AFRICAN CLIMATE SUMMIT 2023: Driving Green Growth & Climate Finance Solutions for Africa and the World

AFRICAN CLIMATE SUMMIT 2023: Driving Green Growth & Climate Finance Solutions for Africa and the World

 

The African Climate Summit 2023 – Was held from the September 4th to 6th 2023 at the Kenyatta International Convention Centre (KICC) in Nairobi Kenya, a landmark event in the world of climate action. Co – hosted by the Republic of Kenya and the African Union Commission (AUC), the summit was a resounding call for collective global efforts to address the pressing issues of climate change.

The event saw active participation from a diverse spectrum of stakeholders, including government representatives, policymakers, civil society organizations, the private sector, multilateral institutions, and youth representatives. Their collective presence reflected the inclusive nature of this critical discourse.

Nairobi, the vibrant capital of Kenya, that hosted the event is a home of the United Nations Environmental Programme (UNEP), the sole United Nations agency headquartered in the Global South. Nairobi’s prominence in the realm of environmental advocacy and sustainability aligns seamlessly with the summit’s objectives.

The theme, “Driving Green Growth & Climate Finance Solutions for Africa and the World,” captured the essence of the discussions that ensued. The summit embodied the spirit of collective responsibility and commitment to safeguarding our planet by calling upon the global community to unite in purpose, transcending boundaries, and driving climate action that harmonizes with economic growth.

Other core focus areas for the summit were: Climate Action Financing, Green Growth Agenda for Africa, Climate Action and Economic Development and Global Capital Optimization. These areas underscore the commitment to mobilize financial resources, promote sustainable growth, and optimize global capital for climate action.

The physical manifestation of climate change, from storms to wildfires, has translated into substantial losses in the GDP across the African Continent. Persistent droughts, desertification, and the increasing frequency of cyclones have disrupted livelihoods, displaced communities, and triggered food crises. ACS23 therefore focused on the urgency of climate action and the potential of Africa in global decarbonization efforts.

Some of the call to action arrived at were: the commitment to devise a comprehensive “Pledging and Commitment Framework” to guide the global elimination of fossil fuel subsidies and the implementation of a universal fossil fuel tax. This initiative will position Africa as a global leader in climate action, giving us a voice and influence in international climate negotiations.

Secondly, a significant portion of the discussions were centred around financing climate action in Africa, by innovating mechanisms to attract private investments into sustainable development projects. The importance of regulatory incentives, public – private partnerships, and risk mitigation strategies emerged as critical factors to create an attractive investment environment.

Lastly, delegates explored the strategies to align economic development with sustainability through approaches that foster eco friendly practices across industries, nurturing green entrepreneurship, and promoting the adoption of renewable energy sources.

Global capital optimization towards climate -resilient projects is also a mechanism Africa needs to implement, so as to streamline investment into projects that support decarbonization and local economic development.

Kenya, the host of ACS23 and the launchpad for the “Green Hydrogen Strategy and Roadmap,” is aligning its efforts with the UN Sustainable Development Goals (SGDs), focusing on Goal 2 (Zero Hunger) and Goal 13 (Climate Action). This strategic move enhances food security while reducing the carbon footprint in agriculture, a commitment that positions the Nation as a pioneering hub for green technology innovation, offering sustainable development and green employment opportunities for its youth.

The ACS23 was a piecemeal leading to the Conference of Parties (COP28) to be hosted by United Arab Emirates from November 30 to December 12, 2023, that aims to respond to the Global Stocktake and address critical aspects such as health, trade, relief, recovery and peace.

The COP28 includes four cross – cutting themes essential for a coherent and interconnected approach for tackling climate change on a global scale: Technology & Innovation, Inclusion, Frontline Communities, and Finance. These recognise that effective climate action goes beyond emissions reduction and encompasses social, economic, and environmental dimensions which is a more multifaceted approach.

As the African Climate Summit 2023 (ACS23) sets the stage for discussions on climate action, it becomes evident that research, strategy, and evaluation are the compass guiding us towards meaningful solutions that are actionable and evidence – based.

ADRES Group stands ready to support these initiatives with its expertise in research, evaluation and strategy, forging a path towards a more sustainable and resilient world.



Leave a Reply

This website uses cookies and asks your personal data to enhance your browsing experience.