Senegal paves the way for a resilient recovery in Africa
Dakar, Senegal, May 16, 2022 – Senegal is at the forefront of the global climate challenge and will play a critical role in Africa's response, said Patrick Verkooijen, CEO of the Global Center for Adaptation (GCA), in his closing speech in Dakar, after meeting President Macky Sall on Friday.
Reducing climate finance risks fueling even greater conflict. According to information provided by the World Bank, internal climate migration could reach up to 1 million people in Senegal by 2050.
In the face of these risks, President Macky Sall and GCA CEO Patrick Verkooijen have joined forces to mobilize $1 billion in climate finance for Senegal under the Accelerating Africa Adaptation Program (AAAP), developed by and for Africans. Aligned with the Emerging Senegal Plan (PSE), the AAAP places youth empowerment for entrepreneurship and job creation at the center of adaptation.
“Neglecting climate change is a very short-sighted act. Bold adaptation action is the best strategy to tackle the root cause of other crises. shortages threaten, the most urgent need is for funds that improve the ability of climate-vulnerable countries to feed themselves,” said President Macky Sall.
"If there was ever a time to strengthen adaptation in Senegal and on the continent, it's now."
The high-level meeting in Dakar marked a key milestone ahead of the African Adaptation Finance Forum, which will be co-hosted by President Macky Sall, CEO Patrick Verkooijen and AfDB President Akinwumi Adesina. The "Leaders' Forum, scheduled for September 5 in the Netherlands, will bring together African leaders and their partners from around the world to realize the vision of the AAAP and the commitments made in Glasgow to double funding for adaptation.
“Africa is battling multiple crises on multiple fronts, the economic fallout from COVID-19, climate change and an energy and food emergency, triggered by the war in Ukraine. Senegal is not spared: extreme events linked water in Senegal are already costing the country more than 10% of GDP each year, undermining the country's position as a regional economic powerhouse," said Verkooijen.
"Africa must harness climate-resilient solutions quickly and at scale. It is essential that global partners deliver on their Glasgow pledges on climate finance for Africa."
The AAAP is a joint initiative of the African Development Bank (AfDB) and the GCA, endorsed by the African Union in 2021, with the objective of mobilizing $25 billion for adaptation in Africa by COP27 . The AAAP upstream financing mechanism has already enabled $3 billion in adaptation investments in Africa since its inception in 2021.