Urgent Call for Enhanced Climate Finance at COP28 Amid Extreme Weather

Global Leaders to Discuss Funding Strategies for Climate Crisis

by Oluwatosin Alabi

As the world grapples with relentless droughts, floods, and other extreme weather conditions due to climate change, experts are calling for a robust funding mechanism. This plea comes ahead of the commencement of the COP28 climate conference in Dubai, United Arab Emirates (UAE).

Charles Ndondo, Managing Director of Carbon Green Africa, emphasized the critical need for global action in the wake of changing rainfall patterns and recurring natural disasters. “The devastating effects of climate change are undeniable and demand immediate attention,” Ndondo stated.

The United Nations Climate Change Conference, COP28, is set to run from November 30 to December 12 at Expo City, Dubai. This conference is a pivotal platform for world leaders, especially from influential countries, to escalate discussions on increasing funding for climate change mitigation.

“This is a crucial moment for global unity. Droughts, floods, and cyclones are unrelenting, and it’s imperative for COP28 attendees to adopt a more practical approach to raising climate finance,” Ndondo added. He also urged the private sector to step up their involvement in combating climate change.

Large corporations, particularly those with significant carbon footprints like car manufacturers, have been criticized for their lackluster participation in climate change initiatives. “COP28 offers a chance for governments, environmental experts, corporate leaders, and other stakeholders to strategize on enhancing climate change financing and increasing private sector participation,” Ndondo noted.

In Zimbabwe, the Ministry of Environment, Climate, and Wildlife has been proactive in enacting laws and regulations that govern private players’ involvement in the climate finance space, particularly in carbon credit trading. This move aims to align with the Second Republic’s vision and promote private-public partnership (PPP) agreements.

The Zimbabwean government’s mantra ‘leave no one and no place behind’ extends to climate change issues, encouraging local players’ interest in carbon credit trading schemes. Entities like Carbon Green Africa and Kariba REDD+ were recently regularized to align with national and international climate objectives.

Zimbabwe, as part of the United Nations Framework Convention on Climate Change (UNFCCC), has made significant efforts to align with global climate mitigation goals. The UNFCCC’s principles include responsibility, reduction of climate impact, education for climate action, promoting sustainable consumption, and advocating for climate action through communication.

COP28 presents an opportunity for a concerted global effort to address the urgent need for climate finance, aiming to mitigate the growing challenges posed by climate change.

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