• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Saturday, July 5, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Africa loses 15% GDP to climate change – AfDB

GDP

The Matters Press by The Matters Press
September 13, 2022
Reading Time: 2 mins read
0
Nigeria to rebase CPI, GDP

Africa has been losing from five per cent to 15 per cent of its Gross Domestic Product (GDP) per capita growth because of climate change and its related impacts.

RELATED POSTS

Atiku’s mockery of Nigeria over Trump’s invitation to 5 African nation, a display of poor knowledge of global affairs

Nigeria’s new flood insurance policy laudable, needs quick application, says TMSG

Nigeria’s approval of dual NCE, B.Ed degrees in 15 colleges of education a good omen

Group Acting Chief Economist and Vice President, African Development Bank (AfDB), Mr Kevin Urama, said this in a statement posted on AfDB website on Tuesday.

Urama added that Africa needed 1.6 trillion dollars between 2022 and 2030 to meet its nationally determined contributions (NDCs).

According to the statement, the AfDB vice president said this on Sept. 7 at a panel discussion on the sidelines of Egypt International Cooperation Forum (Egypt-ICF 2022) in Cairo.

NDCs embody efforts by each country to reduce national emissions and adapt to the impacts of climate change.

They are submitted by countries under the Paris Agreement of the United Nations Framework Convention on Climate Change.

The panel discussion was titled, “African Countries Ownership in Determining Climate Agenda.”

“Collectively, African countries received only 18.3 billion dollars in climate finance between 2016 and 2019. This results in a climate finance gap of up to 1288.2 billion dollars annually from 2020 to 2030.

“Climate change affects Africa severely, while the continent contributes to only three per cent of global emissions,” said Urama.

He reiterated the need for the global community to meet its 100-billion-dollar commitment to help the developing countries and African economies to mitigate the impacts of climate change and to adapt to it.

“Investing in climate adaptation in the context of sustainable development is the best way to cope with the climate change impacts; gas must remain included in the continent’s plan for the gradual transition to clean energy,” he said.

He also affirmed that Africa had great potential in terms of green investment opportunities that the private sector, including banks, could tap into.

Egyptian Environment Minister, Yasmine Fouad, highlighted Egypt’s National Strategy for Alignment for both climate mitigation and adaptation, which had five key pillars.

“The first pillar focuses on how we can adopt a low greenhouse path, which centers on the sectors around renewable transport, gas, industry and waste.

“The second one relates to adaptation and how best to make the communities more resilient. The third and fourth ones are focused on how to protect coastal zones and have more accessibility and availability of water.

“The last one is about the need for developing more smart and integrated concoctions and that’s the stereotype of a strategy on climate,” said Fouad.

He, however, added that the fight against climate change needed an integration among the government, civil society and the private sector.

Ghada Wally, Executive Director of the United Nations Office on Drugs and Crime (UNODC) said women and young people were among Africa’s best assets.

Wally, who is also Director-General of the United Nations Office in Vienna, stressed the importance of exploring avenues to tap into “this significant asset for the sake of the continent’s sustainable development.”

The Egypt-ICF 2022 was held from Sept. 7 to 9 in Cairo.

Tags: AfricaGDP
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Drop your frustration, let President Tinubu be, Group picks on Atiku
Economy/Technology

Atiku’s mockery of Nigeria over Trump’s invitation to 5 African nation, a display of poor knowledge of global affairs

July 5, 2025
Veritas Kapital’s total assets hit N21.4bn
Economy/Technology

Nigeria’s new flood insurance policy laudable, needs quick application, says TMSG

July 4, 2025
Salvaging basic education from ruins of Boko Haram war in Borno
Economy/Technology

Nigeria’s approval of dual NCE, B.Ed degrees in 15 colleges of education a good omen

July 3, 2025
Group hails Presidential Council initiative, welcomes President Tinubu’s N2tn stabilisation package
Economy/Technology

Nasarawa showcases efficient use of fuel subsidy savings, exposes futility of Tinubu’s opposition’s mischief – TDF

July 1, 2025
Property owners besiege FCT office to pay ground rent
Economy/Technology

Transformational in FCT in line with Tinubu’s Renewed Hope agenda

June 30, 2025
China’s agricultural wholesale products prices continue to drop
Agriculture

Ignore Atiku’s claim to dilute historic mechanised farming deal with Belarus

June 29, 2025
Next Post
Nigeria gets AfDB’s $14m as member of ATI

AfDB, Egypt sign MoU to host bank’s 2023 annual meetings

July petrol pump price ranges between N140.80 and N143.80

Petrol price hits N250 per litre in Rivers

Recommended Stories

Trading in Nigerian stock market dips further N83bn

NGX outlines benefits of Special Purpose Acquisition Companies

November 18, 2021
3,000 manufacturers to attend global fair on industrial solution in Lagos

150 Indian companies invest $27b in Nigeria

January 27, 2024
Nigeria targets $1.2bn export capacity for every state

BPSR wants end to rejection of Nigerian exports

July 22, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Atiku’s mockery of Nigeria over Trump’s invitation to 5 African nation, a display of poor knowledge of global affairs
  • Nigeria’s new flood insurance policy laudable, needs quick application, says TMSG
  • Nigeria’s approval of dual NCE, B.Ed degrees in 15 colleges of education a good omen

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us