November 13, 2025 • 16 mins
At COP30 in Brazil, scientists have warned that the Congo Basin, a region of tropical forest larger than India, is at a point where further damage may rob the world of a crucial bulwark against climate change.
On this week’s episode, Jennifer Zabasajja is joined by Senior Africa Reporter Antony Sguazzin and Bloomberg Opinion Climate Columnist Lara Williams to discuss why the Congo Basin is so important to tackling climate change, what support African leaders are calling for and whether this COP summit will actually deliver any substantial action.
You can read our coverage of COP30 here, and sign up for the Next Africa Newsletter here.
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:09):
The Congo basin the world's biggest tropical carbon sink, is
at risk if defour station doesn't stop. Bold, urgent and
innovative actions are needed to prevent forests from turning from
carbon sinks into sources of emissions.
Speaker 3 (00:23):
Without stable and the resilient and forest carbon sinks, the
global goal or limiting temperature rise two one point five
becomes untenable.
Speaker 2 (00:34):
The report from scientists at COP thirty is the latest
warning about efforts to tackle a climate crisis that is
already hitting African nations hard.
Speaker 4 (00:46):
Those who have contributed the least to climate change are
paying the highest price. Our populations are hit by floods,
extreme droughts, erosion and food insecurity. Meanwhile, the funding remain
insufficiently fragmented, too often mistargeted.
Speaker 5 (01:03):
Fag Monte Mazibli.
Speaker 2 (01:07):
On today's episode of The Next Africa Podcast, we'll look
at this threat to the Congo Basin, why saving it matters,
and the state of the global response to climate.
Speaker 5 (01:17):
Change in twenty twenty five.
Speaker 2 (01:22):
I'm Jennifer's Abisaja and this is the Next Africa Podcast,
bringing you one story each week from the continent, driving
the future of global growth with the context only Bloomberg
can provide. Our senior reporter Anthony Squisine, who's been reporting
the story for Bloomberg News, joins us now along with
(01:42):
our Bloomberg Opinion climate columnist Lara Williams. Thank you both
for joining us this week. Really appreciate it.
Speaker 5 (01:49):
Anthony.
Speaker 2 (01:50):
Let's just start with you, because I believe you and
I have actually been at a COP summit before, so
you know, it's always interesting to sort of take a
look at what we've seen in the past and where
we're at right now. Brazil, though they've just heard this
stark warning about the Congo Basin, maybe you can give
us a bit of a detail about what exactly we're
(02:11):
talking about here and what the concern is.
Speaker 5 (02:16):
The Science Panel for the Congo Basin, which is a
relatively newly formed group, has decided to use the COCK
Summit in Belem to launch its first reports on the
state of the Congo Basin, which my area is the
second biggest tropical forest in the world, but it's actually
the world's biggest tropical carbon sink, which means it absorbs
(02:37):
more carbon than either the Amazon or the tropical forests
of Southeast Asia, and they've just brought to light a
few warnings about the health of the region, the fact
that deforestation is continuing a pace, and there were various
other threats. And I spoke to the Special Envoy for
the panel who estimated that it is a decade to
(02:58):
turn things around. As what's happened to the Amazon, the
region may become a net emitter rather than absorber of carbon.
Speaker 2 (03:06):
Can you explain more about the importance of the Congo Basin.
I mean, you walked us through a little bit there,
but maybe you can contextualize it for the audience.
Speaker 5 (03:15):
The Congo Basin is a very large area. It's a
little bigger than in India in total, stretches from Nigeria
to the Rift Valley in East Africa. In total, it
absorbs about six hundred million tons of carbon diks at
a year. That's the carbon DIX that's sucked in by
trees from the atmosphere, So that's a climate warming gas
(03:36):
that's being taken out of the atmosphere and stored in trees,
therefore not contributing to the warming up of the planet.
That's quite big. That's equivalent to the annular missions of Germany.
Which is a relatively large emitter. In addition to that,
it has wetlands called peatlands, which store semi decomposed material
and in those peatlands there are thirty billion tons of
(03:58):
stored carbon, So it's pretty major. That's from a common perspective.
