The Global Center on Adaptation is inviting stakeholders to the virtual launch of the 2022 State and Trends on Adaptation in Africa Report.
The launch is set for Thursday 3rd November from 13.00 – 14.00 CET.
With less than one week until COP27 in Sharm El Sheikh, Egypt, the Global Center on Adaptation is gathering global leaders to discuss expected outcomes from COP27 and to present the findings of its flagship report “State and Trends in Adaptation in Africa 2022” (STA22).
STA22 is the most comprehensive guide to assess progress on climate adaptation in Africa and provide guidance and recommendations on best practices in adapting to the effects of a changing climate and building resilience to climate shocks. The report highlights successful adaptation initiatives from the Africa Adaptation Acceleration Program (AAAP) which have the potential to be scaled up and replicated. It also presents key policies, skills, and finance gaps that must be addressed if adaptation is to be effective and reach those who need it the most.
The opening address and report launch will be done by Professor Patrick Verkooijen, the Chief Executive Officer of the Global Center on Adaptation. Other High-Level Speakers include Dr. Akinwumi Adesina, the President of the African Development Bank Group; Hon Chrysoula Zacharopoulou, the Minister of State to the Minister for Europe and Foreign Affairs, for Development, Francophonie and International Partnerships; and Josefa Leonel Correia Sacko, the Commissioner for Rural Economy and Agriculture at the African Union.
The technical presentation of the report will be done by STA22 Co-Directors, Professor Jamal Saghir and Ede Jorge Ijjasz-Vasquez.
At COP26 in Glasgow last year, the global donor community promised to double finance for adaptation from the current rate of up to a quarter of climate financial flows earmarked for the developing world. It is expected at COP27 that significant progress will be made on climate finance including the delivery of the promised $100 billion a year to assist developing countries.
This year’s report found that cumulative adaptation finance to 2030 will come to less than one-quarter of the estimated needs stated by African countries in their National Determined Contributions (NDCs). In 2019 and 2020 an estimated $11.4 billion was committed to climate adaptation finance in Africa with more than 97% of the funds coming from public actors and less than 3% from the private sector. This is significantly less than the $52.7 billion annually to 2030 it is estimated African countries will need.
To increase the volume and efficacy of adaptation finance flows to Africa over the coming decade, the report makes a number of recommendations:
- Financial institutions must mainstream resilience into investments they are making.
- Policymakers and other stakeholders must build an enabling environment for adaptation investment.
- Financial innovation for adaptation must match country-level policy and market conditions.
About Global Center on Adaptation
The Global Center on Adaptation (GCA) is an international organization that works as a solutions broker to accelerate action and support for adaptation solutions, from the international to the local, in partnership with the public and private sectors. Founded in 2018, GCA operates from its headquarters in the largest floating office in the world, located in Rotterdam, the Netherlands. GCA has a worldwide network of regional offices in Abidjan, Cote d’Ivoire; Dhaka, Bangladesh, and Beijing, China.