Zimbabwe has nearly 200 projects worth US$6,8 billion approved by the Global Climate Fund (GCF) under initiatives to support developing countries limit or reduce their greenhouse gas emissions and adapt to climate change.
The GCF supports developing countries such as Zimbabwe through a variety of financial instruments for both public and private sector projects.
Speaking at a recent Green Media Bootcamp hosted by the Embassy of Sweden in Harare, Munashe Mukonoweshuro, from the Climate Change Management Department (CCMD) said more than half the projects were under implementation.
"As of 27 January 2022, the GCF has approved 190 projects with 68 percent of projects under implementation stage, worth US$6,8 billion," she said in a virtual presentation.
But Zimbabwe has only received funding for 2 projects from the GCF- the Integrated Climate Risk Management for Food Security and Livelihoods in Zimbabwe worth US$10 million and the Building Climate Resilience of Vulnerable Agricultural Livelihoods in Southern Zimbabwe worth US$47,8 million.
The GCF was established in 2010 by the United Nations Framework Convention on Climate Change (UNFCCC) as part of the convention's financial mechanism.
It seeks to promote a paradigm shift to low-emission and climate-resilient development pathways, taking into account the needs of nations that are particularly vulnerable to climate change impacts.
There have been growing concerns over the lack of commitment from the global north for enough funding for climate resilience in developing countries that are at the receiving end of the climate change induced disasters, despite contributing less to greenhouse gas emissions.
In preparation for the 27th Conference for the Parties (Cop 27) scheduled for November this year in Egypt, stakeholders including the civil society have called on Zimbabwe and the whole of Africa to push for more favourable climate financing options to help mitigate its impacts in the region.
This will also be an opportunity to compel developed countries to own up to their promises of availing US$100 billion fund every year for climate mitigation in developing countries, which have been battling the adverse impacts of climate change like flooding, droughts and other weather induced phenomena.
Financing is identified as an enabler to climate action.
The region has experienced an increase in climate change induced disasters negatively affecting their economies and exposing them to food insecurity and abject poverty.
At a preparatory meeting dubbed "The Road to Cop 27" held recently, Tawanda Muzamwese from African Sustainability Consultants said there had been a lot of pledges made towards climate action by developed countries without delivery, creating scope for the region and other developing countries to push for reliable financing.
He called on Zimbabwe and the rest of the region to take the COP 27 seriously and not treat it as an ordinary conference or a holiday retreat. He also highlighted the need to come up with sustainable proposals that could attract funding.
"We need loss and damage financing, the damages that we are dealing with due to climate change causes such as tropical cyclones should be paid for and we need to bring this up in Egypt," he said.
In 2019, Zimbabwe together with Mozambique and Malawi were affected by Cyclone Idai that claimed 1300 lives and an estimated US$773 million worth of infrastructure damage.
Housing, agriculture, transport and energy infrastructure were severely damaged in the Eastern Highlands of Zimbabwe resulting in supply chain disruptions.
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The World Bank estimated that US$1,1 billion would be required to restore damaged infrastructure and livelihoods. Experts say such damages should be catered for by the climate fund from developed countries.
Africa Coal Network's Bobby Peek called on the need for transitional financing to close the funding gap that prevents Africa from equal participation in, for instance, the design of a new global power system beyond coal, which is a major source of energy for many developing countries. However, it is being de-campaigned for contributing to green-house gas emissions.
He also highlighted the importance of restorative justice, which entails creating a more decentralised, zero-carbon economy, which allows for greater economic inclusion, ownership and participation, especially for women and youth.
