Private sector response to climate change
Author(s)/Corporate Author (s)United Nations. Economic Commission for Africa;
African Union Commission;
African Development Bank;
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There is strong evidence from the scientific community that climate change will have a disproportionately major effect on socio-economic development in Africa. The average cost of climate change to African economies could be equivalent to 1.5 to 3 per cent of GDP by 2030 and rising. Climate change is not only a threat to the achievement of sustainable development and poverty reduction in the continent, it has the potential to undo the modest gains the continent has achieved towards attaining the Millennium Development Goals (MDGs). Responding to climate change requires the participation of all stakeholders, including governments and the private sector.