Nigeria, other African countries lose $68bn yearly to degradation—ECA

The Economic Commission for Africa says 65 per cent of Africa’s arable land is degraded, costing it $68 billion annually in lost productivity. Hanan Morsy, the deputy executive secretary and chief economist of the United Nations Economic Commission for Africa (ECA), said this in a statement. Ms Morsy spoke at the 10th Special session of the African Ministerial Conference on the Environment. “The stakes are high. Climate change is costing African economies up to 15 per cent of gross domestic product (GDP) annually. Governments are diverting up to nine per cent of their budgets to cope with extreme weather. It is also grappling with debt distress, facing difficult trade-offs between climate action and meeting critical development needs, such as health and education,” Ms Morsy stated. According to Ms Morsy, deforestation rates on the continent are twice the global average, further undermining our agricultural output and ecosystem services.

“We must act now,” she warned. Ms Morsy added, “Programmes like reducing emissions from deforestation and forest degradation in developing countries (REDD+) which seek to reduce emissions from deforestation are crucial, but we need more. “Carbon markets must be fair, with prices that reflect the true value of our efforts. Currently, African carbon credits are undervalued, often less than 10 dollars per tonne, compared to 120 dollars in more mature markets.” According to Ms Morsy, balancing carbon credit initiatives with the needs of communities, including their access to forest resources for sustainable development, is key. The UN official stressed that developing a high-integrity African carbon market that unlocked our potential and ensured equitable pricing for all was a strategic pre-priority. The economist also mentioned that climate change, pollution, and biodiversity loss were intertwined crises “that threaten our very existence.” She said these were environmental issues and economic and social challenges threatening societies. Ms Morsy said the ECA was committed to supporting member states in addressing climate change, land degradation and deforestation through various initiatives. NAN