In addition to that, it's a very large tropical forest
area and that regulates rainfall and climates across a much
broader region of Africa. So areas as far afield as
the Sawhill in West Africa and the highlands of Ethiopia
(04:19):
depend on what happens in the Congo basin where their
own rainfalls to regulate their own rainfall seasons every year.
Speaker 2 (04:25):
Wow, and we've already seen swings and uncertainty and inconsistencies
as far as some of the other countries go. So, Anthony,
what exactly is driving deforestation in the Congo And how
would you say it's different than what we're seeing elsewhere
in the Amazon, for instance, in the.
Speaker 5 (04:41):
Congo basin is very different from the Amazon and Southeast
Asia where agriculture is well to a certain extent, is
very commercial. So these these massive plantations being run by
big companies and we're see jungle being raised for soybean
farms or palm oil plantations in the Congo Basin and
really specifically the Democratic Republic of Congo, which accounts for
(05:02):
about two thirds of the forest area of that forest region.
There's a lot of subsistence agriculture where farming methods haven't
changed in hundreds or perhaps thousands of years. So every
year a family will go out and they will burn
down and clear perhaps a hecta of jungle and then
you know, plant crops in that area. Now that's problematic
(05:25):
in that it's trimming back the jungle, meaning the trees
can no longer absorb carbon. But it's also creating emissions
in that it's burning all the spio mass, and that
in itself is problematic. So it's quite a hard thing
to get a handle on because there are millions of
people involved in subsistence agriculture in the region and to
change those practices is quite difficult, especially given that a
(05:48):
lot of the governments in these countries are not that
well run. They're fairly chaotic countries. Some of them are
plagued by conflicts, especially in the DRC, and it's a big,
big issue try and turn that situation around.
Speaker 2 (06:02):
Lara let's just bring you in here. When you know
you've been following COP quite closely. How serious is this
warning being taken?
Speaker 1 (06:10):
Yeah, well, I think it's particularly salient for this top
which is you know, being held at the edge of
another tropical rainforest, and in the opening statement the terrelation
of rainforest nations, which I think encompasses most if not all,
of the countries in the condo basin. You know, they
took the opportunity to kind of urge action on deforestation,
(06:32):
and so yeah, I think at this particular TOP, reports
like this our front of mind. One of my sources
at COP told me that he is particularly impressed with
how many people are talking about bio diversity in nature,
which isn't always the taste at climate crops. You know,
often the focus is more on energy. But you know
what makes TOP COP is that you've got most of
(06:54):
the countries in the world there, there's a lot of
computing objectives, and so while there is a sense of
urgency and people are taking reports like this seriously, doesn't
necessarily mean that Regenera do at the action that we
really really want.
Speaker 2 (07:08):
Right, which is always the concern, Anthony, from your sources
on the ground, there in Belam. How seriously are they
taking this morning.
Speaker 5 (07:16):
I think that they're really looking for a big bank.
You know, this is how important the congurvation is. I mean,
this is, as Laura said, taking place at the HB Amazon,
which is probably the world's best known tropical forest. I'm
just saying, hey, this is also very important and things
need to be done to preserve its role in regulating
the international climates. So I think that's what they're aiming for.
(07:40):
We'll have to see what the reaction is where they
get much traction. You know, they've laid out very solutions,
a lot of which are as ever, are pleased for
more climate finance or money to be planned plot into
sustainable development. So far we haven't seen a huge amount.
I know that there has been a fund setup for
the Amazon itself, and while they're in some plages, it's
(08:01):
well shortened. The initial target.
Speaker 2 (08:03):
Stick with us both. When we come back, we'll talk
more about what this report is telling us about the
climate emergency in Africa and where any support is coming
from to try.
Speaker 5 (08:13):
And actually tackle it.
