President Nana Akufo Addo has revealed that Ghana determined to push COP27 to deliver on its commitment to double financing towards climate adaption efforts on the continent.

According to the President, “it is time to turn words into deeds, and ambition into action. With the world in flames and under flood waters, the eyes of people everywhere will be on the decision-makers at COP27. They have to deliver if they are to escape the censure of history.”

The president made this remarks at the at the Virtual Climate Adaptation Summit, on Monday, in Rotterdam, Netherlands.

Delivering his opening remarks, Akufo-Addo said, “we are aware of the current geopolitical circumstances. Food and energy security are at risk across the world; inflation is rapidly rising; and climate change threatens the progress we have made, especially in Africa. COVID-19, which resulted in sub-Saharan Africa’s first recession in some twenty-five (25) years, is still hurting Africa.

He continued that, “some twenty-six million (26 million) people fell into extreme poverty, and thirty million (30 million) jobs were lost due to the repercussions of the pandemic in Africa.”

“My country, Ghana, is attempting to use her own fiscal resources to address these risks. The same is true for other African countries. However, the growing food and fuel crises are limiting severely our fiscal space to respond effectively, as the cost of borrowing goes up prohibitively, and access to the capital market tightens dramatically,” he added.

Stating further that, “Africa contributes the least to the climate emergency, yet we are facing increasing and more intense climate-related extreme events.

We are at a crossroads. If we want our continent to thrive, we have to adapt to climate change. And, to achieve this, adaptation financing needs to start flowing at scale. Climate action must not become another casualty of the complex geopolitical era that we are experiencing”.