Climate Change

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29-May-2009

AfDB supports Clean Technology/Energy Investments

An Equity Investment of ZAR 100 Million for the Evolution One Fund Tunis – 28 May 2009- The Board of Directors of the African Development Bank Group (AfDB) approved a ZAR 100 Million equity investment in the Evolution One Fund, the first specialized private equity fund focused on the acceleration and deployment of clean energy and sustainable technologies across southern Africa to mitigate the effects of climate change on the Continent. The Evolution One Fund will make equity and equity-related investments in sustainable projects and companies with the aim of not only achieving carbon...
22-May-2009

Bringing about a common African platform

Two of the MDG goals -- economic growth and poverty reduction – recall two critical situations: the financial crisis and the environmental situation.   The Third Ministerial Conference on Financing for Development is therefore addressing these twin issues: adapting to climate change and making the resources available to do so effectively.  African economies rely heavily on agriculture.  The continent contributes very little to global greenhouse gas emissions, but is by the same token highly vulnerable to climate change.  Therefore, while mitigation and adaptation to...
20-May-2009

Third African Ministerial Conference on Financing for Development Addresses Climate Change

The Third African Ministerial Conference on Financing for Development begins on May 21 and concludes on May 22, 2009 in Kigali, Rwanda.  Funded by the AfDB, DFID and UNECA and hosted by the Government of Rwanda, the conference is a milestone.  It brings together ministers of the environment and ministers of finance to  identify additional investments and financial flows to help the continent meet the challenge of climate change mitigation and adaptation. In addition, an African platform will be adopted at the conference to ensure that the continent benefits more from financial...
30-Apr-2009

Bank Group Climate Risk Management and Adaptation Strategy

Climate change poses serious threats to sustained economic growth and poverty reduction, the quality of life, and political stability in the world. Two reports: the 2007 Fourth Assessment Report (AR4) of the Intergovernmental Panel on Climate Change (IPCC)1 and the Stern Review2 have shed light on the phenomenon and the risks and challenges that it presents. IPCC presented empirical evidence linking human socio-economic activities to the emission of greenhouse gases (GHGs), and linking the latter to climate change. The Stern Review presented a comprehensive cost-benefit analysis of concerted...
20-Jan-2009

“We need a long-lasting solution to the crisis,” Says AfDB President to Diplomats Accredited to Tunisia

Tunis, January 20, 2009 - In his New Year address to ambassadors of Bank Group member countries accredited to Tunisia as well as representatives of international organizations, the African Development Bank (AfDB) Group President, Donald Kaberuka, on Tuesday, January 20, 2009, in Tunis said Africa needed “a long-lasting solution to the crisis”.  We must ensure that the MDGs are reached, as well as the Copenhagen objectives on climate change and the Declarations of Paris, Accra and Doha on development aid”.   Mr. Kaberuka said that the Bank was not affected by the international...
06-Nov-2008

MDBs Discuss Climate Investment Fund Activities-Interview with Mr. Yogesh Vyas, Lead Environmentalist, OIVP

Lead Environmentalist, Yogesh Vyas, represented the Bank at the organizational meetings of the Clean Technology Trust Fund (CTF) Committee sessions which took place from 13- 17 October 2008 in Washington D.C, USA. "The CIF (Climate Investment Fund) is poised to generate groundbreaking lessons and new knowledge at an unprecedented scale…," he says. In an interview, Mr. Vyas spoke at length on the outcomes of the meetings and how the Bank could help its Regional Member Countries benefit from the US$ 6.1 billion prospective trust fund. His views: Question: What are the CIFs...
16-Jun-2008

Launch of the Congo Basin Forest Fund - Keynote Address by AfDB President Donald Kaberuka

Event: Launching Ceremony of the Congo Basin Forest Fund We, at the AfDB, are pleased to play the role expected of financial custodian of this basket fund for the world’s second largest forest, not only home to millions of people, but also biodiversity including over 10,000 plant species. The survival of this delicate ecosystem is critical for us all and I can only say that at the AfDB we take such endeavour seriously. Everyone knows Africa emits the least greenhouse gases and suffers the most. Forest loss and degradation of the Basin would add more carbon emissions to the atmosphere...
13-May-2008

