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Nana Addo to COP27: Redeem the $100 billion you promised us on climate change.

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President Nana Addo Dankwa Akufo-Addo has called climate change a “global emergency” and urged the developed world to fulfill a thirteen (13) year-old pledge to make $100 billion available annually to assist developing countries in combating the scourge of climate change.

President Akufo-Addo delivered Ghana’s national statement at the ongoing United Nations Climate Change Conference, also known as the Conference of the Parties of the UNFCCC, or COP27, on Tuesday, November 8, 2022, bemoaning the fact that climate adaptation costs are currently outstripping current international public finance flows.

According to the President, “we must, as a matter of urgency, mobilize and scale up adaptation finance inflows, to ensure that vulnerable countries are able to meet their adaptation needs.”

He continued: “It is critical, in this regard, that the developed world makes good its long-delayed pledge to mobilize and make available one hundred billion dollars ($100 billion) annually to the poorer countries to assist in the fight against climate change, and commit, as agreed at COP 26 in Glasgow, to doubling resources for adaptation.”

It will be remembered that thirteen (13) years ago, at a United Nations climate summit in Copenhagen, the world’s rich nations promised to channel US$100 billion per year to developing countries by 2020, to assist them in adapting to climate change and mitigating further temperature rises.

President Akufo-Addo stated that extreme weather events such as heavy rain and flooding, prolonged drought, and heat waves are occurring all over the world, in both the developed and developing worlds.

“Climate change is a global emergency, and Ghana calls on all parties to act with equity and a sense of responsibility,” he said.

The President emphasized that Africa, for its part, must commit to resolving the issue of climate change by implementing ambitious measures within her reach.

He stated that because of Africa’s vast land, it has the greatest potential to help decarbonize the world by absorbing carbon dioxide through regenerative agriculture, which uses fewer fertilizers, and reforestation with high biodiversity content.

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