Speaker 2 (08:14):
We'll be right back. Welcome back. Today on the podcast,
we're talking about the stark warning about the future of
the congo basin delivered at this year's COP summit. Lara
Williams and Antony's Cuisine are still with me. Now before
we dig more into the solutions, Antony, I wonder, if
(08:37):
you know, it's been a few days that CoP's been
underway in Belem, does this one feel different? I mean,
Lara was pointing out the location of this, and I wonder, though,
with the previous cops that you've covered, does it seem
like there's at least a bit more urgency coming out
from the sources and the people that you've been speaking with.
Speaker 5 (08:54):
Well, I think it's a mixed picture. I mean, the
resurgency given that the states of the global climate interior
rating and you know, we're closer and closer to missing
our targets to limit global warming, So there is that.
But on the flip side, you know, we have the
US which is not at COP and a slashed funding
and is advocating more and more drilling for hydrocarbons. So
(09:17):
I think it's really a very mixed picture, and it's
hard to say it's going one way or the other.
Speaker 1 (09:23):
Lara, what would you say, Yeah, I'd say, you know
this this top has also faced some logistical problems being
held at you know, the edge of a tropical rainforest,
and so it's much smaller than previous drops. That's not
necessarily a bad thing. And you know, I think you
guys have been to drops before and I'm sure you've
felt the same kind of joy and hope. You know,
(09:45):
there's something about the atmosphere, a crop just you know,
everyone being there altogether. I have heard, you know, sources
talking about about that sense is still there even though
it is smaller. But yes, definitely, the US's absence is
kind of looming large though that is a sense that
that actually you know, could be better than them being there,
you know, considering that they're they're now almost to the
(10:07):
right of Saudi Arabia, who have consistently been a bit
of a sticking point in COP negotiations, and so maybe
there's a bit of a relief that they don't have
to deal with the US. Is like bullying tactics in
the neotiating rooms, and I think there is I know
from the Brazil presidency they really want to stress and
make this a cop for multilateralism, and so we've seen
(10:30):
that already with you know, there could have been in
a fight over the agenda of cop and that was
resolved very quickly. But we are still early days. I'm
talking to you now and there's only been one full
day of substantive negotiation. So we'll have to see if
that spirit of multilateralism continues.
Speaker 2 (10:48):
Yeah, especially in a world like we're in in twenty
twenty five, Laura, when we look at the major emitters
right of the world, who sort of would turn the dial?
I mean, who should we be focused on, because we
are obviously talking about the Congo basin today. Are some
of the remedies that we're looking for on the African
continent or is it some of these people who are
(11:09):
maybe not present.
Speaker 1 (11:11):
Yes, I mean it's definitely people who are not present. China.
China does actually have I know, there's not many senior
people from China there I believe, but they do have
the second's largest delegation at crop after Brazil, so you
know they are they are there, and there was a
new story this week about their emissions being either stable
(11:32):
or coming down. So so China, could you know, step
up and be a solution I guess a part of
the change. I guess In terms of Africa, I think
it's about avoiding We want Africa like lot, there's lots
of countries in Africa that are you know, still developing,
and we want them to develop in the in a
(11:55):
green way and kind of stip the coal fossil fuel
stage that all of the developed countries dot to do through.
And so key for that is getting climate finance from
you know, the lights of Europe, the richer countries in
order to help stale up the solutions in African countries.
Speaker 2 (12:13):
And just on that, Anthony, where where are some of
the debates around climate finance and the solutions that you
were just speaking to earlier.
Speaker 5 (12:21):
Well, I think the African continant is really pressing for
a switch away from so called mitigation, which is reducing
emissions by investing heavily and renewable energy and things like that.
Because Africa doesn't really produce a lot of emissions. Its
big problem is that it's catching the brunt of global warming,
(12:42):
so you know, typhoons, drafts, floods, and so it wants
more money for adaptation, which is you know, strengthening infrastructure,
putting in place early warning systems for weather disasters, and
a host of other things, even including sea walls, to
create you know it's basically cope with rising sea level,
and that's been a hard area to attract finance too,
(13:04):
because it's very hard to get a financial return out
of So that has really been the focus we really
need to focus on. That climate change is here already,
it's effecting the continent and money needs to be spent
to protect the citizens of Africa from being affected as
hard as they are.
