Africa's prospects for securing financial support at the Bonn climate talks were dampened due to various factors. Despite contributing the least to historical emissions and having the lowest per capita emissions globally, Africa faces a disproportionate burden from climate change effects, as argued by @mannat_jaspal. African governments are fiscally constrained and have limited ability to raise annual climate mitigation spending or borrow from international markets due to high debt-to-GDP ratios. Over half of the world's poorest countries, many of which are in Africa, will need to cut spending by $229 billion over five years due to debt burdens, exacerbating the situation. Additionally, net financial flows to developing countries have turned negative, making it crucial for wealthy countries to follow through on their past climate-finance pledges.
With net financial flows to developing countries having turned negative, it is crucial that wealthy countries follow through on their past climate-finance pledges, write @miaamormottley and @FinMinNigeria Wale Edun. https://t.co/9K98ejrNvX
Over half of the world’s poorest countries will need to cut spending by $229 billion over five years due to debt burdens — and climate change will only worsen the situation. We urgently need a solution to the global debt crisis. https://t.co/rqOeyvTEws
#African governments, as in most emerging #economies, are fiscally constrained to raise its annual #climate mitigation spending and they have limited ability to borrow from the international markets for high debt-to-GDP ratios: @mannat_jaspal https://t.co/uqUFz0gQaN
#Africa, which has contributed least to historical emissions and continues to have the lowest per capita emissions globally, faces a disproportionate burden from #climatechange effects, argues @mannat_jaspal https://t.co/uqUFz0gQaN
What dampened Africa’s prospects for money in Bonn climate talks https://t.co/JviORbJU3W