02565nam a22001097a 4500100001600000245006300016260003600079300000800115520217400123650005002297856010802347  aNew African  aTackle climate change and illicit financial flows together  aLondon:   bNew African,c2014.  a3p.  aThe article looks at the relation between IFFs and Climate change,the argument being that  the continent may need to raise the funds itself to fight climate change , and curbing illicit financial flows could be a start. As the droughts in the Horn of Africa in 2011 and the Sahel in 2012 starkly exhibited, climate change is not just an abstract issue or future risk for Africa. The continent is feeling the effects now and urgently needs financing to help it adapt, going forwards. The international community has attempted to get some financial assistance to meet these costs from developed countries but there is a huge discrepancy between the amounts required and what has been secured so far. It has been suggested that Africa has the potential to fund its own development through domestic resource mobilisation. But one major obstacle in this is illicit financial flows (IFFs), which are a significant drain on Africa’s tax base. Startlingly, illegal outflows from Africa to developed countries considerably outweigh assistance inflow to Africa. About 60% of IFFs are believed to leave through tax evasion and profit-shifts by corporates, followed by corruption and criminal activities, which account for around a third of the total. If retained within the continent, these funds could be substantial resources for urgent development issues such as climate adaptation. International co-operation will be crucial in combating the problem and efforts will need to be made from both source and destination countries. As the world looks towards COP21, to be held in Paris in 2015, many will be hoping a legally-binding climate change deal will be reached. However, one potentially significant source of funding for adaptation could come from curbing IFFs. Such resources could be essential in helping to develop pilot projects, improving capacity building, stimulating more innovative mechanisms, such as mobilising private finances, and be used as targeted fiscal stimuli and catalysts in climate change adaptation. Africa urgently needs funding for climate change adaptation. Plugging the illicit flow of money out of the continent would be a good place to start.  aCAPITAL FLIGHT, DEBT, CORRUPTION, ENVIRONMENT  uhttp://iffoadatabase.trustafrica.org/iff/tackle_climate_change_and_illicit_financial_flows_together.pdf