G20 Compact: Minister Adama Coulibaly Urges Continued Support for Climate Reforms

On Wednesday, September 25, 2024, in Abidjan-Plateau, Côte d'Ivoire’s Minister of Finance and Budget, Adama Coulibaly, called on technical and financial partners to sustain their efforts in supporting climate reforms in G20 Compact countries. His statement was made during the opening ceremony of a peer-learning seminar under the G20 Compact, co-hosted by the Ivorian government and the African Center for Economic Transformation (ACET). The event, running until September 27, 2024, focuses on the theme "Investing in Climate."

"Climate change heavily impacts our economies and populations, as highlighted in the 2023 State of the Climate report by the World Meteorological Organization," stated Adama Coulibaly. He noted that in Côte d'Ivoire, a climate and development assessment conducted with the assistance of technical and financial partners, including the World Bank, revealed that climate change could reduce potential growth by as much as 13% of GDP by 2050 if no proactive measures are taken.

With the adverse effects of climate change often intensified by various crises, Minister Coulibaly called for the "implementation of robust actions to avoid undermining the economic development progress made by our countries." He also emphasized the significance of this seminar, which provides an opportunity to explore concrete investment solutions to address the climate emergency.

Regarding Côte d'Ivoire specifically, he outlined several ongoing climate-related reforms and initiatives that present opportunities for the private sector. The seminar was attended by the German Ambassador to Côte d'Ivoire, Matthias Veltin, and the Brazilian Ambassador, José Cardes De Avargo Jeita.

It is worth noting that the G20 Compact with Africa initiative, launched in 2017 during Germany’s G20 presidency, is now being championed by Brazil.