Developing countries are seeking money to recover from ongoing climate disasters.
What are Africa’s priorities at the COP27 in Sharm El-Sheikh, Egypt?
For the African region COP27 is about advancing the implementation adaptation and mitigation efforts and delivery of finance to enhance implementation.
US$ 100 billion goal
The goal was set in 2009, and reaffirmed and extended in 2015, for developed countries to mobilise US$100 billion a year by 2020 and through 2025, to address the needs of developing countries in the context of meaningful mitigation actions and transparency on implementation.
How is that going? Following the call by developing countries that significant acceleration in adaptation finance is needed, parties at the COP27 have noted that developed countries won’t be able to meet the US$100 billion goal annual pledge.
African countries have continued to call on developed country parties to meet their obligation and work with other parties to ensure the swift implementation of the climate finance delivery plan to avert impending global climate catastrophe.