Pan-African Alliance: Regional countries need $3 trillion to meet climate commitments

One of the main expectations of African countries at the COP29 climate conference in Baku is determining a new collective, quantifiable financial goal, Charles Peter Mwangi Nyambura, a representative of the Pan-African Climate Justice Alliance, told journalists on the sidelines of the conference's third day.

Report quotes him as saying the focus on the new financial goal is due to the African continent experiencing serious consequences of climate change.

"These serious consequences lead to loss of life and livelihoods. Adaptation is extremely necessary on the continent, so we are asking for resources to be allocated for it, as our governments spend 5-9% of their GDP on financing adaptation measures. External resources, including nationally determined contributions, are needed to implement our development programs in particular," he noted.

The alliance representative emphasized that $3 trillion is required to implement Nationally Determined Contributions (NDCs) on the African continent.

"These funds are expected to come from external sources since own resources are insufficient. We have requested these resources. So, Africa is seeking $1.3 trillion to achieve the new collective financing goal. This is what we are striving for, and this is what brought us here. We declare that adaptation is the main priority for the continent," he concluded.