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Stakeholders pledge $23 billion to tackle climate change

Stakeholders in the just concluded Africa Climate Summit have pledged a $23 billion (Ksh 3.4 trillion) to African countries in tackling effects of climate change. 

In his closing remarks, Kenya’s President William Ruto disclosed that the amount will go towards green development, mitigation and adaptation efforts across the continent.

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Other notable gains Africa is set to benefit from include:

  • A transformative partnership investing $60 million over two years in expanding grid access in rural Burundi.
  • A $4.5 billion commitment from the UAE to boost renewable energy.
  • Substantial contributions from European nations, and significant investments from private sector entities like Masdar, PowerGen, Leapfrog, Cross Boundary and Husk Power, emphasizing renewable energy initiatives.
  • The signing of Kenya’s Green Hydrogen Strategy with the European Union is expected to drive and accelerate green manufacturing and create thousands of new, high value jobs in addition to attracting large private investment.
  • Additionally, there has been a notable increase in adaptation financing, reflecting a deep commitment to Africa’s sustainable future and energy systems, aligning with the ambitious Nairobi Declaration.

President Ruto said the Nairobi Declaration will set the stage for a new phase in the global climate action.

“The Nairobi Declaration, our common stand and firm resolution, reaffirms our determination and sets the stage for a new phase in the global climate action and sustainable development agenda, giving the future of socio-economic transformation a distinct and affirmative African character,” the Head of State said.

He said from the collective action during the summit, there can no longer be any doubt from any part of the world that Africa, is where the future of humankind lies.

The President lauded his counterparts for their participation saying their presence has sent an emphatic signal throughout the world that a new Africa is here, and that it means business.

“Your participation in the Summit has further demonstrated your individual as well as our collective dedication to represent our peoples and champion their most important aspirations in every critical forum regionally, continentally and globally,” Dr. Ruto said.

The Summit presented an opportunity to African governments to join forces on solutions on Climate challenges and opportunities.

During the three-day summit, African Heads of State agreed to lead the way in finding sustainable solutions to the climate crisis and expressed their intention to collaborate with developed nations while also reminding them of their climate action commitments.

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