The Africa Climate Summit 2023 has culminated in the Nairobi Declaration, with the continent’s leaders asking developed nations to honour their commitments to provide $100 billion in annual climate finance.
African heads of state and governments on Wednesday also called for urgent reform of multilateral financial system in their bid to secure funding for climate mitigation and climate adaptation projects.
The declaration calls for “a new financing architecture that is responsive to Africa’s needs including debt restructuring and relief”, as frustration mounts over the high cost of financing on the continent.
Read: Ruto urges global lenders to be fair to Africa
It also asks rich carbon polluters to honour long-standing climate pledges to poorer nations and urges world leaders to back a proposed “carbon tax on fossil fuel trade, maritime transport and aviation”.
The 54-nation continent is acutely vulnerable to the growing impacts of climate change, but the summit largely focused on calls to unlock investment in clean energy.
“A new Africa is there, and it means business,” Kenyan President William Ruto said.
The summit saw funding pledges worth $23 billion “for green growth, mitigation and adaptation efforts” across the continent.
Source: The East African
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