference.
Prime Minister Jugnauth emphasized how the rise in oil prices caused by Russia’s war in the Ukraine should accelerate Africa’s motivation to move away from fossil fuels and become self-sufficient in electricity production. “To meet the challenges of climate change more effectively, Africa needs the support and assistance of development partners,” he added.
The largest pan-African economic meeting is held under the theme “supporting climate-smart development in Africa”. It brings together various stakeholders (policy makers, climate experts, the private sector, researchers and youth) to discuss and draft an action plan to support low carbon and climate resilient development in Africa.
In a speech read by Acting Chief Economist and Vice President Professor Kevin Urama, African Development Bank President Dr Akinwumi Adesina underscored the urgency for Africa to adapt to climate change.
“Africa is suffering the devastating effects of climate change, droughts, floods, irregular rains, locusts and armyworms,” he said. “Supporting climate-smart and environmentally friendly development is a step in the right direction,” she said.
Estimates show that Africa suffers losses of $7-15 billion a year from climate change, which are projected to rise to $45-50 billion a year by 2040.
During COP27, the African Development Bank and its partners launched the Partnership for Green Infrastructure in Africa to accelerate the development of green infrastructure in Africa.
In her remarks, Assistant Administrator and Director of the United Nations Development Program Regional Office for Africa, Ahunna Eziakonwa, emphasized that Africa’s path to achieving the Sustainable Development Goals must be climate-smart.
“In 2022, we have seen a climate emergency hit with increasing intensity. At the same time, climate change-induced drought is precipitating famine and even famine in regions like the Horn of Africa,” she added. “Protecting the planet cannot be an option, it is an urgent priority.”
Speaking about the recently concluded United Nations Climate Change Conference, COP 27, he said: “While COP27 in Egypt did not achieve the drastic emission reductions the world needs, it did see the establishment of financing arrangements for loss and damage.”
Ahunna spoke to the participants about a new partnership between the Global Environment Facility, the United Nations Development Programme, the African Development Bank and the Rocky Mountain Institute. Together they will support new markets for mini solar battery grids in 21 countries in Africa.
The Deputy Executive Secretary of the United Nations Economic Commission for Africa, Dr. Hanan Morsy, noted that this year’s conference theme provides an opportunity to digest and synthesize the discussions at COP 27 and propose recommendations to support the climate-smart development in Africa.
“Africa needs to close huge development gaps by investing substantially in key sectors such as energy, agriculture, transport, water and cities, among others. All of these sectors are highly vulnerable to the adverse impacts of climate change,” Morsy said.
ECA is working with partners to support the development of just energy transition plans in many African countries, taking advantage of the continent’s abundant clean energy resources. It is also working with the African Export-Import Bank, the Africa Finance Cooperation, the African Development Bank and other partners to leverage the African Continental Free Trade Area to use Africa’s abundant clean energy resources to transform minerals from the continent.
The idea is to “support regional and global value chains related to the global push for net zero emissions,” Morsy said.
The African Economic Conference is jointly organized by the African Development Bank, the Economic Commission for Africa and the United Nations Development Programme.
