African states seek $100B in annual climate financing support

Zambia made a clarion call Monday to the UN climate change conference COP27 for developed countries to pledge $100 billion in annual financing to beat climate change in the least developed world.

"As Chair of the African group of negotiators here at the conference, we feel that we have to address the key issues around the commitment to financing under the Paris Agreement as a measure of credibility. We need a strong international commitment as we seek exceptional milestone outcomes from this conference," said the country's President Hakainde Hichilema.

In an address to the conference, which is being held in the Egyptian resort city of Sharm El-Sheikh, Hichilema called for a strong global response and collaboration in mitigating against the negative effects of climate change.

He proposed the creation of a template on carbon trading, with the assertion of not being left to individual states, to attain a common global approach towards climate change adaptation and mitigation solutions.

"A crisis like this (climate change) should not divide us but enhance our cooperation as the league of nations in one of the surest ways to defeat climate change. We must come out of this COP27 stronger, as a united voice with a common purpose to fight against climate change," he added.

Being dubbed the "implementation COP," African states are viewing the event as a timely platform to emphasize the call for a global response in helping the continent cushion the negative impact of climate change.

This is because despite the continent being the worst hit by the negative effects of climate change, Africa only contributes 4% to global greenhouse gas emissions.