Africa: Africa Climate Summit 2023 – A $23 billion pledge

Africa: Nairobi Climate Summit - Will Africa Pay For Its Own Mistakes In Cash?

A global carbon tax and reform of international financial institutions to fund climate action in Africa are recommended in the “Nairobi Declaration” adopted on September 6 in Kenya after the first African Climate Summit, the Africa Climate Summit 2023.

This declaration aims to enable the continent to speak with one voice in future climate discussions. However, the negotiations among African states to reach this declaration were challenging. After the Africa Climate Summit, held in Nairobi, Kenya, the final declaration highlights Africa’s potential to be part of the solutions in the fight against climate change.

- Advertisement -

According to RFI, African heads of state and government have committed to developing renewable energy, agriculture, and encouraging green industries.

But they also strongly emphasize the need for funding. The text calls on the international community to honor its promises, such as the $100 billion per year pledged in 2014 and the establishment of a mechanism for loss and damage announced during COP27.

It is worth noting that the “Nairobi Declaration” is inspired by Kenya’s presidency, a model country for green transition on the continent. It called for intensified investments in renewable energy, which presents an opportunity for Africa, according to Kenyan President William Ruto. He announced that $23 billion in investments had been pledged during these three days of the summit, including $4.5 billion from the United Arab Emirates, who will host the next COP.

Furthermore, the final text of the Africa Climate Summit 2023 is more demanding, with African states calling for the establishment of a global carbon tax and the creation of new IMF special drawing rights for the “climate,” similar to those allocated to poor countries in response to COVID-19. They also urge that Africa, burdened by debt once again, has access to affordable financing for its energy transition and adaptation to climate change.

Carbon and Biodiversity Sinks

The declaration now acknowledges that 600 million Africans still lack access to electricity and clean cooking. This can be seen as influenced by African gas-producing countries, who argue that this fossil fuel is less harmful than charcoal.

The forests of the Congo Basin, which were overlooked in the initial version, now have a paragraph highlighting their carbon and biodiversity storage, as well as the oceans, where African states want their share of resources, especially minerals, from the seabed.

Meanwhile, the Chairperson of the African Union Commission, Moussa Faki Mahamat, announced that this declaration was unanimously adopted after “three days of intense debates and exchanges.” He applauded the success of the summit, as did Kenyan President William Ruto, and proposed that the Africa Climate Summit be held every two years from now on.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept