Parliament, Friday, 2 September 2022 – The Portfolio Committee on Environment, Forestry and Fisheries has noted the launch of the Climate Finance Accelerator in Egypt today, marking the closure of a successful Africa Climate Week in Gabon.

Climate financing and resource mobilisation from private sector capital in support of adaptation and mitigation was one of the themes explored during the week-long engagement in Gabon.

Committee Chairperson Ms Faith Muthambi said this is an important step, because it centralises and coordinates a point of financial assistance when climate change-related destruction occurs.

It also goes some way to making societies, especially poor countries, more climate resilient. It is hoped that the speed with which financial support is made available to poor countries will improve and that funding provided through the Climate Finance Accelerator does not become bogged down in bureaucracy while people suffer.

The international community’s interventions in climate disasters must now be activated speedily, particularly in light of what is happening in countries such as Pakistan, where financial support is required to evacuate people and then accommodate them. On behalf of the committee, Ms Muthambi wished the people of Pakistan strength in these trying times.

Egypt is set to be the host of Conference of Parties (COP27) under the United Nations banner, in November 2022. Ms Muthambi said the work of building resilience to climate risks and the transition to low carbon emissions economies has never been more urgent. “International solidarity is required on this matter and the sooner the better.”

ISSUED BY THE PARLIAMENTARY COMMUNICATION SERVICES ON BEHALF OF THE CHAIRPERSONS OF THE PORTFOLIO COMMITTEE ON ENVIRONMENT, FORESTRY AND FISHERIES, MS FAITH MUTHAMBI.

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