Speaker 2 (13:21):
Is there hope, you would say in more capital being
channeled towards some of those adaptation measures, then.
Speaker 5 (13:28):
Well, I think there've been a number of initiatives in
recent years in terms of, you know, trying to set
up specific funds and trying to steer more of the
spend by the developed world towards adaptation rather than mitigation.
But I think also we're in a climate where the
US is cut back massively on climate finance, and the
(13:49):
overseas development fund budgets of most of the rich nations
such as the UK, in Germany, Scandinavian nations has also
been slashed. So no, I think it's a very difficult time.
There's no the messages being made loud and clear, but
there's a limited pool of capital to be spent.
Speaker 2 (14:05):
Yeah, of course, and Lara, maybe you can just finish
us off. What's your expectation for the end of this
COP especially as it pertains to the African continent. Do
you think we'll actually see a joint communicate and potentially
addressing some of these issues that we've spoken about.
Speaker 1 (14:21):
That's a great question, and I wish I had a
crystal ball. I know that adaptation is a massive topic
at this PROP and so what I would hope to see.
What I would love to see is yes, a kind
of joint communication on it. And I'm kind of global
target for adaptation because I don't think we even have
one of those yet, So that's what I would love
(14:44):
to see. I can't say if that is what I
will see, because props can be very surprising.
Speaker 2 (14:49):
Yeah, I can say yes to that one, definitely. Lara
Williams and also Anthony's Cuisine. Thank you both so much
for joining us this week, and you can read Anthony's
report ord along with our coverage from COP thirty across
Bloomberg platforms. Now here's some of the other stories we've
been following from across the region this week. South African
(15:11):
Finance Minister Enoch Goodonguana delivered his budget update to lawmakers
in Cape Town on Wednesday, presenting an improved macroeconomic outlook
and plans to revise the country's inflation target. And Nigerian
billionaire Aliko dan Gote told reporters in the Zimbabwean capital
Harare that he plans to invest as much as one
(15:34):
billion dollars in the southern African nation. You can follow
these stories across Bloomberg, including the Next African Newsletter. We'll
put a link to that in the show notes. This
program was produced by Adrian Bradley and tiva Adebayo. Don't
forget to follow and review this show wherever you usually
get your podcasts. But for now, I'm Jennifer's Apisaja. Thanks
(15:57):
as always for listening.
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:09):
The Congo basin the world's biggest tropical carbon sink, is
at risk if defour station doesn't stop. Bold, urgent and
innovative actions are needed to prevent forests from turning from
carbon sinks into sources of emissions.
Speaker 3 (00:23):
Without stable and the resilient and forest carbon sinks, the
global goal or limiting temperature rise two one point five
becomes untenable.
Speaker 2 (00:34):
The report from scientists at COP thirty is the latest
warning about efforts to tackle a climate crisis that is
already hitting African nations hard.
Speaker 4 (00:46):
Those who have contributed the least to climate change are
paying the highest price. Our populations are hit by floods,
extreme droughts, erosion and food insecurity. Meanwhile, the funding remain
insufficiently fragmented, too often mistargeted.
Speaker 5 (01:03):
Fag Monte Mazibli.
Speaker 2 (01:07):
On today's episode of The Next Africa Podcast, we'll look
at this threat to the Congo Basin, why saving it matters,
and the state of the global response to climate.
Speaker 5 (01:17):
Change in twenty twenty five.
Speaker 2 (01:22):
I'm Jennifer's Abisaja and this is the Next Africa Podcast,
bringing you one story each week from the continent, driving
the future of global growth with the context only Bloomberg
can provide. Our senior reporter Anthony Squisine, who's been reporting
the story for Bloomberg News, joins us now along with
(01:42):
our Bloomberg Opinion climate columnist Lara Williams. Thank you both
for joining us this week. Really appreciate it.
Speaker 5 (01:49):
Anthony.
Speaker 2 (01:50):
Let's just start with you, because I believe you and
I have actually been at a COP summit before, so
you know, it's always interesting to sort of take a
look at what we've seen in the past and where
we're at right now. Brazil, though they've just heard this
stark warning about the Congo Basin, maybe you can give
us a bit of a detail about what exactly we're
(02:11):
talking about here and what the concern is.
