Kenya to champion Africa's call for Sh167.57 trillion in climate finance at COP29
By Maureen Kinyanjui |
The focus will be on pushing for substantial climate finance, advancing adaptation strategies, and setting clear rules for the global carbon market.
Kenya, as the Chair of the African Group of Negotiators (AGN), will lead Africa's agenda at the upcoming COP29 summit in Baku, Azerbaijan.
The focus will be on pushing for substantial climate finance, advancing adaptation strategies, and setting clear rules for the global carbon market.
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Speaking during the 10th Special Session of the African Ministerial Conference on the Environment (AMCEN), Environment Cabinet Secretary Aden Duale emphasised the urgency of securing a new global climate finance target.
He pointed out that the current goal of $100 billion (Sh12.89 trillion), set years ago, no longer meets the growing needs of developing nations.
"Africa is calling for $1.3 trillion (Sh167.57 trillion) annually by 2030, primarily through grants and concessional loans, to prevent worsening debt in developing countries," Duale said
The CS also highlighted the need for international financial systems to be reformed, ensuring they can better support vulnerable nations that bear the brunt of climate impacts.
A major focus for Kenya and the African Group is increasing adaptation funding, especially for critical sectors like agriculture, health, and infrastructure.
These sectors, which are crucial for Africa's resilience, currently face a massive shortfall. Duale explained that the estimated $400 billion required annually for adaptation is far from being met.
Another key concern is the establishment of sustainable financing for the Loss and Damage Fund.
While an initial $700 million has been pledged, Africa is calling for long-term solutions to ensure the fund's sustainability.
Kenya, representing Africa's interests, is also challenging the decision to place the Santiago Network's secretariat in Geneva. Nairobi is being pushed as a more practical and cost-effective alternative for hosting the secretariat.
Additionally, the country will advocate for developed nations to step up their emissions reduction targets and provide more financial and technical support to developing countries to help them meet their climate goals.
CS Duale also emphasised the need to recognise Africa's unique challenges in addressing climate change, a concern that has been largely overlooked since the Paris Agreement was signed.
At the upcoming UN General Assembly, the AGN will present Africa's united position, urging full participation and engagement in the COP29 discussions and negotiations.
With Kenya at the helm, Africa is poised to make its case for urgent and meaningful climate action on the global stage.
Duale was at the 10th Special Session of the African Ministerial Conference on the Environment (AMCEN).
AMCEN is a platform for African ministers to discuss and strategise on pressing environmental issues impacting the continent.
This year's session which ended on Friday was particularly significant as it aims to address the growing challenges posed by climate change, deforestation and biodiversity loss.
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