Africa roots for expedition of loss & damage fund at UNGA

As world leaders gather in New York this week for the annual United Nations General Assembly, key issues came to the fore around activating a loss and damage fund to cushion countries heavily impacted by the adverse effects of climate change. Africa has been at the forefront of advocating for a more robust financial architecture to address the pressing needs of the continent in the face of climate change. In a recent interview with CNBC Africa, Ibrahima Chiekh Diong, Assistant Secretary General & Director General of the African Risk Capacity Group, shared insights on the critical importance of mobilizing resources to support African nations in building resilience and adapting to the impacts of climate change. The key theme that emerged from the discussion was the urgent need for coordination, accountability, and reform in global financial systems to ensure that commitments are fulfilled and resources are effectively utilized. Diong emphasized the necessity of honoring past commitments, such as the $100 billion pledge by industrialized nations to support climate adaptation in Africa, while also calling for a focus on early warning systems, contingency planning, and innovative financing mechanisms to enhance Africa's capacity to respond to extreme weather events. With COP28 on the horizon, Diong underscored the significance of maintaining a unified African voice and pushing for tangible outcomes in climate finance discussions. The interview shed light on the challenges and opportunities facing Africa in the realm of climate finance, highlighting the human dimension of loss and damage that underscores the need for swift and impactful action.