{"id":59481,"date":"2023-12-04T16:32:48","date_gmt":"2023-12-04T16:32:48","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/president-geingob-urges-swift-activation-of-fund-on-loss-and-damage"},"modified":"2023-12-04T16:47:17","modified_gmt":"2023-12-04T16:47:17","slug":"president-geingob-urges-swift-activation-of-fund-on-loss-and-damage","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/president-geingob-urges-swift-activation-of-fund-on-loss-and-damage","title":{"rendered":"President Geingob urges swift activation of Fund on Loss and Damage"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>PRESIDENT Hage Geingob recently emphasised the urgent need to activate the Fund on Loss and Damage, designed to aid developing countries in tackling the impacts of climate change.<\/p>\n

The president made this request during the G77 and China Leaders\u2019 Summit on Climate Change held at the 28th session of the Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCCC). This conference is being held in Dubai, United Arab Emirates (UAE). The agreement to establish the Fund on Loss and Damage was reached in the early days of COP28.<\/p>\n

\u201cAs we witness the increasing frequency and intensity of climatic events, particularly on the African continent, we urgently call for the operationalization of the Fund on Loss and Damage. Vulnerable developing countries must receive the necessary support to address the irreversible impacts of climate change,\u201d he said.<\/p>\n

President Geingob also urged developed countries to establish clear, long-term objectives to achieve the minimum target of USD 100 billion annually for climate finance, commencing from 2025. He underscored the critical necessity of allocating these funds between adaptation and mitigation, emphasizing the urgent need for enhanced grant-based assistance for adaptation in vulnerable nations.<\/p>\n

\u201cAdaptation, too often overlooked, must be given its due prominence. We advocate for the development of a global goal for adaptation, with an equal split of climate finance between adaptation and mitigation. The proceeds from the global carbon market under the Paris Agreement should contribute to the Adaptation Fund, supporting projects in developing countries,\u201d the president explained.<\/p>\n

He highlighted Namibia as one of the countries that is disproportionately affected by the impacts of climate change, despite the country\u2019s minimal contribution to causing these changes.<\/p>\n

\u201cOur people, whose livelihoods are deeply intertwined with the health of our environment, face increasing challenges due to rising temperatures, changing precipitation patterns, and more frequent extreme weather events,\u201d President Geingob said.<\/p>\n

Moreover, he emphasised Namibia\u2019s commitment to making substantial contributions towards global industry decarbonisation, particularly through the advancement of a green hydrogen industry.<\/p>\n

\u201cNamibia looks forward to working collaboratively with the international community to build a more resilient, equitable, and sustainable world,\u201d the president added.<\/p>\n\r\n