Former Prime Minister Raila Odinga has called on wealthy nations to fulfill their $100 billion-a-year climate finance pledge made over a decade ago to assist developing countries in mitigating the effects of climate change. Speaking at the African Green Climate Finances National Designated Authorities Network (AFDAN) and Building Climate Resilience of the Urban Poor (BCRUP) meeting in Nairobi, Odinga emphasized that access to climate finance remains a significant challenge for African countries.
Odinga, who is a contender for the African Union Commission (AUC) chairmanship in 2024, underscored the urgency of addressing the adverse effects of climate change, which disproportionately impact vulnerable populations in Africa, particularly the poor in rural and urban areas. He noted that while climate finance has been a recurring topic at various international conferences, the promised funds have not materialized as expected.
“The continent continues to face challenges associated with adverse climate change effects and disasters. In such circumstances, the vulnerable segment of our population bears the brunt of climate change, particularly the poor communities in rural and urban Africa,” Odinga stated. He added, “Whereas climate finance has been here with us, from one conference of the parties to the other, partners are reminded to respect their commitments and provide the $100 billion promised to assist developing countries to cope with the challenge of climate change.”
At the 15th Conference of Parties (COP15) of the United Nations Framework Convention on Climate Change (UNFCCC) held in Copenhagen in 2009, developed countries pledged to mobilize $100 billion annually by 2020 to help poorer nations deal with the increasing climate change-induced disasters. However, this commitment was not met by the 2020 deadline, leading to frustrations among the developing nations most affected by climate change.
Odinga expressed his disappointment with the failure of wealthy countries to deliver on their promises, noting that Africa still faces significant hurdles in accessing climate finance from established sources such as the Green Climate Fund (GCF), Global Environment Facility (GEF), Least Developed Countries Fund (LDCF), Adaptation Fund (AF), Climate Investment Funds (CIF), and bilateral and multilateral development partners.
“These are all well-established avenues for accessing climate finance, but currently, Africa can only access 4 percent—way below impactful finance,” Odinga lamented. He urged developed countries to play their part and support nations that contribute the least to global greenhouse gas emissions but suffer the most from the consequences.
A report released by the Organisation for Economic Co-operation and Development (OECD) in November 2023 revealed that the $100 billion-a-year target was eventually met in 2022, albeit belatedly. However, the OECD raised concerns that this funding has largely failed to mobilize the substantial private capital needed to bridge the climate investment gap, with most of the funds being public finance, a significant portion of which comes in the form of loans.
Kenya, like many other African nations, has already felt the devastating impact of climate change. This year’s long-rains season from March to May resulted in deadly floods, with an estimated 291 people losing their lives and 278,380 others displaced, according to the National Disaster Operations Centre (NDOC). The floods highlighted the urgent need for effective climate adaptation and mitigation strategies in the country.
A World Bank report from the previous year warned that Kenya could lose up to 7.25 percent of its Gross Domestic Product (GDP) by 2050 if it does not take strong action to adapt to climate change and mitigate its effects. The report emphasized the importance of securing adequate climate finance to support these efforts.
As African nations continue to grapple with the consequences of climate change, Odinga’s call for the fulfillment of climate finance commitments serves as a reminder to the international community of the urgent need to act. Without the promised support, the continent risks further economic and social instability, exacerbating the already severe impacts of climate change.