Speaker 5 (02:16):
The Science Panel for the Congo Basin, which is a
relatively newly formed group, has decided to use the COCK
Summit in Belem to launch its first reports on the
state of the Congo Basin, which my area is the
second biggest tropical forest in the world, but it's actually
the world's biggest tropical carbon sink, which means it absorbs
(02:37):
more carbon than either the Amazon or the tropical forests
of Southeast Asia, and they've just brought to light a
few warnings about the health of the region, the fact
that deforestation is continuing a pace, and there were various
other threats. And I spoke to the Special Envoy for
the panel who estimated that it is a decade to
(02:58):
turn things around. As what's happened to the Amazon, the
region may become a net emitter rather than absorber of carbon.
Speaker 2 (03:06):
Can you explain more about the importance of the Congo Basin.
I mean, you walked us through a little bit there,
but maybe you can contextualize it for the audience.
Speaker 5 (03:15):
The Congo Basin is a very large area. It's a
little bigger than in India in total, stretches from Nigeria
to the Rift Valley in East Africa. In total, it
absorbs about six hundred million tons of carbon diks at
a year. That's the carbon DIX that's sucked in by
trees from the atmosphere, So that's a climate warming gas
(03:36):
that's being taken out of the atmosphere and stored in trees,
therefore not contributing to the warming up of the planet.
That's quite big. That's equivalent to the annular missions of Germany.
Which is a relatively large emitter. In addition to that,
it has wetlands called peatlands, which store semi decomposed material
and in those peatlands there are thirty billion tons of
(03:58):
stored carbon, So it's pretty major. That's from a common perspective.
In addition to that, it's a very large tropical forest
area and that regulates rainfall and climates across a much
broader region of Africa. So areas as far afield as
the Sawhill in West Africa and the highlands of Ethiopia
(04:19):
depend on what happens in the Congo basin where their
own rainfalls to regulate their own rainfall seasons every year.
Speaker 2 (04:25):
Wow, and we've already seen swings and uncertainty and inconsistencies
as far as some of the other countries go. So, Anthony,
what exactly is driving deforestation in the Congo And how
would you say it's different than what we're seeing elsewhere
in the Amazon, for instance, in the.
Speaker 5 (04:41):
Congo basin is very different from the Amazon and Southeast
Asia where agriculture is well to a certain extent, is
very commercial. So these these massive plantations being run by
big companies and we're see jungle being raised for soybean
farms or palm oil plantations in the Congo Basin and
really specifically the Democratic Republic of Congo, which accounts for
(05:02):
about two thirds of the forest area of that forest region.
There's a lot of subsistence agriculture where farming methods haven't
changed in hundreds or perhaps thousands of years. So every
year a family will go out and they will burn
down and clear perhaps a hecta of jungle and then
you know, plant crops in that area. Now that's problematic
(05:25):
in that it's trimming back the jungle, meaning the trees
can no longer absorb carbon. But it's also creating emissions
in that it's burning all the spio mass, and that
in itself is problematic. So it's quite a hard thing
to get a handle on because there are millions of
people involved in subsistence agriculture in the region and to
change those practices is quite difficult, especially given that a
(05:48):
lot of the governments in these countries are not that
well run. They're fairly chaotic countries. Some of them are
plagued by conflicts, especially in the DRC, and it's a big,
big issue try and turn that situation around.
Speaker 2 (06:02):
Lara let's just bring you in here. When you know
you've been following COP quite closely. How serious is this
warning being taken?
Speaker 1 (06:10):
Yeah, well, I think it's particularly salient for this top
which is you know, being held at the edge of
another tropical rainforest, and in the opening statement the terrelation
of rainforest nations, which I think encompasses most if not all,
of the countries in the condo basin. You know, they
took the opportunity to kind of urge action on deforestation,
(06:32):
and so yeah, I think at this particular TOP, reports
like this our front of mind. One of my sources
at COP told me that he is particularly impressed with
how many people are talking about bio diversity in nature,
which isn't always the taste at climate crops. You know,
often the focus is more on energy. But you know
what makes TOP COP is that you've got most of
(06:54):
the countries in the world there, there's a lot of
computing objectives, and so while there is a sense of
urgency and people are taking reports like this seriously, doesn't
necessarily mean that Regenera do at the action that we
really really want.
