President Hage Geingob says it is regrettable that only US$23 billion has been committed to the Green Climate Fund thus far, as developing countries continue to battle the effects of climate change.

Dr Geingob put forward Namibia’s position in the national statement submitted to the COP27 meeting underway in Sharm el-Sheikh, Egypt.

Namibia, President Geingob says, encourages developed countries to support developing countries by capitalizing on the Green Climate Fund. 

The Green Climate Fund, a critical element of the 2015 Paris Agreement, is mandated to support developing countries to respond to climate change, implement their Nationally Determined Contributions, and maintain low emissions.

President Geingob says COP27, dubbed the ‘African COP’, will thus serve as a potential tipping point for creating consensus in the mobilization of support in practice.

The ‘African Cop’, Geingob argues, offers another opportunity for the international community to bring its full weight behind efforts to support developing countries and ensure full implementation of commitments under the Paris Agreement and COP26.

The President outlined that Namibia’s priorities include urging the scaling up of levels of climate financing through concrete long-term targets and for the collective goal of developed countries to reach US$100 billion a year from 2025 and beyond.

Dr Geingob also called for the equal splitting of climate finance between adaptation and mitigation programs and the acceleration of climate technology transfer.

Namibia, Geingob emphasized, will continue to strengthen efforts toward greening the economy through ongoing efforts to support the green hydrogen industry.

The country remains well-positioned to become a major supplier of clean and green energy to the world, as outlined in the second Harambee Prosperity Plan.

The Namibian leader joined fellow world leaders to appeal for sustained efforts towards limiting global warming to 1.5°C above pre-industrial levels.