Senegal - Country Climate and Development Report : Executive Summary (English)

Table of Contents

• Country Climate and Development Report 1
• WESTERN AND CENTRAL AFRICA 1
• Country Climate and Development Report 3
• WESTERN AND CENTRAL AFRICA 3
• Climate change is challenging Senegals development aspirations. 6
• Rising uncertainty overlapping crises and exposure to climate risks accentuate existing vulnerabilities and threaten the achievement of sustainable social and economic development. 6
• Senegals exposure to external shocks revealed the persistence of underlying key constraints to achieving productive sustainable and inclusive growth. 6
• Exposed coastal zones. 7
• Natural capital under pressure. 7
• More prevalent natural hazards. 7
• Worsening health status of populations. 7
• Climate change impacts are magnified by high levels of poverty and inequality. 7
• Climate inaction is costly while climate action will bring benefits. 8
• Recent global crises have emphasized the crucial need for accelerating structural change and fostering innovation to reach a more inclusive and resilient growth model. 8
• Figure ES.1. Cost of Inaction over Time Deviation in GDP from the Baseline 9
• The time for action is now. 9
• Climate-resilient low-carbon development growth can reduce annual economic losses and bring significant benefits. 9
• Figure ES.2. Poverty Reduction over Time due to the Implementation of Adaptation Measures Percentage Points Change Relative to a Climate Change Scenario without Adaptation 10
• The CCDR recommendations are prioritized along the sense of urgency 10
• Table ES.1. Recommendations for Climate Action 11
• From a transversal cross-cutting point of view two important conclusions are emerging 12
• The financing requirements of climate action are large but they are relatively small compared to Senegals economy 2.0 to 4.5 percent of cumulative GDP. 12
• Figure ES.3. Net Present Value of CA OPEX of Climate Action and Corresponding Benefits by Sector and Time Frame 12
• Senegals energy sector has experienced tremendous growth in the past decade serving as a catalyst for the countrys economic growth and shaping its role as a regional power hub. 13
• Significant investments will be needed in the short to medium term to ramp up the deployment of renewable energy at scale and implement the gas-to-power strategy which has been delayed. 14
• Improved natural resource management is a priority for resilient economic activities jobs and livelihoods. 15
• Water security in Senegal is threatened by deteriorating water resources and poor management and climate change will further compound these challenges. 16
• Climate change will increase pressure on ecosystems and the services they provide such as forests which are critical to sustaining economic development and livelihoods and mitigating climate change. 16
• Investing in sustainable cities will drive economic growth while increasing resilience and reducing climate impact. 16
• With almost half of its population living in urban areas Senegals level of urbanization 49 percent is higher than the average for SSA 42 percent. 16
• The CCDR underscores the urgency to take swift adaptation and mitigation measures to safeguard cities and regions against climate change. 16
• Digital innovations like smart city solutions integrating the Internet of Things IoT sensors and AI analytics are pivotal for urban climate resilience and sustainability 17
• If no action is taken to safeguard human capital climate change will inflict severe consequences on future generations. 17
• Climate change poses a long-term threat to Senegals young population and exacerbates gender and income inequalities. 18
• The impacts of climate change will also worsen the health status of the Senegalese population. 18
• Investing in human capital is essential for creating jobs that are resilient to the impacts of climate change and that can accompany the transition. 18
• Senegal is a party to the Paris Agreement on climate change and has committed to both adaptation objectives and GHG emissions reduction in its NDC. 19
• Achieving Senegals ambitious NDC goals will require substantial participation by the private sector both in developing climate solutions and participating in their financing. 19
• The CCDR estimates the financing needs of climate action at US1.36 billion per annum over to 2030 in present value discounted at 6 percent per year. 20
• Senegal can avail itself of various financing opportunities to address its joint development and climate needs drawing from a range of fiscal sovereign market and concessional sources as follows 20
• Carbon finance and energy subsidy reform 20
• The domestic financial sector 20
• Short-run priorities for DRF 21
• Senegals Sustainable Financing Framework 21