Somalia Unveils $12.8 Billion Climate Investment Plan at COP31

GOOBJOOG NEWS | ANTALYA: Somalia has unveiled a $12.8 billion national climate investment plan aimed at strengthening resilience to droughts, floods and other climate-related threats over the next decade.

President Hassan Sheikh Mohamud launched the plan on Thursday in Antalya, Turkey, alongside Environment and Climate Change Minister Bashir Mohamed Jama, on the sidelines of the COP31 climate summit.

The investment framework comprises seven pillars, 27 programmes and 44 investment initiatives covering agriculture, livestock, fisheries, water, energy, health and environmental protection.

The government estimates that implementing the plan will require $12.8 billion over the next 10 years, highlighting the scale of investment needed to address Somalia’s vulnerability to climate change and strengthen the resilience of communities and key economic sectors.

Speaking at the launch, President Mohamud said Somalia had made considerable efforts to develop strategies for addressing climate challenges but stressed that international financing and partnerships would be essential to putting those plans into action.

He said investment was particularly important in reducing the impact of recurring droughts and floods while strengthening communities’ ability to withstand climate-related shocks.

Representatives from Denmark, the World Bank, United Nations agencies and the African Development Bank attended the launch, with discussions focusing on potential financing opportunities and support for implementing the plan.

The initiative comes as Somalia seeks greater international climate financing to address environmental pressures that have contributed to displacement, food insecurity, livestock losses and damage to livelihoods.

The challenge now will be to mobilise the required funding and translate the proposed investment initiatives into projects capable of delivering tangible benefits to communities across the country.