STORY CONTINUES BELOW THESE SALTWIRE VIDEOS - At the African Climate Summit this week, national leaders meet to discuss how to fund the challenges posed by climate change and biodiversity loss.
Another recent report co-authored by executive secretary at the UN Economic Commission for Africa, Vera Songwe, concluded that MDBs yearly climate finance must triple within five years, from $60 bln to $180 bln, to help developing economies globally cope with global warming. The countries hope demand for carbon offsets - credits for emissions-reducing activity that can be generated through projects such as tree planting - will increase as companies with net-zero goals buy them to cancel out emissions elsewhere.
Clean cookstove projects are also popular in Africa which generate carbon credits by substituting a polluting cooking method for one with lower emissions.