At COP 26 which is currently being held in Glasgow in Scotland, Burkina Faso is in a charming operation to hope to obtain from partners more external funding for the benefit of the environmental intervention fund (FIE), created in 2013 to cope to climate risk and environmental challenges.
FIE Climate Finance Initiatives is the activity organized by the Environmental Intervention Fund on Tuesday at the La Francophonie climate pavilion in Glasgow. An event to attract partners to further finance the actions of the FIE. A real operation of charm.
At the climate pavilion of La Francophonie, there were many delegates and partners who followed the plea of the FIE on Tuesday. The advocacy team was led by Minister of Environment, Green Economy and Climate Change Siméon Sawadogo.
“The main objective of this activity is to present the actions of the FIE in terms of environmental preservation and the fight against changes (adaptation and mitigation) and to generate partners for the financing of projects”, declared Dr. Jean. -Marie Sourwema, Director General of the FIE.
Burkina Faso, like many Sahelian countries, has been confronted in recent years with enormous problems and challenges of sustainable management of the environment and natural resources.
According to the Burkinabè government, the continued degradation of the country’s forests and ecosystems has been estimated at around 250,000 hectares on average each year. This situation would be due, among other things, to the harmful effects of climate change and the various anthropogenic pressures exerted on natural resources (anarchic gold panning, straying of animals, excessive cutting of wood, occupation of protected areas, etc. :).
The FIE to face climate change
This degradation has resulted in the regression of plant cover and the weakening of ecosystems; decline and loss of land fertility; food insecurity, loss of jobs and income for populations living at the expense of natural resources; conflicts between different land users; loss of biological diversity; the accentuation of the effects of climate change, etc …
Annual losses related to environmental degradation in Burkina Faso are estimated at CFAF 760 billion (EUR 116,1082745), or about 20% of GDP. On the social level, these negative impacts particularly affect the poorest households, which derive the majority of their income from agriculture, animal husbandry and natural resources in general.
Faced with this situation, Burkina Faso has developed several initiatives including the creation in 2013 of the FIE to respond to the country’s environmental challenges. The primary goal of this financial instrument is to support the achievement of the country’s environmental objectives in terms of living environment, sustainable management of natural resources and growth patterns ensuring sustainable development.
81 projects funded in the areas of climate change
Dr. Jean-Marie Sourwema, Director General of the FIE, declared that the FIE has funded 370 projects since its creation, 81 of which are in the areas of climate change and around a hundred sponsored by women’s organizations. It has helped finance 32 municipalities in Burkina Faso to the tune of 9,116,451 euros for investments intended to reduce deforestation in the country.
In 2017, a study carried out in Burkina Faso showed that the FIE made it possible to create 178.54 ha of forest through forest management activities, to recover 11,169 ha of land and to plant 377,390 seedlings.
For the period 2021-2025, the fund intends to mobilize additional resources to finance its initiatives and projects with a high impact on the adverse effects of climate change and the development of a green economy taking into account gender and environmental standards and social.
The majority of its resources are made up of grants; contributions from technical and financial partners; contributions mobilized from financial mechanisms and contributions or funding delegated by projects and programs.
“Dealing with climate change requires enormous funding”
Through this charming operation at COP 26, Burkina’s ambition, according to Minister Siméon Sawadogo, is to achieve accreditation to the Green Climate Fund (GCF) to mobilize more resources for impactful projects. and be a fiduciary partner of international funding mechanisms. In the process of engagement with the Green Climate Fund, Burkina Faso has set up an executive secretariat of the Green Climate Fund (SE-FVC / BF). Before coming to COP 26, the executive secretariat for the Burkina Green Climate Fund held a meeting last September to “harmonize points of view, ensure that there is a synergy of actions to achieve the objectives set. to have the Green Climate Funds ”.
“In Burkina Faso, today we have a portfolio of nearly eight projects, and we have three projects in writing. We think that with this, we must ensure that the conditionalities and the various requirements that have been requested by the Green Climate Fund, we can effectively ensure that this is carried out ”, declared the Minister of the Environment, of the green economy and climate change, Siméon Sawadogo on this occasion.
In Burkina Faso, the mobilization of climate finance is considered one of the main mitigation measures to face the risks inherent in the emergency. Because, according to Minister Sawadogo, “dealing with climate change requires enormous funding and this cannot be possible without real synergy between government actors, local authorities, the private sector, civil society and technical and financial partners” . The delegation of Burkina Faso to COP 26 hopes that its advocacy will have a favorable response and that its objectives will be achieved.