Africa’s GDP Impact from Climate Change
Economic Toll of Climate Crisis on Africa
Stiell Highlights Climate Change Costs for Africa
BY SHEKWOPEYELO
Simon Stiell, Executive Secretary of the UNFCCC, has highlighted that Africa is experiencing a 5% GDP loss due to climate change. In his statement on September 5, 2024, Stiell emphasized that addressing the Africa climate change GDP loss is crucial for economic stability and resilience. He described climate action as a significant economic opportunity for the continent, which is warming faster than the global average..
Stiell pointed out that Africa is warming faster than the global average, with traditional cooking methods contributing significantly to greenhouse gas emissions. These emissions cause approximately 3 million premature deaths annually and demand $4 billion per year to address.
“Climate action is crucial for Africa to overcome centuries of exploitation and foster economic growth,” Stiell said. He noted that the climate crisis exacerbates food insecurity, drives desertification, and disrupts supply chains, intensifying economic instability.
Stiell criticized the low investment in Africa’s climate solutions, with only $2.6 billion of the $400 billion spent on clean energy last year directed to the continent. He stressed the need for a fivefold increase in renewable energy investment and greater international climate finance support.
At COP29 in Baku, Stiell calls for new international climate finance goals, operationalizing the Loss and Damage Fund, and closing the adaptation finance gap. He urges global leaders to enhance support to address Africa’s climate and economic challenges effectively.
