This year, the Conference of the Parties (COP27) will be held in in Sharm el-Sheikh, Egypt. On the outset of this auspicious occasion, it is befitting to reflect upon contemporary climate adaptation and mitigation policies, from a southern and African point of view. Indeed, climate change is one of the stickiest policy problems of the 21st century, because it is inherently a global and multidimensional problem entailing a bundle of policy features. Following the consecutives shocks to the global economy caused by fossil fuels, the timing has never been better to melt the polarization around climate change politics and propose innovative solutions to surf the uncertainty and complexity of this intractable policy problem.

The world faces a huge shortage of infrastructure investment relative to its needs. With few exceptions, such as China, this shortage is even greater in non-advanced countries.

The G20 Infrastructure Investors Dialogue estimated the volume of global infrastructure investment needed by 2040 to be $81 trillion, $53 trillion of which is needed in non- advanced countries (OECD 2020). The Dialogue projected a gap – in other words, a shortfall in relation to the investments foreseen today – of around $15 trillion worldwide, $10 trillion of which is in non-advanced economies.

2020 is an important year for the international climate agenda despite a general loss of momentum and resurgence of the divide between traditional polluters, emerging polluters, and the most vulnerable countries. While African countries only contribute to 4% of global GHG emissions, their capacity to adapt to climate change’s devastating impact on societies, livelihoods, economies, and ecosystems is limited. This paper provides a synthesis of the existing literature and recent developments related to Africa’s position in international climate negotiations. It also provides policy recommendations for African countries to claim a stronger voice and ensure that their priorities (climate finance, technology transfer and capacity building) are better reflected in the international climate regime.

One aim of COP27 was to persuade countries to make commitments to reduce emissions and earmark resources for technologies to be transferred from industrialized states to less developed states. Hovering over the COP27 was the reluctance of wealthy states to live up to their 2009 commitment to provide $100 billion to poor countries, financial assistance for adaptation (as opposed to just mitigation projects), and more compensation for what the Paris Agreement termed “loss and damage,” that is recompense for destruction already wrought by climate change. This year’s gathering is the first where “funding arrangements” for “loss and damage” were included on the agenda, to the displeasure of the US and European Union who fear liability.

In the current context of persistent inflationary pressures and growing uncertainties about the economic outlook, many central banks have mainly focused on their mandate of price stability through more aggressive monetary policies. In addition, the growing concerns linked to climate change and inequalities have shaped the policy discussions related to expanding the traditional mandates of central banks (price stability and/or maximum sustainable employment) to take into account major ethical issues in the design and implementation of monetary policies such as climate change and inequalities. In this podcast, Otaviano Canuto, senior fellow at the Policy Center for the New South, shares his insights on the role of central banks in the current context and whether they should expand the monetary policy toolkit to include climate change and inequalities.

Climate change is the defining issue of our time. The last decade was the hottest in human history and has seen an increase in natural disasters. These shocks not only damage the environment on which humans depend, but they weaken political, economic, and social systems as well. Tackling climate change requires unparalleled levels of global cooperation. It will compel countries to question their economic models, invent new industries and recognize the moral responsibility that wealthy nations have to the rest of the world, thus placing a value on nature that “goes far beyond money.” One way to combat climate change and reduce the drain on our planet’s resources is to shift to systems that utilize sustainable energy. Renewable energy minimizes carbon pollution and has a much lower impact on our environment. While it will cost money to shift to renewable energy, it will cost much more in the long run if the world fails to do so: Given the current uncertain global context resulting from the health crisis, are countries committed enough in the battle against climate change? How can countries lower the cost of the transition to low-carbon sources of energy? What are the significant policies needed to foster the use of sustainable energy? To pursue its battle against climate change, the EU has introduced a carbon border adjustment mechanism as part of its “Fit for 55” package. What are the possible implications of such mechanisms? Are carbon taxes an adequate tool to incentivize countries to decarbonize? Moderator: Uduak Amimo, Journalist and Consultant, Uduak Amimo Coaching and Consulting, Kenya Speakers: - Nchimunya Hamukoma, Research Manager, Harambee Youth Employment Accelerator (ADEL) - Sunjoy Joshi, Chairman, Observer Research Foundation, India - Mari Luomi, Research Fellow, KAPSARC - Saïd Mouline, CEO, Moroccan Agency for Energy Efficiency AMEE