Working Paper 89 - Come Rain or Shine - Integrating Climate Risk Management into African Development Bank Operations

Abstract

Climate change is happening now, and further changes during the next decades are inevitable (IPCC, 2007a). During the last century, the global climate warmed by about 0.7°C. At the same time, there were distinct changes in rainfall patterns, an increase in both frequency and severity of extreme weather events, and a rise in sea levels. The impacts of these changes are already being felt, and will intensify as further changes take place. Another 2–4°C rise is projected for the current century, mostly as a result of greenhouse gases that have already been emitted. This means that, although aggressive mitigation of greenhouse gas emissions is crucial to prevent longer term, potentially catastrophic changes, most of the changes projected for the coming decades cannot be avoided.Africa is especially vulnerable. This is clear from the effects of current climate variability and weather extremes – such as floods, droughts and storms – which severely affect economic performance (AfDB, 2003; G8, 2005; Stern et al., 2006; IPCC, 2007b). The poor pay the highest price, because their livelihoods are most affected, and they have fewer resources to help them adapt to the changing climate. Box 1 describes some of the areas where climate change will have its most severe impacts in Africa.African policy-makers and stakeholders are beginning to recognize the need to address adaptation to climate change. There is growing awareness of the setbacks to development and poverty reduction that will result from climate change, threatening the achievement of the Millennium Development Goals (MDGs). This was articulated in the multi-agency document ‘Poverty and Climate Change’ (AfDB, 2003), and more recently at the African Partnership Forum in May 2007 (APF, 2007). Climate change was placed on the agenda of the AU Heads of State Summit for the first time in January 2007, which resulted in the adoption of a Decision and Declaration on Climate Change and Development in Africa and in the endorsement of the Climate Information for Development – Africa (ClimDev Africa) Stakeholders Report and Implementation Strategy (GCOS, 2006).