Climate change may lead to equivalent annual GDP loss of 10-20% in Africa by 2100

A new report has revealed that Climate change may lead to  equivalent annual GDP loss of 10-20% in Africa by 2100.

ADAPT: Policy innovations to unlock climate finance for resilient food systems in Africa, published December 5, 2022, called for action to plug the climate adaptation finance gap, estimated at $41.3 billion (Rs 3.4 trillion) annually.

The report was launched by a panel of experts from the Malabo Montpellier Forum in Dakar, Senegal. The panel convenes 18 leading agriculture, engineering, ecology, nutrition and food security experts.

It aims to facilitate policy choices of African governments to accelerate progress towards food security and improved nutrition.

The agri-food sector alone employs about two-third of the total workforce in Africa. It contributes to an average of 30-60 per cent to gross domestic product (GDP) and about 30 per cent to export earnings per country.

Given the situation, climate change may lead to an equivalent annual GDP loss of 10-20 per cent in Africa by 2100, the report analysed four African countries — Benin, Mali, Rwanda and Zimbabwe.

It highlighted how dedicated action at the government level — through strategic policies, institutional innovations and other interventions — can unlock significant climate finance for resilient and sustainable transformation of the food system.

The analysis lauded the efforts taken by Benin in mobilising climate finance towards transforming food systems.

The government of Benin ensured that its national resources were optimised to address the impacts of climate change. The country has also issued guidelines on mainstreaming climate change across sectors and sub-national levels.

Also, Mali’s government has mobilised significant climate funds over the last decade, driven mainly by close partnerships with international development partners.

These funds supported the establishment of a scientific basis and community-level capacity to address the impacts of climate change.