Kenyan President William Ruto said African leaders need to present a united front at the upcoming United Nations climate change conference to demand a fairer global climate finance system.
Speaking at a meeting of the African Heads of State and Government Commission on Climate Change (CAHOSCC) held on the sidelines of the 79th United Nations General Assembly in New York, Mr Ruto called for reforms to increase Africa’s energy transition and investment in the energy transition. He appealed to the African continent to move forward. Strengthen climate adaptation efforts.
CAHOSCC Chair Dr. Ruto said, “COP29 in Baku, Azerbaijan should focus on ensuring an equitable climate finance mechanism that responds to the needs of Africa and other developing countries.”
He stressed that current levels of investment (only 3% invested in the global energy transition) fall far short of the level of investment needed to combat the worsening effects of climate change.
President Ruto’s comments come as African countries face the challenges of climate change, from droughts to floods, with the continent contributing the least to global carbon emissions yet being the most severely affected. It was held in
He emphasized the need to invest in renewable energy, sustainable agriculture, green transport and nature-based solutions to ensure Africa’s transition to a low-carbon and climate-resilient future.
“These investments are essential not only for Africa but also for the entire international community,” Ruto said.
The Kenyan president also emphasized the importance of debt sustainability and reform of the international financial system, highlighting that high debt servicing costs are straining African countries’ ability to finance climate projects. did.
He added: “The increasing frequency and severity of climate-related shocks, combined with high interest rates and credit downgrades, are making refinancing more expensive and limiting governments’ ability to invest in green resilience.”
Sign up for free AllAfrica Newsletter
Get the latest Africa news delivered straight to your inbox
success!
Almost completed…
You need to confirm your email address.
Please follow the instructions in the email we sent you to complete the process.
error!
A problem occurred while processing your submission. Please try again later.
The CAHOSCC meeting was also attended by African Union Commission Chairman Moussa Faki Mahamat and Mauritanian President Mohamed Ould Ghazouani, who laid the groundwork for an African strategy ahead of COP29.
Mr Mahamat echoed Mr Ruto’s call for unity, stressing the importance of a united African stance to secure increased climate finance.
Prior to this, Dr. Ruto served on the inaugural steering committee of the Africa Green Industrialization Initiative (AGII), a platform aimed at unlocking investment potential in large-scale green industry and infrastructure projects across Africa. hosted the meeting.
The initiative aims to foster partnerships between African leaders and stakeholders in finance, industry and philanthropy.
“This initiative is key to linking value chains across the continent and driving Africa’s economic transformation through green industrialization,” Ruto said.
The African Union has warned that some countries on the continent are already experiencing GDP losses of up to 5% due to the effects of climate change, underscoring the urgent need for concrete action at COP29. .
