ActionAid Malawi says it is geared to launch a Climate Justice Campaign dubbed ‘Fund Our Future’ this morning at Bingu International Convention Centre in Lilongwe.
The launch will go alongside a presentation of a groundbreaking report on how banks are fuelling the climate crisis amidst extreme and intense weather patterns that are increasing food insecurity, poverty and inequality in climate-vulnerable countries such as Malawi.
The report highlights among others that since the Paris Agreement in 2016, banks have provided 20 times more financing to fossil fuels and industrial agriculture activities in the Global South than Global North governments have provided as climate finance to countries on the frontlines of the climate crisis.
Commenting on the findings, ActionAid Malawi Executive Director, Pamela Kuwali, said the “Fund Our Future” campaign will mobilise the youth, young women and climate change activists, social movements and collectives in the country to call for disinvestment in fossil fuels and industrial agriculture and promote the use of climate-friendly energy sources and agricultural practices.
“Government must start investing in agroecology which guarantees cultivation on a sustainable basis without destroying the soil.
“Secondly, banks and corporates must stop financing climate harmful industrial agriculture and energy sources, but instead, proactively put in place measures that would enhance climate responsive investments. Development partners must also ramp up investment in climate resilience programmes targeting those on the frontlines of the climate crisis,” said Kuwali.
The campaign by ActionAid follows the devastation the country experienced with the longest-lasting Cyclone Freddy. Records indicate that over 1,000 lives were lost, 564,771 displaced and over 220,000 farmers’ fields and crops including infrastructure across the country’s Southern Region were destroyed.