At the recent Africa Climate Summit in Nairobi, Akinwumi Adesina emphasized the necessity of recalibrating Africa’s GDP to reflect the continent’s vast natural resources and carbon sequestration capacity. He underscored the significant role of the Congo forest basin, the largest carbon mass globally, advocating for the creation of Africa’s own carbon markets to convert immense carbon sinks into substantial wealth sources.
Adesina, also the African Development Bank’s president, delineated the bank’s upcoming strategies to counter climate change in Africa. These encompass a commitment of $25 billion towards climate finance by 2025 and launching the most substantial global climate adaptation program with the Global Centre on Adaptation. The bank is spearheading a $20 billion initiative to tap into solar power, aiming to electrify 250 million people, alongside a $1 billion fund for youth-led endeavors and a $72 billion scheme to bolster food security in the coming five years.
Link to original article Akinwumi Adesina: Why Africa’s GDP must be revalued
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