Over 43 Million Africans Face Extreme Poverty Due to Climate Change By 2030
The World Bank has warned that over 43 million Africans face extreme poverty by 2030 due to the current level of climate adaptation funding.
World Bank Director of climate change, James Close says 100 million more people of which 43 million Africans will be plunged into poverty by 2030 if climate change is not addressed.
Speaking at the Africa Carbon Forum in Kigali that is also discussing sources of climate finance and how to access them, Close says this could happen due to lower crop yields, higher food prices and negative health impacts from climate change if no coping mechanisms are put in place.
He said millions of Africans could be hurt by further warming that will cause disastrous consequences for the region in the form of heat extremes, increased risk of severe drought, crop failures every two years.
The Bank forecasts a 20% reduction in major food crop yields by the end of the century with up to 18 million people affected by floods every year.
To combat the huge financing gap, the World Bank prepared the Africa Climate Business Plan as an important step in mobilizing climate finance to fast-track Africa’s climate adaptation needs while reducing greenhouse emissions.
The Bank says that the current level of climate adaptation funding in Africa is insufficient at about $3 billion per year and is not rising at the rate necessary to meet future needs. Close told the participants at the Africa Carbon Forum that the World Bank plan estimates a need of $19bn from different sources by 2020 as finance to help Africa adapt to climate change effects.