The world has demonstrated its ability to overcome the challenges posed by the COVID-19 pandemic through united and decisive actions taken by countries and individuals. However, when it comes to the fight against climate change, the same level of urgency and determination has been noticeably lacking.
Anthropogenic climate change remains an ongoing threat, causing irreversible harm to our planet. Droughts, floods, famines, wildfires, melting ice caps, rising sea levels, deteriorating soil health, food shortages, and disruptions to ecosystems continue to jeopardise human existence. It is important to note that the most vulnerable in society will bear the brunt of these impacts.
Furthermore, air quality is deteriorating due to climate change, increasing our exposure to toxic wildfire smoke and ozone smog, which poses a particular risk to individuals with pre-existing health conditions.
Research led by Joshua Pearce highlights a grim projection: if global warming surpasses two degrees Celsius by 2100, approximately one billion people, primarily in poorer nations, could lose their lives. A staggering 40 percent of carbon emissions can be traced back to the oil and gas industry. This underscores the urgent need to address anthropogenic climate change, driven by human activities, rather than natural processes.
Over the past five decades, droughts, floods, famines, wildfires, sea level rise, ecosystem stressors, and reduced soil health have consistently threatened humanity’s very existence. These issues also contribute to food shortages and subsequent price hikes, exacerbating the global crisis.
The V20 group, comprised of Finance Ministers from Climate Vulnerable economies, advocates for increased financing and investment in climate-resilient infrastructure and mitigation efforts. The ongoing Africa Climate Summit, themed ‘Driving Green Growth & Climate Finance Solutions for Africa and the World’ from September 4 to 6, 2023, will play a crucial role in assessing National Determined Contributions (NDCs) of countries. The success of these contributions will determine the world’s ability to achieve the long-term goals of the Paris Agreement, aimed at creating a more sustainable climate.
According to the United Nations Global Compact on Refugees, climate change, environmental degradation, and disasters are increasingly intertwined with the drivers of refugee movements. Once again, the most resource-deprived communities, including those grappling with political instability and poverty, will suffer the most severe consequences.
Joshua Pearce’s research underscores a disturbing reality: if global warming reaches or exceeds two degrees Celsius by 2100, it’s likely that wealthier nations will bear responsibility for the deaths of approximately one billion individuals, primarily in impoverished regions. The oil and gas industry, which includes some of the world’s most profitable and influential businesses, is directly and indirectly accountable for over 40 percent of carbon emissions, impacting billions of people, particularly those in remote and resource-scarce communities.
Given these alarming findings, there is an urgent need for more advanced nations to provide global financing to address the current and future challenges posed by climate change. It is essential to intensify government, corporate and citizen efforts to expedite the decarbonisation of the global economy, with the goal of reducing projected human casualties.
V20: Paving the way for climate financing
Established in 2015, the Vulnerable Group (V20) comprising Finance Ministers from Climate Vulnerable economies has initiated significant efforts to secure public and private financing for climate action from diverse sources. The V20 group is advocating for increased funding and investment in climate-resilient infrastructure while striving to mitigate the consequences of climate change.
With a membership of 48 economies, including nations like Afghanistan, Bangladesh and Colombia, the V20 group highlighted a concerning trend in a press release earlier this year. In the past decade, climate vulnerability has cost V20 countries an additional US$62billion in interest payments alone, including US$40billion in extra interest payments on government debt. Projections suggest that future interest payments due to climate vulnerability could skyrocket to US$168billion over the next decade. These payments are separate from the direct economic losses suffered due to climate change, further limiting countries’ capacity to invest in climate change mitigation and adaptation measures.
The V20 research also reveals that a staggering 98 percent of nearly 1.5 billion people in V20 countries lack financial protection. Since the year 2000, V20 countries have incurred losses amounting to US$525billion due to climate impacts.
2023 Africa Climate Summit: A crucial turning point
As the world convenes in Nairobi, Kenya, for the Africa Climate Summit from September 4 to 6, 2023 under the theme ‘Driving Green Growth & Climate Finance Solutions for Africa and the World’, it is imperative that key stakeholders make resolute commitments in the fight against climate change.
This summit provides an invaluable opportunity to assess the National Determined Contributions (NDCs) of participating countries, reflecting their efforts to reduce national emissions and adapt to climate change impacts. These collective actions will determine whether the world can achieve the long-term objectives of the Paris Agreement, including global peaking of greenhouse gas emissions and subsequent rapid reductions.
Despite domestic efforts to mitigate climate change, there remains a stark contrast between intent and outcome. The devastating impact of climate change on both human and animal life continues to mount, underscoring the urgency of decisive global action.
The Africa Climate Summit must not become a routine event where eloquent policies are crafted, communiqués are issued, and the matter is closed until the next gathering. Just as the world rallied to combat the COVID-19 pandemic, we must unite with a single purpose to implement green growth policies. Without the necessary determination, climate financing will remain elusive, even if the V20 secures the required funding.
Efforts to address climate change through policy implementation should be pursued with utmost seriousness, and punitive measures should be established to deter or minimise anthropogenic climate disruptions. It is high time that global policy-makers on climate change translated words into action and provide essential support to countries vulnerable to climate change impacts. This summit should chart a clear course for financing countries affected by the actions of others in the realm of climate change.
Countries must adopt a coherent strategy that engages all key stakeholders in the fight against climate change. The role of the media in promoting environmental responsibility should also be explored. Citizens must assume their responsibility in protecting the environment.
The Government of Ghana has demonstrated commendable commitment through several measures, including prioritising the development and deployment of renewable energy sources, investing in renewable energy projects, and actively participating in afforestation and reforestation initiatives. The Greening Ghana Initiative and the Youth in Afforestation Programme have played a vital role in increasing vegetation cover. However, further support is needed for forest guards to effectively combat illegal logging.
Ghana’s establishment of a National Climate Change Policy reflects an integrated response to climate change, offering a clear pathway to addressing climate challenges while advancing toward a green economy. Despite these accomplishments, additional commitments are required from policy-makers to combat galamsey (illegal mining) and illegal logging effectively.
In conclusion, as the world assembles to discuss strategies for a greener planet, let us reflect on Joshua Pearce’s words: “The harm we are doing to children and future generations can increasingly be attributed to our actions”. Climate change is a global crisis that demands immediate and collective action. It is time for the world to come together not just in words, but in meaningful actions to safeguard our planet for generations to come.
