THE AFRICA CLIMATE RESILIENT INVESTMENT FACILITY AFRI-RES (TRAINING PACKAGES I & II)
Announcement in Brief
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Programme Rationale
Africa has huge investment deficits to close in critical sectors, including energy, agriculture, water, transport, cities, and ecosystems. These sectors are central Africa’s economic development but are also very sensitive climate change impacts, which are already costing African countries on average 5 percent of GDP per year. Intra-seasonal and longer timescale variations of rainfall, temperature trends and climate extremes, together with the growing demand for food and energy, put additional pressures on Africa’s production systems and natural resources management.
Objectives
The Paris Agreement, based on voluntary national commitments to reduce emissions, aims at keeping global temperature increase below 2 degrees Celsius above preindustrial level and to pursue efforts to limit the temperature increase to 1.5 °C by reducing global emissions by 45 percent by 2030, reaching carbon neutrality by 2050. While this objective is possible with stringent measures by all countries, global commitments, especially by many developed countries, at COP26 in the Glasgow Climate Pact, fall far short of the emission reductions needed to meet the goal of the Paris Agreement. It is therefore very important that the substantial investments needed to close Africa’s development gaps are made in ways that build resilience to climate change.
