EU, U.S. Say Carbon Pricing Could Transform Africa’s Climate Change Battle

by Adenike Adeodun

African leaders rallied together at the African Climate Summit to address climate challenges. Research from Science Direct shows that in 2022, extreme weather in Africa impacted 19 million people and killed 4,000. Cyclones, floods, and droughts were notable events.

Leaders from nations including Tanzania, Rwanda, and Ghana, among others, committed to sustainable solutions for the climate crisis. The summit’s theme was “Driving Green Growth and Climate Finance Solutions for Africa and the World.”

Kenya’s Environment Minister, Soipan Tuya, spoke about the severe impacts of climate change on the continent. Citing instances like Hurricane Freddy in Malawi and droughts in the Horn of Africa, Tuya highlighted the urgent need for action.

She also drew attention to Africa’s limited contribution to global emissions. Yet, the continent faces the brunt of the adverse effects of climate change. She emphasised that the inaugural summit allowed African leaders to pave the way for green growth.

Notably, Kenyan President William Ruto was accompanied on the panel by global leaders, including Moussa Faki Mahamat of the African Union Commission and Ursula von der Leyen, President of the European Commission.

According to the report made by the Africa Energy Portal, the African Development Bank pledged $25 billion towards climate financing by 2025. Their president, Akinwumi Adesina, emphasized Africa’s potential for green growth.

EU President Ursula Von Der Leyen hailed Kenya’s new Climate Change Act. She spoke about the critical nature of carbon markets and urged the development of Africa’s green bond markets.

Kenyan President Ruto outlined the challenges climate change brings to Africa, highlighting the continent’s minimal contribution to pollution yet substantial impact from the climate crisis. U.S. Special Presidential Envoy for Climate, John Kerry, highlighted Africa’s potential in the climate dialogue and pledged the U.S.’s commitment to aid Africa’s efforts.

Finally, the COP28 President-Designate, H.E. Dr. Sultan Al Jaber, pressed for tangible actions rather than pledges. The African Development Bank estimates that $250 billion is necessary to meet Africa’s climate needs. Yet, the continent currently receives only a fraction of that amount. Jaber emphasized the importance of fair climate finance for Africa.

As climate change increasingly affects Africa, leaders worldwide have SEO joined forces to commit resources and strategies to address this urgent issue.

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