Remarks delivered by President Akinwumi Adesina of the African Development Bank at the Ministerial Meeting on Climate Finance at the World Bank and IMF Annual Meeting in Lima, Peru, October 9, 2015

10/10/2015
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I wish to thank the Government of Peru and France for the invitation to make remarks at this important meeting.

Ladies and gentlemen, the world awaits us to act decisively on climate change. Keeping our world to below 2 degrees centigrade is non-negotiable.

The livelihoods of hundreds of millions of Africans are at risk. Smallholder farmers in the Sahel wonder why there are increasingly frequent droughts that decimate their crops and livestock. Fishermen in countries that depend on the blue economy, most of whom are fragile states, wonder why there are more frequent rise in sea level temperature and floods. The gods must be annoyed, they would think. But the reality is that while Africa contributes less than 2% of the total green house emissions, its populations suffer disproportionately from negative impacts of climate change.

Africa must be supported to adapt to climate change - and the polluter pays principle must apply. That is why the African Development Bank is deeply committed to ensuring that African countries have all it takes to address climate change.

Today, over 700 million Africans do not have access to clean cooking energy and depend on biomass, with over 600,000 dying each year from the effects of indoor pollution. This must change! Over 625 million Africans do not have access to electricity. Africa is known by the darkness of its cities and rural areas. Africa is tired of being in the dark. This must change!

That is why the African Development Bank has launched a New Deal on Energy for Africa to help light up and power Africa by 2025. The African Development Bank has worked closely with African Union, the African Ministerial Conference on the Environment and G-7 partners, to support the development of the Africa Renewable Energy Initiative. The Bank will help ensure that this African-driven initiative is successful.

Green growth is good for Africa. That is why the African Development Bank is pleased today to announce that it will triple its climate financing to reach $5 billion annually by 2020. COP 21 in Paris must be a great success. That success can only happen if the world strongly supports African countries massively on climate mitigation and adaptation.

Securing Africa, will secure our world.