Stop Funding Fossil Fuel Projects in Africa – Environmental Coalition at AfDB

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A coalition of African NGOs focused on climate change has called on the African Development Bank (AfDB) to stop providing financial and technical support for fossil fuels in Africa.

“Establish an immediate ban on all new fossil fuel projects and publish a roadmap for phasing out all funding for fossil fuel development to advance the just transition in line with the Paris Agreement,” he said. he declared in a document consulted by Citi News.

The group instructed the development finance institution to “prioritize the development and implementation of a fossil fuel finance exclusion policy which states that the bank will not finance, provide financial services or capacity support to any coal, gas or oil project or related carbon-intensive infrastructure project on the African continent after 2022”.

The energy-focused proposal; agriculture, forestry, lands and ecosystems; and climate finance is the result of consultative processes with CSOs across Africa that seek to promote human rights, sustainable development and effective partnership.

Regarding the energy sector, the group called on the AfDB to “commit to 2022 as the target date for the publication of a roadmap for the Paris alignment target of 1.5°C for the reduction of emissions, to be implemented by 2023-2025″, as this will make the AfDB “a leader”. and will go a long way in influencing other African development finance institutions to raise their ambition.

He further called on the AfDB to “expand its level of support by increasing Africa’s resilience and ambition to leave fossil fuels and industrial/large-scale livestock farming in the past, and move on in the era of 100% renewable energies and inclusive sustainable development. ”

In agriculture, forestry, land and ecosystem development, the group, among a list of actions, proposed an “established green framework that recognizes factors contributing to biodiversity loss as well as destruction of ecosystems and vital carbon sinks before identifying the solutions it intends to invest in.

“The policy should guide managed and equitable disposal, taking into account the principles of equality and justice for those primarily affected in the timeframe necessary to achieve the goals of the Paris Agreement,” he said.

In the area of ​​climate finance, he proposed that the AfDB should “reorient investment portfolios already linked to agriculture-related investments to support 100% sustainable agricultural approaches” as well as “support investments in climate-based solutions”. nature more suited to the geopolitical architecture of Africa”.

The development finance institution should “work with and engage the private sector to develop and engage in supply chains and zero deforestation policies that are beneficial and mutually beneficial to all stakeholders.”

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