Speaker 2 (07:08):
Right, which is always the concern, Anthony, from your sources
on the ground, there in Belam. How seriously are they
taking this morning.
Speaker 5 (07:16):
I think that they're really looking for a big bank.
You know, this is how important the congurvation is. I mean,
this is, as Laura said, taking place at the HB Amazon,
which is probably the world's best known tropical forest. I'm
just saying, hey, this is also very important and things
need to be done to preserve its role in regulating
the international climates. So I think that's what they're aiming for.
(07:40):
We'll have to see what the reaction is where they
get much traction. You know, they've laid out very solutions,
a lot of which are as ever, are pleased for
more climate finance or money to be planned plot into
sustainable development. So far we haven't seen a huge amount.
I know that there has been a fund setup for
the Amazon itself, and while they're in some plages, it's
(08:01):
well shortened. The initial target.
Speaker 2 (08:03):
Stick with us both. When we come back, we'll talk
more about what this report is telling us about the
climate emergency in Africa and where any support is coming
from to try.
Speaker 5 (08:13):
And actually tackle it.
Speaker 2 (08:14):
We'll be right back. Welcome back. Today on the podcast,
we're talking about the stark warning about the future of
the congo basin delivered at this year's COP summit. Lara
Williams and Antony's Cuisine are still with me. Now before
we dig more into the solutions, Antony, I wonder, if
(08:37):
you know, it's been a few days that CoP's been
underway in Belem, does this one feel different? I mean,
Lara was pointing out the location of this, and I wonder, though,
with the previous cops that you've covered, does it seem
like there's at least a bit more urgency coming out
from the sources and the people that you've been speaking with.
Speaker 5 (08:54):
Well, I think it's a mixed picture. I mean, the
resurgency given that the states of the global climate interior
rating and you know, we're closer and closer to missing
our targets to limit global warming, So there is that.
But on the flip side, you know, we have the
US which is not at COP and a slashed funding
and is advocating more and more drilling for hydrocarbons. So
(09:17):
I think it's really a very mixed picture, and it's
hard to say it's going one way or the other.
Speaker 1 (09:23):
Lara, what would you say, Yeah, I'd say, you know
this this top has also faced some logistical problems being
held at you know, the edge of a tropical rainforest,
and so it's much smaller than previous drops. That's not
necessarily a bad thing. And you know, I think you
guys have been to drops before and I'm sure you've
felt the same kind of joy and hope. You know,
(09:45):
there's something about the atmosphere, a crop just you know,
everyone being there altogether. I have heard, you know, sources
talking about about that sense is still there even though
it is smaller. But yes, definitely, the US's absence is
kind of looming large though that is a sense that
that actually you know, could be better than them being there,
you know, considering that they're they're now almost to the
(10:07):
right of Saudi Arabia, who have consistently been a bit
of a sticking point in COP negotiations, and so maybe
there's a bit of a relief that they don't have
to deal with the US. Is like bullying tactics in
the neotiating rooms, and I think there is I know
from the Brazil presidency they really want to stress and
make this a cop for multilateralism, and so we've seen
(10:30):
that already with you know, there could have been in
a fight over the agenda of cop and that was
resolved very quickly. But we are still early days. I'm
talking to you now and there's only been one full
day of substantive negotiation. So we'll have to see if
that spirit of multilateralism continues.
Speaker 2 (10:48):
Yeah, especially in a world like we're in in twenty
twenty five, Laura, when we look at the major emitters
right of the world, who sort of would turn the dial?
I mean, who should we be focused on, because we
are obviously talking about the Congo basin today. Are some
of the remedies that we're looking for on the African
continent or is it some of these people who are
(11:09):
maybe not present.
