Speaker at the 4th Annual Ministerial Conference of the AAA (Adaptation of African Agriculture) initiative, held under the theme “Innovative financing to accelerate climate adaptation of African agriculture” on the sidelines of the International Agricultural Show in Morocco (SIAM), Mr. Chami underlined that it is also a question of deploying “specific financial products for the agricultural sector (index insurance), as well as the carbon market whose relevance and effectiveness depend on a trade in carbon emissions rights carried out at a fair price.
And to maintain that to optimize the benefits of these mechanisms, it is important to promote the engagement of citizens and the local private sector in the definition of adaptation plans and the implementation of financing strategies, to strengthen capacities for have the data and expertise necessary to set up bankable projects and promote the “water-energy-food security” nexus approach at the level of each country, to promote better adaptation of agriculture to the effects of climate change, in addition to encouraging innovation and research and development to design the most adapted solutions to the specific problems of the Continent.
In the same vein, Mr. Chami recalled that the CESE, in its various contributions, had proposed avenues in favor of strengthening access to financing to accelerate the climate adaptation of African agriculture, in particular the implementation a reform of the international financial architecture given the complexity of accessing multilateral funds and the low level of directing of financial flows towards adaptation in Africa, as well as the adoption of a regional assessment mechanism of sovereign risk in order to reduce the cost of borrowing and promote economically sustainable financing, given that information asymmetries in terms of rating have cost the Continent no less than US$74.5 billion (UNDP, 2023).
He also cited the revision of the current interest rate system for Special Drawing Rights (SDR) to adapt it to continental realities and the broadening of the tax base for a more substantial mobilization of domestic resources. , by taxing polluting activities more.
“It is clear that financing for adaptation in Africa is insufficient to adequately respond to the growing needs of countries”, observed the president of the EESC, arguing that “according to projections, by 2050, the estimated cost of adaptation “Adaptation could increase from around 20 to 50 billion US$/year for a warming of +1.5°C, to more than 100 billion US$/year for a warming of +4°C.”
In this regard, he insisted on four major challenges in terms of access to financing, including financing for adaptation which remains largely lower than that intended for mitigation and access to climate funds in the form of non-concessional loans worsening debt pressure in Africa.
Added to this are the conditions of access to climate funds in the multilateral framework (green climate fund, loss and damage fund) which are globally restrictive, noted Mr. Chami, explaining that the cause is the difficulty of meet the technical requirements due in part to the complexity of the conditionalities of these mechanisms, the insufficiency of data and the need for expertise for the development of bankable projects.
He also pointed out the “mal-adaptation”, due to the lack of prioritization, planning, the lack of data and of course the failure to take into account the needs of citizens and their knowledge, deepens the vulnerability and ultimately, increases the need for financing.
Also president of the Union of Economic and Social Councils and Similar Institutions of Africa (UCESA), a regional organization bringing together more than 20 countries, whose main theme of the road map is none other than climate action, Mr. Chami said the Union conducted a perception study that covered 16 African countries and surveyed 8,200 citizens.
Based on the lessons learned from the study, a plea “for African climate action in the face of climate change” was made to promote the voice and priorities of citizens to governments and international bodies, he said. .
This work is currently continuing with specific country advocacy, intended to validly take into account the real needs of citizens in the revisions of the contributions determined at the national level (CDN) of the States, said Mr. Chami.
And he continued that UCESA has launched, at the same time, in-depth “deep dives” studies on climate mobility to raise awareness about taking mobility into account in development plans.
At the national level, Mr. Chami stressed that the CESE has produced opinions and other intellectual contributions related to climate policies and financing mobilization mechanisms to strengthen Morocco’s regional integration in Africa.
Africa is the least polluting continent (less than 4% of GHG emissions) but which risks suffering the most from the effects of climate change, which constitutes a double penalty, he regretted.
Furthermore, Mr. Chami indicated that the UCESA perception study revealed that the African citizen is “very impacted” by climate change, aware of the causes and effects of this change, worried about his future and voluntary and already in action to reduce the climate vulnerability of the agricultural sector.
And added: “The African citizen is thus totally willing to invest more in a national dynamic driven by governments. The fact remains that States continue to face major challenges in terms of access to financing to accelerate the ‘climate adaptation of their agriculture(s)’.
In addition, Mr. Chami affirmed that UCESA, as an organized civil society, acting on a continental scale, is willing to develop close collaborations with the “AAA” initiative, particularly in matters of identification. proven and locally appropriate solutions which would constitute important responses not only to climate change but also to increasingly obvious food insecurity.
The 16th edition of SIAM is organized under the High Patronage of His Majesty King Mohammed VI, from April 22 to 28, under the theme “Climate and agriculture: For sustainable and resilient production systems”.
2024-10-08 22:05:13