Managing New Threats to Sustain Momentum - AfDB President Donald Kaberuka

Event: 2008 AfDB Annual Meetings Opening Session This Assembly, and its organs, have a packed agenda. We have, important statutory matters to consider; beginning with a review of the Bank’s operational and financial performance as well as its delivery. But this is also a privileged moment to step back, and assess the economic condition of the continent and determine what together we can do, to accelerate progress on the ground. At my first Annual Meeting in Ouagadougou, May 2006, I indicated to you my intention to set up a High Level Panel of Eminent Persons to help us with an...
04-Apr-2008

Interview with Mr. Thomas Hurley, AfDB Human Development Director

"Poor developing countries are most vulnerable to climate change"   The AfDB will strengthen support to its regional member countries to cope with the threats posed by climate change . It will further strengthen key features of their public health systems such as the control of neglected tropical diseases, primary health care (including clean water, environment and sanitation) and enhance women’s and vulnerable groups’ welfare, says the AfDB Human Development Director, Mr. Thomas Hurley, in an interview on the occasion of the celebration of World Health Day. Question: What are...
13-Dec-2007

Record Level of Support for the African Development Fund (ADF)

London, 11 December 2007 – Representatives from donor countries agreed today to a record level of support for the African Development Fund (ADF), the soft window of the African Development Bank.  Over the next three years (2008-2010), the total resources available to the ADF will reach US$ 8.9 billion, an increase of 52% over the 2005-2007 period. Representatives endorsed the focus of the ADF on infrastructure, governance and regional integration, major constraints to growth and poverty reduction in Africa and areas where the ADF has extensive experience and a good track record....
09-Dec-2007

Working Paper 89 - Come Rain or Shine - Integrating Climate Risk Management into African Development Bank Operations

Climate change Climate change is happening now, and further changes during the next decades are inevitable (IPCC, 2007a). During the last century, the global climate warmed by about 0.7°C. At the same time, there were distinct changes in rainfall patterns, an increase in both frequency and severity of extreme weather events, and a rise in sea levels. The impacts of these changes are already being felt, and will intensify as further changes take place. Another 2–4°C rise is projected for the current century, mostly as a result of greenhouse gases that have already been emitted. This means...
04-Oct-2007

The African Economy Fifty Years After Independence - AfDB President Donald Kaberuka

Event: Bank of Uganda 2007 Joseph Mubiru Memorial Lecture In 1966, at only 37 years of age, Joseph Mubiru ascended to the heavy responsibilities to lead the Bank of Uganda. What is not widely known is that a few years earlier he had been instrumental in the work of the “Committee of Nine”, tasked by African leaders to establish the African Development Bank in 1964. Governor Mubiru laid strong foundations of a Central Bank, which today continues to preserve and, indeed, enhance the very high standards in the conduct of monetary policy and the regulation of the financial sector. These are...
14-Mar-2007

Development banks urge partnership with private sector on climate change and set up working group on Fragile States

Multilateral Development Banks urged public and private institutions to work together more closely to meet future energy needs and combat climate change.  "Only in the context of a genuine public-private partnership can we create the conditions for investments that will meet the world’s demands for energy in an environmentally sustainable way", the heads of the MDBs and the International Monetary Fund said on Tuesday. The heads of the MDBs – the African Development Bank, the Asian Development Bank, the Inter-American Development Bank, the European Bank for Reconstruction and...
29-Jan-2007

AfDB Participates in World Economic Forum 2007

The Bank last week participated in the World Economic Forum in Davos, Switzerland. The forum brought together many global economic and political leaders and focused on issues such as increased competition over access to oil and natural gas, climate change, the fight against terrorism, globalization, trade and Africa.  Representing the Bank, President Donald Kaberuka, participated in a brainstorming session on the Global Health Initiative that sought ways to mobilize private businesses in the fight against HIV/AIDS.  The meeting, which was designed for chief executives and...
01-Jan-2000

Clean Energy Investment Framework for Africa: Role of the AfDB

Climate change has emerged as an increasingly serious threat to sustained economic growth and poverty reduction, the quality of life, and political stability in the world. In the last two years, two compelling reports – the 2007 Fourth Assessment Report (AR4) of the Intergovernmental Panel on Climate Change (IPCC) and the Stern Review – have shed light on the phenomenon, its most likely driving factors, and the risks and challenges that it presents. AR4 presents consensus empirical evidence of near-certain cause-and-effect linkages between human socio-economic activities and greenhouse gases...