AFRICAN NATIONS NEEDTO
AFRICAN NATIONS NEEDTO PRESENT A UNITEDFRONT AT COP MEETINGSIn the context of Africa experiencing negativeimpacts from climate change, Tina Costa and GregoryNott, directors at Norton Rose Fulbright, call fora “winner’s mindset” from the continent’s leadersat annual COP gatherings, one that is proactive,partnership-seeking and solution-oriented. Thisarticle was written in the build-up to COP29.AAfrica faces a stark reality: contributing less than 4% of global greenhouse gasEngaging the expertise of women farmers to grow Africa’s carbon market could be transformative.emissions, the continent is disproportionately impacted by climate change,threatening its development and stability. In the context of COP29, African nationsmust align like never before to turn this imbalance into opportunity.Every year, the annual Conference of the Parties (COP) meetings are held wherenations convene to assess progress in dealing with climate change and align onclimate action per the guidelines of the UN Framework Convention on ClimateChange (UNFCCC).This 29th Conference of the Parties (COP), called the “Finance COP”, occurredin Baku, Azerbaijan, between 11 and 22 November. Azerbaijan is located at theboundary of Eastern Europe and West Asia.A developing country which ranks 91st on the Human Development Index,Azerbaijan is a petrostate with big plans for natural gas extraction to grow its gasexport market to Europe. The President of Azerbaijan, Ilham Aliyev, recentlyhighlighted these plans while also appealing for the need for COP29 to act onbehalf of developing nations.Azerbaijan’s hosting of COP29 highlights the UNFCCC’s challenging task ofensuring progress, alignment and agreement on developmental financing to reducecarbon emissions to “limit the temperature increase to 1.5°C above pre-industriallevels”, as per UNFCCC guidelines.African heat on the riseSince 1901, the vast majority of Africa has warmed by more than 1°C, with anincrease in heat waves and hot days. “The State of the Climate in Africa 2019”report showed that climate change is having an increasing effect on the Africancontinent, with the most vulnerable being hit hardest by food insecurity, populationdisplacement and limited water supplies. These effects hit the most vulnerablepopulations hardest, intensifying food insecurity, population displacement andstrained water resources across the continent. COP29 was a rare moment forAfrican nations to push back, not with a plea for aid, but with a compelling visionfor growth powered by sustainable partnerships.Because climate change has adversely impacted the continent, Africa’s collectivevoices must be amplified by its leaders at COP proceedings.Africa has made great efforts to walk the talk, as demonstrated by the highlevels of ratification of the Paris Agreement (over 90%) and the number of Africannations that have already committed to transitioning to green energy over the shortterm. Clean energy in agriculture, for example, is a priority in over 70% of Africannational development plans.However, Africa’s development is off track with the United Nations’ SustainableDevelopment Goals (SDGs), which most developed nations are successfullytracking against.20PHOTO: Freepik
CLIMATE CHANGEThe developed world is leading the discussions on climate-change mitigationfrom a very different perspective than our continent, where 600-million peoplehave no access to electricity. This number is close to double the population of theUSA, which puts this mind-boggling power crisis into perspective.African nations, therefore, face the unique challenge of reconciling climatechange mitigation and development goals. In many cases, the global focus onclimate financing is crowding out development funding for the continent, andso any COP negotiations need to balance developmental objectives with a drivefor growth.The continent, however, would do well not to arrive at COP meetings witha mindset to secure aid but to present a united front among its leading Africannations that clearly articulates the role they see themselves playing in addressingglobal climate change concerns.The continent’s representatives would benefit from a “winner’s mindset” that isproactive, partnership-seeking and solution-oriented, as guilt-tripping developedworldnations has historically had limited positive impact on the continent.Women’s participation in carbon marketsOne of the areas where the continent can request partnerships and programmeassistance is its evolving carbon markets.With 60% of Africa’s working women involved in agriculture and 26% engagedin entrepreneurial pursuits, this continent is where women’s expertise in farming,ecosystem management and business must be harnessed in the fight against climatechange. By addressing this gap, African leaders can ensure women are key playersand beneficiaries in this emerging market.The rapid growth of the African carbon market currently lacks inclusivity,with women notably absent from carbon-market leadership despite being at theforefront of climate solutions. Policies and opportunities that enable women to bekey participants and beneficiaries in Africa’s evolving carbon markets can make asignificant positive impact.Global carbon markets, particularly the voluntary-carbon market (VCM), areon the rise. The VCM is a system where individuals, companies or organisationscan offset their carbon emissions by investing in projects that reduce or harnessequal amounts of greenhouse gases from the atmosphere, contributing toenvironmental sustainability beyond regulatory requirements. According to theAfrican Development Bank (AfDB), the VCM will be valued at -billion by 2030.With a contribution of 21% of the global carbon credits issued in 2021, Africa is in astrong position to take advantage of this fast-growing global market’s opportunities.This move would set a path to leverage carbon markets to generate environmentalgains and advance gender equality. Initiatives such as the African Union’s Decade ofWomen’s Financial and Economic Inclusion, an African Union 2020 declaration,help the continent scale up actions for progressive gender inclusion towardssustainable national, regional and continental development.The African Development Bank is publishing a policy paper on Genderand Carbon Market Policy to emphasise the relevance of integrating genderconsiderations into regional, national and local market operations. Despiteplentiful efforts to standardise the African carbon market, limited access forwomen to knowledge and skills through education and training poses a challengeto making this space gender inclusive.The intersection of carbon markets and gender equality in Africa presents aunique opportunity. With the support of key partner countries and regionalorganisations, the continent can contribute significantly to global climate goals toshape equitable carbon markets in Africa.A call to action for Africa’s futureWhen African nations prepare for COP gatherings they should stand united,resilient and ready to shape a future where Africa’s development and climate goalsare realised together. African leaders have a chance to make their voices heard notonly for today’s agenda but for future generations who will bear the consequencesof today’s actions.ABOUT NORTON ROSE FULBRIGHTNorton Rose Fulbright provides a full scope of legal services to the world’s preeminentcorporations and financial institutions. The global law firm has more than 3 000lawyers advising clients across more than 50 locations worldwide, including London,Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg,covering Europe, the United States, Canada, Latin America, Asia, Australia, Africaand the Middle East. With its global business principles of quality, unity and integrity,Norton Rose Fulbright is recognised for its client service in key industries, includingfinancial institutions; energy, infrastructure and resources; technology; transport; lifesciences and healthcare; and consumer markets.www.nortonrosefulbright.comEven as Africa rapidly becomes more urbanised, the continent’s contributionremains less than 4% of global greenhouse gas emissions.PHOTO: Kelly on Pexels21
