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WWF together with the African Development Bank and ABInBev have launched a report dabbed Waterways to Resilience, Nature -Based Solutions for Adaptation.
Dr Vanesa noted that while investment in adaptation in genera; and particularly Nature Based Solutions is far short of what is required to keep communities safe and resilient, the African Development Bank is working out clear actions to address this.
“The African Development Bank is going to lead the way. We are going to commit over 50% of our climate financing to adaptation. We are also challenging other financial institutions to follow suit and COP27 is providing that platform”, she noted.
Stuart Orr noted that the commitment from ADB was timely as it would address the water scarcity in the continent.
“Africa depends on its fresh water resources. By having more finances to inject in projects that protect these, we can increase resilience to draughts and floods while nurturing agriculture land and sustaining fresh water fisheries that feed tens of millions of our most vulnerable people”
Stuart cited examples of the restoration work happening at River Nyamwamba in Uganda and the need to scale up the intervention to protect nature and the lives of people.
WWF Uganda’s Simon Peter Weredwong also called for the scaling up of investment in healthier rivers, lakes, wetlands and water sheds to build more resilient communities, economies and countries and drive long term sustainable development.
The launched report, according to Eric Oyalle suggests that annual adaptation costs for Africa could reach usd35 billion and will need to increase to 7% annually from todays level to meet that level of needed investment.
Investment in sustainable management of water resources and adaptation more broadly will continue to be needed even if the world is able to follow the most optimistic pathways for reducing emissions and holding temperature rise to 1.5.