Carbon dioxide emissions must be reduced, Kagame tells Western countries

CAIRO – Rwandan President Paul Kagame has told Western nations to cut carbon emissions and also increase investment in Africa to build sustainable green power.

He pointed out that the world should prioritize renewable energy to help reduce carbon emissions and also generate carbon credits.

- Advertisement -

Rwanda’s head of state spoke during the ongoing 27th United Nations Climate Change Conference (COP27) taking place in Egypt.

Carbon credits derive from a market system where an entity that reduces emissions significantly beyond the required levels sells them to those who cannot meet their reduction requirements.

“The only contribution we are asking developed countries to make is to reduce their emissions faster while investing with Africa to build sustainable green power.”

President Kagame also launched Ireme Invest – Rwanda’s green investment facility, which raised $104 million in its initial capitalization. The facility will invest in private sector-led green growth in Rwanda using sustainable financing.

It is expected to stimulate the country’s ability to meet the growing opportunities for climate finance in the private sector.

“Rwanda remains committed to inclusive and transparent negotiations for a green and climate-resilient future,” comments Kagame.

The Head of State also called on the leaders to be careful about the effects of the impact of climate change on mother nature which is heading towards an irreversible stage.

“We should not use the question of whether Africa is ready to use climate finance to justify the allocation of these funds to the continent. We have seen the effects of this thinking during the pandemic. Vulnerable nations cannot rely solely on external financing. We need public-private partnerships,” affirms President Kagame.

The Rwandan government continues to demonstrate its commitment to addressing climate issues by using various means to support green projects and attract the private sector to the agenda.

Kagame’s administration indicated that it is imperative to have the private sector fully on board in forming partnerships that include effective responses to climate emergencies.

Cop27 brings together world leaders, government representatives, experts, private sector and civil society representatives, academics, opinion leaders and policy makers to discuss pressing issues of climate change and effective responses.

The country showcases its green investment opportunities and bilateral meetings and partner visits take place to, among other things, accelerate the mobilization of capital for sustainable projects.

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

Privacy & Cookies Policy