US Government Announces $5 Million Grant to Help African Development Bank Tackle Methane Emissions | African development bank
The United States government has announced that it will provide a $5 million grant to the African Development Bank to support efforts to reduce methane emissions across Africa. Methane accounts for about half of the net increase in global average temperature since pre-industrial times.
The grant, subject to the completion of US domestic procedures and approvals, will go to the Multi-Donor Africa Climate Change Fund, which is managed by the African Development Bank. The Fund supports a wide range of activities covering climate resilience and low-carbon growth.
The US Presidential Special Envoy for the Climate, John Kerry, made the announcement during a breakfast organized on the sidelines of the 18e African Ministerial Conference on the Environment in Dakar.
He said: “More than 25 countries across the continent have joined the Global Methane Pledge, a resounding level of support for the importance of methane to keep 1.5 degrees within reach.”
“I am very pleased that the African Development Bank is responding to the increased global attention to methane emissions and plans to focus more on methane reduction in the years to come,” Kerry added.
Additional funding has also been pledged by the Climate and Clean Air Coalition (CCAC) and the Global Methane Hub to tackle methane emissions in African countries. The Global Methane Hub will contribute $5 million over the next three years. The Hub funds methane mitigation efforts. The Coalition, a voluntary partnership of governments, intergovernmental organizations, businesses and research institutions, will provide $1.2 million.
The Global Methane Commitment, launched at COP26, aims to reduce methane emissions by at least 30% below 2020 levels over the next seven years.
Welcoming the contributions, the African Development Bank’s Vice President for Power, Energy, Climate and Green Growth, Kevin Kariuki, said the Bank plans to create activities within the ACCF to support methane reduction.
“With the support of the U.S. government and other donors and non-state actors, we intend to create a dedicated pillar of activities within our Africa Climate Change Fund to support methane reduction, including by working with countries to include methane in their Nationally Defined Contributions and develop pipelines of methane reduction projects for new investments,” Kariuki said.
The African Development Bank will release a methane baseline report covering methane emissions from the waste and energy sector across Africa at the upcoming COP 27 in Sharm El Sheikh, Egypt.
“It will provide an excellent basis to focus more on methane emissions,” Kariuki said.
The African Development Bank Africa Economic Outlook 2022 projects that Africa will need up to $1.6 trillion between 2020 and 2030 to implement its climate action commitments and NDCs.
The African Development Bank has pledged to mobilize $25 billion for climate finance by 2025; more than 50% of this funding will be allocated to adaptation projects.
The five-day recovery 18e Session of the African Ministerial Conference on the Environment in Dakar, ends on Friday 16e of September. Organized by the United Nations Environment Programme, it provides a forum for African environment ministers to propose policy guidance that will help strengthen Africa’s voice at COP27.
Context of the African Climate Change Fund
The African Climate Change Fund (ACCF) was established in April 2014 to help African countries build resilience to the negative impacts of climate change and transition to sustainable low-carbon growth. It was designed as a bilateral trust fund with an initial untied contribution of €4,725,000 from Germany for an initial period of three years, with the aim of transitioning to a multi-donor trust fund as soon as at least one new donor was ready. join. The FCCA converted into a multi-donor trust fund in March 2017 for a period of five years initially expiring in March 2022 with contributions from Italy, the Flemish region of Belgium, Canada and Quebec. The duration of the Africa Climate Change Fund was recently extended by five years to 2027 and the African Development Bank has expanded its scope to meet the objectives of the Glasgow Climate Pact, which include among others the Global Commitment on Methane.
The ACCF is hosted and managed by the African Development Bank and complements other Bank trust funds with a scope broad enough to cover various types of activities related to climate resilient and low carbon growth.
Remarks by Kevin Kariuki