What does Climate Finance mean to us in the Global South?

Climate finance can help unlock a new realm of funding in the Global South by providing the necessary financial resources to help us transition to low-carbon economies and adapt to the impacts of climate change.

The Global South, which includes many developing countries, is often disproportionately impacted by climate change due to our vulnerability to extreme weather events, limited resources, and inadequate infrastructure.

Africa only contributes between 3-4 % to global greenhouse gas emissions. Yet, Africa is considered to be one of the continents most at risk from climate change due to its high levels of poverty, dependence on rain-fed agriculture, and vulnerability to droughts, floods, and other extreme weather events.

Climate change has and is expected to exacerbate further these challenges, leading to greater food insecurity, water scarcity, and displacement of populations.

Climate finance will help to do the following:

1. Support Nature-Based Solutions, which include forest conservation. Climate finance can help fund forest conservation projects, such as REDD, which can help reduce deforestation and protect biodiversity. While providing alternative, sustainable, and beneficial revenue streams for the communities that are otherwise reliant on the forests.
2. Promote sustainable agriculture practices, which include agroforestry and conservation farming, to help reduce greenhouse gas emissions and improve food security.
3. Support renewable energy projects, by helping to fund renewable energy projects, such as solar, which can reduce the dependency on fossil fuels and provide access to clean energy.
4. Invest in climate-resilient infrastructure: such as building sea walls and improving water management systems, which can help countries adapt to the impacts of climate change.

Climate finance drives the resources and tools to reduce poverty, improve livelihoods, and promote sustainable development.