African Climate Summit to boost green growth and finance solutions for Africa – ONE Campaign

by MMC
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The ONE Campaign, an anti-poverty organization, has described the just concluded African Climate Summit as a bold plan that offers African leaders the opportunity to chart the continent’s unified and comprehensive direction towards construction. of an equitable and sustainable future for the continent.

According to the Foundation, the summit hosted by the Government of Kenya and the African Union and concluded on Friday, September 8, presented bold plans that were widely accepted by many people across the continent. However, ONE said the plans require large-scale and rapid concrete action to match the accelerating speed of Africa’s climate crisis.

Read also: Africa needs $3 trillion to close climate finance gap

“President Ruto and the African Union are to be commended for providing a platform and establishing a plan that finally reflects the scale of the climate and economic crises facing Africa, as well as the scale of the solutions necessary to deal with it. We echo President Ruto’s sentiments that African solutions are not just for Africa but for the good of the world,” said Serah Makka, ONE Campaign Executive Director for Africa.

She said the Nairobi Declaration rightly calls for bold and concrete action that supports Africa’s investment in its own development and its fight against climate change. She said unlocking Africa’s potential requires equitable access to finance and investment, which is what the current system is designed to achieve.

“Concretely, leaders have set out a clear agenda to massively increase financing for MDBs, tackle inefficient debt management processes and better exploit international resources such as special drawing rights. Tripling financing for MDBs, including highly concessional financing for countries that need it most, is the step change we need that would help Africa access the affordable capital it needs,” Makka said .

Speaking further, she said the G20 must now build on the spirit and determination demonstrated at the summit to drive urgent action and change. According to Makka, having a seat at the table and a fair global financial architecture are not unfair propositions for Africa to make.

Read also: Group demands end to fossil fuels to reduce climate disaster

“Modest incrementalism will not be enough. As the continent increasingly speaks with one voice, it is time for the rest of the world to listen and improve access to the tools needed to empower Africa’s 1.4 billion people a chance to live a better, fairer and more sustainable future,” Makka said.

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