Africa to lose $415bn to climate change impact

According to energy experts, by 2030, Africa may experience $415 billion in yearly economic losses as a result of climate change effects and the infrastructure damage caused by natural disasters.

Ayaan Adam, a senior director at the Africa Finance Corporation (AFC) and the CEO of AFC Capital Partners, stated that the loss of $415 billion in infrastructure by 2030 in Africa alone could be attributed to climate change. He was speaking at the African Refiners and Distribution Association’s virtual training on sustainable financing (ARDA).

“With Africa being the most vulnerable continent to climate change, mainstreaming climate change is a key requirement for the long-term viability of its infrastructure,” Adam noted.

According to Adam, the impact of climate change in Africa is out of proportion to its contribution to global emissions, which could have an impact on the region’s future infrastructure needs.

Adam emphasised the need for future infrastructure developments to be able to lessen, accommodate, or recover from the effects of natural disasters and climate extremes. He also noted that this would necessitate climate resilient infrastructure planning and additional cost consideration for development.