Building on the Copenhagen Accord, the United Nations Secretary’s
High-Level Advisory Group on Climate Change Finance (AGF) was set up in
February 2010 to identify how industrialised countries could mobilise
US$100 billion of resources per annum by 2020, to support
climate-resilient development in the developing world. The Group
consisted of 21 members, from the public and private sectors and from
the developed and developing worlds. It was co-chaired by the Meles
Zenawi, Prime Minister of Ethiopia, and Jens Stoltenberg, Prime Minister
of Norway. Working through most of 2010, it has analysed a wide range of
options for raising this money from both public and private sources.
This Special Issue brief outlines the implications of AGF report
recommendations for Africa.
Key messages include:
- The AGF report presents many opportunities for climate compatible
development in Africa – development that minimises the harm caused by
climate impacts while maximising the human development opportunities
presented by a low emissions, more resilient future.
- Africa must ensure it receives a sufficient proportion of public money
for climate finance, and that it is able to make good use of it.
- The AGF report emphasises the need to raise revenues in a way that
provides incentives for developed countries to reduce emissions. This
is welcome, but introduces risks concerning the reliability of these
revenues. These concerns can be relieved by robust, credible
commitments by developed countries to reduce emissions.
- Africa should participate fully in discussions to ensure that any
negative impacts from raising revenue are compensated. However, it
seems likely that these impacts will be small.
- Regulatory reforms that facilitate private-sector investment are
crucial to Africa’s development.
CDKN Special Issue, November 2010/A, 8 pp.
Regional implications of the AGF recommendations: Africa