The President, African Development Bank (AfDB), Akinwumi Adesina, has affirmed the bank’s readiness to champion the implementation of the ‘polluter pays’ principle, reports NaijaAgroNet.
The principle is an environmental law enacted to make the party responsible for producing pollution to pay for the damage done to the natural environment. Adesina added that the bank will work with member countries and partners to support governance reforms, continental risk transfer and risk-sharing schemes. In addition, they will build institutions that will support greater social and economic resilience in the face of climate change.
The AfDB president was addressing a delegation of ministers representing more than 40 nations in Paris to push for a ‘New Deal on Energy in Africa’ to solve Africa’s energy crisis.
Adesina, NaijaAgroNet gathered, also called for strong political will, sharply focused partnerships and ambitious financing programmes to address climate and its impact on the millions of people whose livelihoods are under threat.
“We need to support initiatives that address risks associated with climate change, and build disaster-response capacity and recovery programmes for those who are most affected.
“This includes building their assets, providing catastrophic bonds, weather index insurance schemes, and crop/livestock insurance for farmers and rural populations, he stated.”
The AfDB president also held bilateral talks with Laurent Fabius and Helene Le Gal, Adviser to the President of France, and senior officials of the Agence Française de Développement to discuss strategic partnerships between the Bank and France, NajiaAgroNet learnt.