Our theme, "Raising Africa's ambition to address land degradation, desertification, and drought," is not just timely, it is vital.

The urgency is clear. Climate change, pollution, and biodiversity loss are intertwined crises that threaten our very existence. These are not just environmental issues; they are economic and social challenges that threaten the very fabric of our societies and demand our immediate and united action.

The stakes are high. Climate change is costing African economies up to 15% of GDP annually. Governments are diverting up to 9% of their budgets to cope with extreme weather, while grappling with debt distress, facing difficult trade-offs between climate action and meeting critical development needs, such as health and education. Meanwhile, 65% of our arable land is degraded, costing us $68 billion annually in lost productivity. Deforestation rates are twice the global average, further undermining our agricultural output and ecosystem services.

We must act now. Programs like REDD+ ("Reducing emissions from deforestation and forest degradation in developing countries"), which seeks 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 per ton, compared to $120 in more mature markets. Balancing carbon credit initiatives with the needs of communities including their access to forest resources for sustainable development is key; and developing a high-integrity African carbon market that unlocks our potential and ensures equitable pricing for all is a strategic priority.

Our collective strength is our greatest asset. The ECA is committed to supporting our member states in addressing climate change, land degradation, and deforestation through initiatives like: developing harmonized protocols for carbon accounting; enhancing access to climate finance; working with UNFCCC to align our Nationally Determined Contributions with global recommendations; and strengthening the capacity of the African Group of Climate Negotiators as well as equipping them with evidence-based tools and resources.

In conclusion, the challenges we face are immense, but so are the opportunities for Africa to lead with innovative, sustainable solutions. By leveraging our collective strengths and deepening our collaboration, we can protect our ecosystems, empower our communities, and drive sustainable development This path forward will require commitment, both in resources, policy, and action. Together we can build a resilient future for Africa for our children and future generations. Let us transform out ambition into action.

By Hanan Morsy

Deputy Executive Secretary and Chief Economist of the United Nations Economic Commission for Africa