$50B African climate finance initiative- preparing to lead after September Summit- Daily Africa video n transcript at Heating Planet blog

The continent will no longer simply wait for external aid. Instead, it will chart its own path. Climate change is hitting Africa hard. Rising temperatures, prolonged droughts, devastating floods, and unpredictable storms are now regular events. From the Sahel to southern Africa, millions of people face food insecurity and water shortages linked to these climate shifts. Despite this, Africa contributes only about 3 to 4% of global carbon emissions. Yet the continent carries some of the heaviest burdens. WATCH-report Sep 14 transcript below "Africa SHOCKS the World: $50 Billion Climate Revolution Announced in Addis Ababa" A major announcement has just come out 0:02 of Adisababa. 0:04 African leaders say they will mobilize 0:06 50 billion US dollars every year to 0:09 tackle climate change across the 0:11 continent. The pledge was made at the 0:14 Africa Climate Summit where leaders, 0:17 scientists, and financiers 0:20 gathered to chart a new course for 0:22 Africa's response to the climate crisis. 0:26 Climate change is hitting Africa hard. 0:28 Rising temperatures, prolonged droughts, 0:32 devastating floods, and unpredictable 0:34 storms are now regular events. From the 0:38 Sahel to southern Africa, millions of 0:41 people face food insecurity and water 0:44 shortages linked to these climate 0:46 shifts. Despite this, Africa contributes 0:50 only about 3 to 4% of global carbon 0:53 emissions. 0:55 Yet the continent carries some of the 0:57 heaviest burdens. For years, African 1:01 nations have argued that wealthy 1:03 industrialized countries should provide 1:05 more financial support. Progress has 1:08 been slow. And so leaders meeting in 1:12 Addis Ababa this week put forward a new 1:15 message. Africa will not wait. It will 1:18 take the lead. The host, Ethiopian Prime 1:22 Minister Abi Ahmed, formally unveiled 1:25 two major initiatives, the Africa 1:28 Climate Innovation Compact and the 1:30 African Climate Facility. Together, they 1:33 aim to raise and channel $50 billion 1:37 every year toward climate action. The 1:40 goal is ambitious to support $1,000 1:43 homegrown climate solutions by the year 1:47 2030. 1:48 These could include renewable energy 1:51 projects, sustainable agriculture 1:54 programs, water conservation efforts, 1:57 and new technologies to help communities 2:00 adapt. 2:01 During the summit, African Union leaders 2:04 emphasized the importance of fairness in 2:07 global climate finance. They argued that 2:11 support for Africa should be 2:13 significant, predictable, and just, 2:17 highlighting the risks of debt and 2:19 calling for more grant-based funding. 2:22 Kenya's President William R spoke about 2:25 the opportunity for Africa to turn 2:28 climate action into an engine of 2:31 economic growth. He pointed to jobs, 2:34 innovation, and green industries as key 2:37 benefits if the continent invests in 2:40 sustainable solutions. From the global 2:43 stage, representatives of the World 2:46 Meteorological Organization highlighted 2:49 plans to expand early warning systems 2:52 across Africa. 2:54 The aim is to ensure that by 2027 2:58 all Africans will have access to timely 3:00 alerts for floods, droughts, and other 3:04 extreme weather events. The financial 3:07 challenge is enormous. Studies estimate 3:10 that Africa will require over $3 3:12 trillion US by 2030 to adequately 3:16 respond to climate impacts and 3:18 transition to greener economies. 3:21 Yet between 2021 and 2022, 3:25 the continent received only about $30 3:28 billion in climate finance. That is less 3:32 than 1% of the required amount. This new 3:35 pledge, 50 billion annually, is seen as 3:39 a first step to close that gap. At the 3:43 summit, African development banks and 3:46 commercial lenders also announced 3:48 commitments to mobilize 100 billion 3:51 dollars specifically for clean energy 3:53 investment for Ethiopia. The timing is 3:57 symbolic. The country recently 4:00 inaugurated the Grand Ethiopian 4:02 Renaissance Dam, the largest 4:05 hydroelectric project in Africa. Built 4:08 largely with domestic resources, it was 4:11 showcased as proof that African nations 4:14 can deliver mega projects without 4:16 relying solely on external donors. By 4:20 launching this new climate finance 4:22 initiative, leaders are sending a 4:24 broader message. Africa can lead its own 4:28 development agenda. Observers say this 4:32 announcement comes at a critical moment 4:34 ahead of international climate talks 4:37 where Africa has often felt sidelined. 4:40 By putting forward its own financing 4:43 mechanisms, Africa is reframing the 4:46 conversation. 4:48 Rather than waiting for external 4:50 pledges, leaders are presenting Africa 4:53 as a proactive actor with concrete 4:56 plans. But questions remain. Where will 5:00 the 50 billion annually come from? How 5:04 will it be collected? And how quickly 5:06 can it be mobilized? Those details are 5:09 expected to be clarified in the coming 5:11 months. And much will depend on how the 5:14 new facilities are structured and 5:17 governed. For citizens, the stakes are 5:20 clear. Climate change is already 5:23 reshaping daily life. Farmers face 5:26 shrinking growing seasons, fishermen 5:29 report falling catches, and urban 5:32 residents confront deadly floods. If the 5:35 new plan works, it could translate into 5:38 more renewable power for homes, better 5:41 irrigation systems for agriculture, 5:43 stronger flood defenses, and new green 5:46 jobs for young people. The Africa 5:49 Climate Summit in Addis Ababa ended with 5:52 what's being called the Addis 5:54 Declaration, 5:56 committing to this new era of 5:58 African-led climate finance. The next 6:01 step is turning declarations into 6:03 action. As the world looks toward 6:06 upcoming global climate talks, Africa's 6:09 position is clear. The continent will no 6:12 longer simply wait for external aid. 6:15 Instead, it will chart its own path, 6:18 mobilizing its own resources and 6:21 investing in its own future. Whether 6:24 this bold vision succeeds will depend on 6:27 how quickly pledges become projects and 6:30 how effectively funds reach the 6:33 communities most affected. 6:35 For now though, the message from Addis 6:37 Ababa is unmistakable. 6:40 Africa is not just responding to climate 6:43 change. 6:44 It is preparing to lead. 

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