Tuesday, 02 January 2024 12:17 GMT

Global Climate Summit In Zambia Demands Increased Funding For Adaptation Efforts


(MENAFN- The Arabian Post)

LUSAKA, Zambia - The largest climate adaptation event of the year wrapped up in Lusaka, where world leaders, policy makers, and experts issued a strong appeal for increased financial commitments to tackle the accelerating impacts of climate change. Hosted in Zambia, the UN Climate Adaptation Expo served as a key platform for discussing strategies to protect vulnerable populations and economies from the worsening climate crisis.

The Expo, held in the Zambian capital, brought together over 2,000 participants from across the globe, including representatives from governments, international organisations, and NGOs. The central message emerging from the gathering was clear: more robust funding is needed to help communities worldwide adapt to changing weather patterns, rising sea levels, and extreme weather events.

As one of the most climate-impacted regions, Africa faces significant challenges in addressing climate change. It is predicted that by 2050, over 118 million people across the continent could be displaced due to climate-related factors, exacerbating existing issues such as food insecurity and poverty. Experts at the event highlighted that the continent, while bearing the brunt of climate change, is receiving only a fraction of the global climate adaptation funding required.

Zambia's President, Hakainde Hichilema, emphasised the urgent need for financial support to implement climate-resilient solutions. His remarks echoed the sentiment of many leaders at the Expo, who pointed out that adaptation strategies could no longer be delayed.“We are witnessing the collapse of agriculture, infrastructure, and livelihoods due to climate impacts. Financial mobilisation is the key to adapting to these changes,” Hichilema stated.

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Among the key discussions at the Expo were the significant investments required for water management, resilient agricultural practices, and sustainable energy solutions. Adaptation financing mechanisms, including the Green Climate Fund and national climate adaptation plans, were explored as potential tools to redirect resources towards the most vulnerable populations. However, many speakers argued that these mechanisms are insufficient given the scope of the climate challenges faced by developing nations.

While the event was a platform for sharing solutions, there was consensus that existing funding commitments have not been met, and the gap between the pledges made in global forums and actual financial flows continues to widen. According to the UN's annual report, global adaptation financing stands at only a fraction of the necessary $340 billion a year needed to support adaptation efforts by 2030.

International bodies such as the United Nations Framework Convention on Climate Change and the World Bank have reiterated the need for developed nations to fulfil their pledges made under the Paris Agreement. The commitment to provide $100 billion per year in climate finance to developing nations has yet to be fully realised, with experts highlighting that this remains a critical point for international negotiation.

The call for increased finance is not limited to Africa but extends to vulnerable nations around the world, including small island states and regions facing desertification. However, the challenge of financing these efforts goes beyond funding. There is also a pressing need for better governance, transparency, and accountability in the distribution of climate funds, ensuring that resources reach the grassroots where they are most needed.

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A focal point of the discussions was the importance of integrated climate adaptation strategies that align with broader sustainable development goals. Experts advocated for creating synergies between climate adaptation and development objectives, arguing that sustainable, long-term solutions can only be achieved if adaptation efforts are rooted in local community needs and backed by effective policy frameworks.

This year's Expo also showcased a range of technological innovations aimed at building climate resilience, including AI-powered tools for monitoring and forecasting weather patterns, solar energy solutions, and climate-smart agriculture techniques. Many delegates stressed the importance of fostering innovation to reduce costs and enhance the scalability of adaptation solutions.

The Expo concluded with a united call for an enhanced financial architecture for climate adaptation. Experts noted that while the discussions had been productive, there was still a significant gap between the promises made at international forums and the concrete actions needed on the ground.

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