The Economic Fragility Index for Zimbabwe was marked at an average value of 104.75 index points with a minimum of 99.1 in 2021 and a maximum of 114 in 2009. The latest value from 2021 is 99.1 index points. For comparison, the world average in 2021 based on 173 countries is 66.40 index points. The index further asserts that in every five (5) countries around the world, four (4) fragile states are found in Africa. Southern African countries are part of the 193 nations that embraced endorsement of the 2015 Paris Agreement on Climate change and have tremendously done justice in delivering the much-needed policy legislation around low carbon pathways to meet the global targets.
However, the differences in terms of economic progressions between the global north and south have been a subject to debate. Nexus 1 countries also known as the developed world have achieved considerable steps in terms of industrial development. This outpaced the global south in terms of development and globalization. Today, the climate change phenomenon is calling for combined efforts in a more collective and sustainable manner to achieve the projected 1.5 degrees Celsius limit in global temperature increase.
The climate change predicament does not choose gender, race, colour, creed and even level of development. Judging by the level of atrocities poised by climate vagaries around the globe, it is now evident that the phenomenon is real. The developed world consented to honour its pledge by a constant flow of climate change funding mechanism towards the developing world. The idea around climate financing for the global south is to achieve the collective efforts towards climate justice. Since the Paris Agreement was entered into force, a number of climate change financing institutions have been channeling huge funding resources towards the global south.
Amid all this the greater proportion of the funding mechanisms are coming in the form of debts. It is against this backdrop that some civic societies in Africa have raised a red flag in weighing just transition in the context of economic fragility. Basically, the civic societies are concerned about Africa’s ability to pay back climate financing debts yet facing economic doldrums hence economic fragility. Some of the possible worries where tabled at the civic stakeholder engagement recently held by Reyna Trust in Harare, Zimbabwe. The engagement dubbed the “National Budget Analysis on Climate and Environment: All Stakeholders Sustained Dialogue” mapped recommendations for the Government of Zimbabwe to adopt solid measures in pursuit of strategic climate financing mechanisms.
Reyna Trust frantic personnel Sydney Chisi reiterated that Africa is faced with two scenarios of climate change vagaries and economic fragility. The disbursement of climate funds will further widen the foreign debts that have been a major attribute for Africa, causing it to remain in a fragile state.
“We need to remind our governments that the foreign debts are accumulating. Before climate financing we were already having accumulating debts in other areas. Now that we have the global north channeling huge funds towards global south it is now quite obvious that the debts will continue to accumulate. This means that, we are borrowing and at a time when our economies are in a fragile state.”Chisi advises that it’s high time governments and African negotiators face the reality of the moment in pursuit of climate justice. Holding the global north accountable for the current unprecedented climate phenomenon will be relevant and key.
“It is high time our governments face the reality. We cannot continue to borrow at our own costs. climate justice has to prevail and be justified. The best measure is to hold the biggest emitters accountable to the current climate change scenarios affecting the global south. ” Thereby making them pay for them.
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