Speaker 1 (11:11):
Yes, I mean it's definitely people who are not present. China.
China does actually have I know, there's not many senior
people from China there I believe, but they do have
the second's largest delegation at crop after Brazil, so you
know they are they are there, and there was a
new story this week about their emissions being either stable
(11:32):
or coming down. So so China, could you know, step
up and be a solution I guess a part of
the change. I guess In terms of Africa, I think
it's about avoiding We want Africa like lot, there's lots
of countries in Africa that are you know, still developing,
and we want them to develop in the in a
(11:55):
green way and kind of stip the coal fossil fuel
stage that all of the developed countries dot to do through.
And so key for that is getting climate finance from
you know, the lights of Europe, the richer countries in
order to help stale up the solutions in African countries.
Speaker 2 (12:13):
And just on that, Anthony, where where are some of
the debates around climate finance and the solutions that you
were just speaking to earlier.
Speaker 5 (12:21):
Well, I think the African continant is really pressing for
a switch away from so called mitigation, which is reducing
emissions by investing heavily and renewable energy and things like that.
Because Africa doesn't really produce a lot of emissions. Its
big problem is that it's catching the brunt of global warming,
(12:42):
so you know, typhoons, drafts, floods, and so it wants
more money for adaptation, which is you know, strengthening infrastructure,
putting in place early warning systems for weather disasters, and
a host of other things, even including sea walls, to
create you know it's basically cope with rising sea level,
and that's been a hard area to attract finance too,
(13:04):
because it's very hard to get a financial return out
of So that has really been the focus we really
need to focus on. That climate change is here already,
it's effecting the continent and money needs to be spent
to protect the citizens of Africa from being affected as
hard as they are.
Speaker 2 (13:21):
Is there hope, you would say in more capital being
channeled towards some of those adaptation measures, then.
Speaker 5 (13:28):
Well, I think there've been a number of initiatives in
recent years in terms of, you know, trying to set
up specific funds and trying to steer more of the
spend by the developed world towards adaptation rather than mitigation.
But I think also we're in a climate where the
US is cut back massively on climate finance, and the
(13:49):
overseas development fund budgets of most of the rich nations
such as the UK, in Germany, Scandinavian nations has also
been slashed. So no, I think it's a very difficult time.
There's no the messages being made loud and clear, but
there's a limited pool of capital to be spent.
Speaker 2 (14:05):
Yeah, of course, and Lara, maybe you can just finish
us off. What's your expectation for the end of this
COP especially as it pertains to the African continent. Do
you think we'll actually see a joint communicate and potentially
addressing some of these issues that we've spoken about.
Speaker 1 (14:21):
That's a great question, and I wish I had a
crystal ball. I know that adaptation is a massive topic
at this PROP and so what I would hope to see.
What I would love to see is yes, a kind
of joint communication on it. And I'm kind of global
target for adaptation because I don't think we even have
one of those yet, So that's what I would love
(14:44):
to see. I can't say if that is what I
will see, because props can be very surprising.
Speaker 2 (14:49):
Yeah, I can say yes to that one, definitely. Lara
Williams and also Anthony's Cuisine. Thank you both so much
for joining us this week, and you can read Anthony's
report ord along with our coverage from COP thirty across
Bloomberg platforms. Now here's some of the other stories we've
been following from across the region this week. South African
(15:11):
Finance Minister Enoch Goodonguana delivered his budget update to lawmakers
in Cape Town on Wednesday, presenting an improved macroeconomic outlook
and plans to revise the country's inflation target. And Nigerian
billionaire Aliko dan Gote told reporters in the Zimbabwean capital
Harare that he plans to invest as much as one
(15:34):
billion dollars in the southern African nation. You can follow
these stories across Bloomberg, including the Next African Newsletter. We'll
put a link to that in the show notes. This
program was produced by Adrian Bradley and tiva Adebayo. Don't
forget to follow and review this show wherever you usually
get your podcasts. But for now, I'm Jennifer's Apisaja. Thanks
(15:57):
as always for listening.
Host
Jennifer Zabasajja
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.