Climate finance: developed countries want Africa to turn to its private sector

Abstract

The issue of funding for the fight against climate change impacts has moved into high gear at the ongoing climate talks (COP19) in Warsaw. While African negotiators are asking developed countries to safe the green climate fund through substantial contributions the latter say African countries should turn towards their respective private sector. One of the main objectives of the COP19, is to ensure that the issue of funding for climate change is clarified, to lay the groundwork for an agreement under the auspices of climate justice. Climate change is already costing fortunes to rural populations, especially communities vulnerable to this phenomenon. It is therefore important to mobilize public funding additional to official development assistance, including financing for adaptation for household farming in the South.