Poverty could affect more than 1.6 million Mozambicans by 2050 if investments are not made in climate resilience, said the Minister of Planning and Development, citing data from the World Bank (WB).

And this likely scenario is to blame for the natural disasters that have hit the country so hard. In fact, the data confirms this. In the last 35 years, the country has suffered 52 natural disasters, including 14 tropical cyclones, and from 2000 to 2019, it ranked as the 5th most affected country in the world.

"The challenge before us is immense. To achieve full climate resilience of physical and natural human capital by 2030, according to World Bank estimates, Mozambique needs to mobilize 37.2 billion dollars," said the Minister of Planning and Development, Salim Valá.

"If we don't, more than 1.6 million Mozambicans could be pushed into poverty by 2050 due to the combined impacts of climate shocks and environmental degradation," he added, quoted by the newspaper "O País".

Valá recalled that the figures are not just statistics. They are lives, families, the future of Mozambican children, adolescents and young people

In order to avoid this damage, the government has launched the National Climate Financing Strategy 2025-234, which provides for the exploration of debt-for-climate exchange mechanisms, similar to countries such as Cape Verde.

"The carbon market is already beginning to position Mozambique as a regional leader, as a result of the partnership with the African Carbon Marketing Initiative, which is preparing to launch the activation of the carbon market. Similarly, the recent debt swap with Belgium that converted 2.4 million euros into climate investment is a tangible example of how economic diplomacy can generate positive environmental and social impacts," said Valá.

It should be noted that Belgium and the United Kingdom are willing to support Mozambique in accessing funding to invest in the climate, but suggest including the private sector.

Delphine Perremans, Ambassador of the Kingdom of Belgium says it is important to have the necessary tools to involve the private sector, as well as to implement reforms to create a favorable environment.

For his part, Domonic Ashton, deputy high commissioner of the United Kingdom suggests that, in order to stand out, Mozambique must strengthen the technical quality of its projects and demonstrate clarity, strategy and strengthen institutional capacity to manage funds through reforms that promote transparency and sustainable financial management.

World Bank estimates also indicate that the impact of climate change could lead to a reduction of between 4% and 14% in Mozambique's Gross Domestic Product (GDP) between 2040 and 2050.