Public Management

Climate: COP15 kicks off in Côte d’Ivoire

Climate: COP15 kicks off in Côte d’Ivoire
Monday, 09 May 2022 18:38

During the COP14 in India, in 2019, countries renewed their commitment to achieving land degradation neutrality by 2030. Three years later, they are meeting again to accelerate the process. 

Today, Monday, May 9, the fifteenth session of the Conference of the Parties (COP15) of the United Nations Convention to Combat Desertification (UNCCD) was officially kicked off in Abidjan, Côte d’Ivoire. Representatives from 196 countries are expected at the event to take stock of global actions against desert encroachment and make commitments for the coming years. 

Several African Heads of State will be present at the conference, which is different from the 2022 United Nations Climate Change Conference (COP 27). They include DRC president Félix Tshisekedi, Togo’s Faure  Gnassingbé and Niger’s Mohamed Bazoum. 

 The most important part of the conference will undoubtedly be the 10-days negotiation between participants to define common strategies to combat desertification while taking into account ground realities. 

According to the UN, humanity has altered 70% of the earth’s lands, while 40% is already degraded. It, therefore, accelerates climate change, leading to drought, floods, hunger, and biodiversity loss.  

To address the situation, countries committed to restoring 1 billion hectares of degraded lands. US$1.6 trillion is needed for the task. However, funds committed are not released even though investments in fossil fuels and pollution are still sustained. For example, the United Nations estimates that US$700 billion is currently invested yearly in fossil fuel and agricultural subsidies globally. Meaning that within 10 years, about US$7 trillion will be used to subsidize fossil fuel and agriculture production. 

During the COP15, African countries, which are the most exposed to desertification, will discuss major climate projects and the contributions they expect from developed countries.   They will notably discuss the Great Green Wall that garnered US$10 billion funding pledges last year and the “Abidjan Legacy Program,” presented as an ambitious solution to restore degraded lands. 

"COP15 is focused on two key themes: restoration and drought mitigation. The Conference theme is: ‘Land. Life. Legacy: From scarcity to prosperity'. This is a call to action to ensure land, the lifeline on this planet, continues to benefit present and future generations. (...) COP15 actions will aim to strengthen the policies, science, capacity-building, and practical implementation of the Convention, including through working with new partners, such as youth and the private sector, and developing new and innovative mechanisms to mobilize the resources needed," the UNCCD informs in its press kit. 

Moutiou Adjibi Nourou

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Cameroon Treasury bill demand rises to 84.84% in January Rate surpasses CEMAC regional average of 69.04% Average yield falls to 6.87%, easing...
Verdant Capital structured a $5 million equity placement for Polysmart Packaging Group. The funds will expand food-grade recycled PET production...
Askadar Housmane Sanou has been appointed to lead Burkina Faso’s state investment fund, CDI-BF. The fund, created in 2023, is central to...
Central Bank of Nigeria said 20 commercial banks have met new minimum capital requirements, with the deadline set for March 31, 2026. Banks have...
Most Read
01

Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agend...

Senegal Launches $360 Million Regional Bond Sale
02

Amazon begins talks with Kenya on low-Earth orbit satellite broadband Kenya’s digital market ...

Amazon Turns to Kenya as Its Next Low-Orbit Satellite Internet Bet in Africa
03

Algeria’s NESDA and the Algerian‑Saudi Investment Company sign cooperation deal focused on researc...

Algeria’s NESDA, ASICOM Sign SME Investment Deal; Funding Details Unspecified
04

DRC seeks ITC support for local battery value chains Musompo SEZ targets $2 billion private ...

DRC seeks ITC support to advance battery mineral value chains
05

BOAD says sovereign bond purchases are liquidity management Member states accelerate borrow...

BOAD Defends Sovereign Bond Purchases as Liquidity Management, Not Budget Support
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.