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Climate change: Lack of finance could leave Earth at risk

Financial restrictions on nature-based solutions could be the downfall in protecting Earth from the impact of climate change. Picture: Henk Kruger/ANA/African News Agency

Financial restrictions on nature-based solutions could be the downfall in protecting Earth from the impact of climate change. Picture: Henk Kruger/ANA/African News Agency

Published Nov 5, 2020

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Cape Town - Financial restrictions on nature-based solutions could be the downfall in protecting Earth from the impact of climate change.

This was said at the opening of the ICLEI Africa’s 5th Local Climate Solutions for Africa (LoCS4Africa) Congress that will focus on enabling the flow of finance to support climate action. ICLEI Local Governments for Sustainability is hosting the conference, which began on Thursday until November 12.

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Leaders and experts in Africa and across the globe gathered virtually to discuss the first topic, which was how financial resources can allow local governments to integrate nature-based solutions into their local climate plans.

UN Framework Convention on Climate Change executive secretary Ovais Sarmad said: “As nations rush to respond to the immediate crisis of the pandemic, they must recognise the impact of climate change.

“Virtual engagements like this one are crucial to keep the conversation on climate action intact, the involvement of different cities and adaptation methods are crucial.”

He said investment in an energy sustainable system fit for the 21st century could allow for more jobs and increase gross domestic product growth.

Cape Town and Joburg are already planning to source their own power and to shift towards renewable energy.

“Climate decisions are only just if everyone benefits through financial aid and capacity building. A just transition from fossil fuel to green is the key element for a healthier and greener future,” he said.

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According to ICLEI Africa, Africa is experiencing some of the worst impacts, however only 3% of global climate finance and investments flow into sub-Saharan Africa.

Cape Argus

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