Access climate finance should be made easier for developing countries – Minister
The Minister of Environment, Forestry and Tourism, Pohamba ShifetaNamibia called on negotiators at the COP26 and particularly the developed countries to provide clarity on how they will ensure that a minimum of US100 billion in climate finance is achieved by 2024.
Namibia supports a scaled-up financial goal that is based on the needs of developing countries to support the implementation of their Nationally Determined Contributions (NDC) in order to reach a net-zero emissions trajectory as soon as possible while striking a balance of the allocation between adaptation and mitigation through a significant increase of grant-based, not loans to burden developing countries, he said during a COP26 High-Level Ministerial Dialogue on Adaptation Action this week.
“Processes to access this finance should be made easier for developing countries to access,” he said, adding that Namibia’s NDC as well as the adaptation communication are very elaborate on the adaptation interventions that we have set ourselves to achieve.
Shifeta said the goals can only be realized if trillions of dollars are channelled to adaptation to implement Nature-based climate solutions, or the protection, restoration and improved management of ecosystems that can contribute 37% of the required emissions reductions needed to reach Paris Agreement targets.
According to Shifeta, Namibia is already stressed from different misfortunes and different projected climatic events will create considerable negative social and economic impacts.
“The country’s poor and rural populations will be the most venerable because they are the most reliant heavily on natural resources,” he said.