Malabo - African leaders plan to launch a fund this year to
help the continent access and manage its share of money from the global United
Nations (UN) Green Climate Fund, a UN official said.
Climate negotiators have yet to establish the Green Climate
Fund, which the United Nations wants to be able to deliver $100bn a year by
2020. The idea of the fund was one of the few agreements to come out stalled
climate talks in 2009.
The resources will help poor countries brace for the effects
of climate change while also investing in projects that mitigate it, such as
renewable energy and protecting forests.
The global cost of combating and adapting to climate change is estimated at $46 trillion up to 2050, or $1 trillion a year.
Ibrahima Dia, a senior UN and African Union official
involved in the talks, said the African Development Bank would establish and
manage the fund, which is needed as African states individually lack the
knowledge and technology to secure their share of global climate funds.
The fund will be launched at COP17, the next round of
climate change talks in South Africa in November. African leaders have been
trying to firm up a united position for the continent, which experts say will
be one of the most affected by climate change because of its susceptibility to
drought.
"(The message is) we go united to COP17, we don't scale
down, and we put an emphasis on adaptation," Dia told Reuters on the
sidelines of an African Union summit in Equatorial Guinea, where leaders
discussed climate change amongst other issues such as Libya's conflict.
Dia said only four countries - South Africa, Tunisia,
Morocco and Egypt - currently had the expertise, the knowledge or technology to
attract the money from global climate funds.
"We want to use the knowledge and expertise of the
African Development Bank in managing ad hoc mechanisms to set up that African
Green Fund," Dia said.