Saturday, January 11, 2025
30 C
Brunei Town
More

    Africa seeks to tap investment on climate action

    AFP – Kenya’s president opened a landmark African climate summit yesterday saying the continent had an “unparalleled opportunity” to benefit from action to tackle global warming.

    The inaugural Africa Climate Summit in Nairobi comes ahead of a flurry of diplomatic meetings leading to the November COP28 climate summit in the oil-rich United Arab Emirates, which will likely be dominated by clashing visions for the world’s energy future.

    The three-day event is billed as bringing together leaders from the 54-nation continent to define a shared vision of Africa’s green development — an ambitious aim in a politically and economically diverse region whose communities are among the most vulnerable to climate change.

    “Delivering prosperity and wellbeing for Africa’s growing population without pushing the world deeper into climate disaster is not an abstract proposition, or mere wishful thinking. It is a real possibility, proven by science,” President William Ruto said in his opening address.

    “The overarching theme… is the unparalleled opportunity that climate action represents for Africa,” he said.

    “For a very long time we have looked at this as a problem. It is time we flipped and looked at it from the other side,” Ruto said.

    “We must see in green growth not just a climate imperative but also a fountain of multi-billion-dollar economic opportunities that Africa and the world is primed to capitalise.”

    Climate activists in a march in Nairobi, Kenya. PHOTO: AFP

    Africa, he said, had the potential to be entirely energy self-sufficient through renewable resources, noting that Kenya itself aimed to be “100 per cent renewable” by 2030.

    Ruto has said that the international community must help unblock financing for the continent of 1.4 billion people and ease the mounting debt burden on African countries.

    Joseph Nganga, Ruto’s appointee to head the summit, said the conference would demonstrate that “Africa is not just a victim but a dynamic continent with solutions for  the world”.

    Security has been tightened and roads closed around the summit venue in central Nairobi, where the government says 30,000 people have registered to attend the event.

    Despite hosting 60 per cent of the world’s best solar energy resources, Africa has roughly the same amount of installed capacity as Belgium, according to a commentary published last month by Ruto and the International Energy Agency chief Fatih Birol.

    Currently, only about three per cent of energy investments worldwide are made in Africa.

    Charra Tesfaye Terfassa from the think tank E3G said the summit should balance optimism with a tough assessment of the challenges to “chart a new path for Africa to be a key part of the global conversation and benefit from the opportunities of the transition”.

    The Nairobi meeting is expected to draw several African heads of state, United Nations head Antonio Guterres, European Union chief Ursula von der Leyen and other leaders.

    spot_img

    Related News

    spot_img