A new report from the World Meteorological Organization (WMO) reveals that African nations are grappling with escalating financial demands due to climate change, with some countries spending up to 9% of their budgets to manage climate-related disasters.
Although Africa contributes less to global greenhouse gas emissions compared to other regions, its temperatures are rising faster than the global average. The WMO’s “State of the Climate in Africa 2023” report indicates that African economies are losing between 2% and 5% of their GDP in response to severe heatwaves, heavy rainfall, floods, cyclones, and extended droughts.
The report estimates that sub-Saharan Africa will need $30 billion to $50 billion annually over the next decade to adapt to climate change. It calls for increased investment in meteorological and hydrological services and the implementation of early warning systems to help mitigate impacts and protect lives.
This report arrives as African countries look to leverage this year’s U.N. COP meetings to secure a larger portion of global climate funding. Although funding for climate projects in Africa has increased, the continent still receives less than 1% of global climate finance, as noted by officials earlier in August.
