The Africa Climate Summit came to an end on Wednesday, September 6, with a significant milestone – the adoption of the Nairobi Declaration by the African Heads of State and Government. This declaration not only represents Africa’s united stance on addressing climate change but also lays the groundwork for Africa’s negotiating position at the upcoming COP28 summit in November.
The Declaration resounded a powerful call to world leaders for green growth financing on the continent, emphasizing that decarbonizing the global economy is not just an environmental imperative but also an opportunity to promote equality and shared prosperity.
The declaration sets forth several financial reform proposals aimed at mobilizing resources for climate-positive investments. Chief among these is the suggestion to establish a global carbon taxation regime, which would include levying a carbon tax on fossil fuel trade, maritime transport, and aviation. This it says will “provide dedicated, affordable, and accessible finance for climate-positive investments at scale, and ring-fencing of these resources and decision-making from undue influence from
Geopolitical and national interests.”
Currently, Africa, the continent most severely impacted by the climate emergency, receives a mere 3% of global climate finance. If this situation persists, the continent could potentially forfeit up to £4.8 trillion in economic benefits by 2035, according to research conducted by the Global Center on Adaptation (GCA).
Speaking during the summit, Kenya’s President William Ruto emphasized the importance of providing African countries with a level playing field to access the necessary investments to unlock the continent’s potential and transform it into opportunities.
“Africa is not only the cradle of humanity, it is indeed the future,” said President Ruto.
Additionally, the declaration emphasized the need to operationalize the Loss and Damage fund, as agreed upon at COP27, to address the adverse effects of climate change on vulnerable countries, including those in Africa.
“We shall use it in every available opportunity in the upcoming busy multilateral calendar to push our agenda. From the upcoming G20 meeting, United Nations General Assembly, the annual meetings of World Bank Group and International Monitory Fund and COP28 in Dubai in December,” said President Ruto.
The 3-day summit that was attended by several African Heads of State, and over 30,000 delegates including global leaders, intergovernmental organizations, private sector, civil society organizations, indigenous peoples, among others, solidified its position as a biennial event, with the African Union (AU) taking the lead in its coordination and AU Member States hosting it in rotation.
