The African Development Bank (AfDB) Group has officially made this year's Annual Meetings in Lisbon, Portugal, carbon friendly.
This announcement follows acquisition of carbon credits after an investment in a composting project, in Cape Town, South Africa.
Annual Meetings CO2 emissions are related to flights, local transport, paper and energy consumption both at the meeting venue and hotels, among others, which cannot be avoided but must be offset.
AfDB's Climate Change Action Plan 2011-2015
The African Development Bank (AfDB) is actively engaged in supporting Africa to deal with the challenges of climate change. In 2009, the AfDB Group developed a "Climate Risk Management Strategy and Adaptation to Change" plan, which aims to strengthen the capacities of African countries in addressing he risks associated with climate change.
The plan also ensures that any investment financed by the Bank "passes the climate test" by designing, implementing, and managing investments in a way that reduces the impacts of climate change, at a minimum cost.
The global plan is aimed at reducing the continent's vulnerability to climate change and supporting a transition period that will lead to an economy of low greenhouse gas emissions.
Concrete achievements
The AfDB has supported many initiatives promoting adaptation to climate change and the attenuation of its effects in agriculture, water, transport, and energy sectors.
According to estimates, the resources needed for Africa to adapt to climate change and go down the low carbon development route would be between USD 22 and USD 31bn per annum between now and 2015.
The AfDB receives numerous requests for financing in the field of climate change from its members.
In view of the possibility that climate change could endanger the modest progress made by the continent towards the attainment of the UN Millennium Development Goals, the AfDB has undertaken to grant the requests of these countries to help them to meet the challenges associated with climate change.
During last December's Climate Change Conference held in Cancun, Mexico, the President of the AfDB, Donald Kaberuka, appealed to the international community to support the creation of a Green Fund for Africa, to be hosted by the Bank.
This fund would serve as the vehicle for coordinating Africa's efforts to address climate change challenges. The African Green Fund would respond directly to Africa's needs and priorities in terms of reducing climate vulnerability and promoting a low carbon development pathway for the benefits of all Africans.
