Kenyan President William Ruto urged African leaders to present a united front at the upcoming United Nations climate conference, calling for a fairer global climate financing system. Speaking at a meeting of the Committee of African Heads of State and Government on Climate Change (CAHOSCC) during the 79th UN General Assembly in New York, Ruto emphasized the need for reforms to increase investment in Africa’s energy transition and climate adaptation efforts.
“The focus at COP29 in Baku, Azerbaijan, should be on securing an equitable climate financing mechanism that addresses the needs of Africa and other developing nations,” said Dr Ruto, who chairs CAHOSCC.
He pointed out that only 3% of global investments go toward energy transition, which is inadequate to address the worsening impacts of climate change. Africa, though contributing the least to global carbon emissions, faces the most severe consequences such as droughts and floods.
“As climate-related shocks increase in frequency and severity, coupled with high interest rates and credit downgrades, refinancing becomes more expensive, and governments’ capacity to invest in green resilience is constrained,” he added.
At the meeting, African Union Commission Chairperson Moussa Faki Mahamat echoed Ruto’s call for unity in securing increased climate financing. Ruto also hosted the first Steering Committee Meeting of the African Green Industrialisation Initiative (AGII), aimed at unlocking investments for green industrial projects across the continent, crucial for Africa’s economic transformation.
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