Millions of dollars pledged as Africa's landmark climate summit enters day 2
Dozens of world leaders and heads of state are gathered in Kenya’s capital, Nairobi, as the Africa Climate Summit 2023 — the continent’s first-ever climate summit — gets underway. African Heads of State, high-profile dignitaries and thousands of delegates are set to debate over continent’s pressing climate change challenges and forge a path to a more resilient and sustainable future for the continent. Launching the inaugural three-day summit on Monday, Kenya’s president William Ruto, stressed that “this is no ordinary summit.” “The time has come for us to break out of the shackles of low ambition. We must now begin to aim higher and strive for more, and better outcomes,” said Ruto. The president made his way to the summit by driving himself there in a small electric vehicle. “For a very long time, we have looked at this as a problem. There are immense opportunities as well,” he continued. Ruto also added that the continent holds the potential to transform into a global hub in the green industrial supply chain. “The continent has enough potential to be entirely self-sufficient with the mix of wind, solar, geothermal, sustainable biomass and hydropower,” he said. “Our ambition is audacious yet achievable: 100% renewable by 2030.” The Kenyan leader called on increased climate investment as his call was heeded with millions of dollars in investment pledged as the summit enters its second day. The UAE, which us due to host COP28, announced the biggest pledge so far with $4.5 billion towards clean energy initiatives. Speaking at the inaugural summit, U.S. Climate envoy John Kerry reflected on the “acute and unfair debt” of the climate crisis on the continent. “Of the 20 countries most affected by the climate crisis, 17 are here in Africa,” said Kerry. According to the Carbon Disclosure Project (CDP), Africa contributes just 3.8% to global greenhouse gas emissions. However, the continent has so far taken the brunt of the effects of the global warming crisis, according to many experts, and has experienced various climate-related disasters. At least 4,000 people have been killed, and 19 million more have been affected by extreme weather events in Africa since the beginning of 2022, according to research published by Science Direct. “20 countries produce 80% of all the emissions, mine is one of them,” said Kerry. “Twenty countries. And it is critical for all those 20 countries to immediately take steps to get on the path to the Paris agreement [to] keep 1.5 degrees alive.” Kerry today announced the U.S. intends to provide an additional $30 million in food security and climate resilience efforts across the continent. “I’m convinced that Africa can be at the heart of a renewable future,” said UN Chief Antonio Guterres. “From the Greater Horn of Africa, where over 85% of electricity generation comes from renewables, including massive hydropower projects in Ethiopia, Kenya and Sudan. To wind and solar projects in Egypt, Algeria, Tunisia, and Morocco. To Mozambique, which gets nearly 100% of its energy from green and sustainable sources.” “Now is the time for all countries to stand as one in defense of our only home.”
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”
Related Knowledge Center: Climate diplomacy
Talks are well underway in preparation for the next major international meeting on climate change, 28th Conference of the Parties (COP28), scheduled to begin Nov. 30 in the United Arab Emirates.
Much like last year’s COP27, finances — specifically, aid to developing nations — will be at the center of conference deliberations.
The conference faces an even greater sense of urgency brought on by the Sept. 8, 2023, release of the first global stocktake, which calls for accelerated action to meet the goals set in the 2015 Paris Climate Agreement (COP21).
Climate diplomacy: COP 27 | Climate diplomacy: COP 28 | Climate diplomacy: COP 29