In addition, Africa spends $50 billion a year on oil subsidies, which mainly benefit the richest 40% of households. Considering that $50 billion represents 5.7% of Africa`s GDP, which exceeds health spending, the transfer of these funds to low-carbon initiatives could lead to a long road to improving living standards and even environmental sustainability. Investments in clean energy, such as solar and wind power, are the most cost-effective for electrification in remote areas, and these investments increase household savings and create jobs, says the International Policy Digest. According to a new report by Oxfam and the Stockholm Institute for the Environment, the poorest half of Europeans have reduced their emissions by almost a quarter, while emissions from the richest 10% continue to rise, making tackling CO2 inequality a key part of the EU`s climate targets. Gas SUVs should be banned, the rich contribute disproportionately to Europe`s greenhouse gas emissions, says Tim Gore of Oxfam [Tama66 / Pixabay] According to a September report, the richest 1% of the world`s population were responsible for twice as many carbon dioxide emissions as the poorest half of the world between 1990 and 2015. According to new research, the richest 1% of the world`s population was responsible for emitting more than twice as much carbon dioxide as the world`s poorest half between 1990 and 2015. EU heads of state and government will discuss the proposed target of reducing emissions by 55% at a summit this week, but Oxfam believes a reduction of more than 65% is needed to enable Europe to achieve its fair share in global emissions reductions. The differences between the Member States, which have the richest 10% of citizens in Germany, Italy, France and Spain – about 25.8 million people – are jointly responsible for the same emissions as the entire population of 16 Member States – about 84.8 million people. African experts on development and climate change are convinced that the historic Paris agreement on climate change, unanimously adopted in Paris last December, will be an asset to the continent. At the Paris Summit, 195 countries agreed to reduce greenhouse gas emissions and improve adjustment to limit global temperature rise to “well below 2 degrees Celsius” and to try more optimistically to limit it to 1.5 degrees Celsius. Between 1990 and 2015, global CO2 emissions increased by 60% to more than 1.5oC. For Africa, the soft spot of the agreement is an agreement that provides money for the adaptation and climate change needs of developing countries. African negotiators had called on rich countries to build on developed countries` promise to increase climate finance to developing countries by $100 billion by 2020, in line with Cancun`s 2012 commitment.
They have received their wish, and more, because the Paris agreement provides that the $100 billion commitment will be revised upwards from 2025. While African development experts praise the Paris agreement, they also acknowledge that the continent`s implementation record has not been exceptional. However, the general consensus is that Africa seems determined to implement the agreement. Initially, the African Union Commission (AUC) and UNEP have already set up the Ecosystem-Based Adaptation for Food Security Assembly (EBAFOSA) as a policy and implementation platform. This platform aims to promote and support agricultural value-added chains through an agricultural approach adopted by the EBA.