African leaders on Wednesday, September 6 called on the international community to help them harness the continent’s potential in the fight against global warming, through investments and reform of the international financial system, at the end of a historic summit. The first African Climate Summit aimed to develop untapped resources for renewable energies, in order to allow African countries to develop economically while participating in the fight against global warming, of which they are one of the main victims.
“Africa has both the potential and the ambition to be an essential part of the global solution to climate change,” the participants state in their joint final declaration, dubbed the “Nairobi Declaration”. But unlocking its potential “on a scale that can significantly contribute to the decarbonization of the global economy will require expanding current flows of development and investment finance,” they say. In particular, they are calling for “a new financing architecture adapted to the needs of Africa, including debt restructuring and relief”, the burden of which weighs heavily on their economies.
A total of 23 billion dollars (21.3 billion euros) in international investments were also pledged during the three days of the summit, said William Ruto, including 4.5 billion dollars (4.1 billion euros). euros) from the United Arab Emirates for clean energy in Africa.
“Common Stance”
This Nairobi Declaration, under the aegis of the African Union, “will serve as the basis for Africa’s common position in the global process on climate change up to COP28 and beyond”. The Nairobi summit kicked off four months of international meetings tackling climate issues, which continue this weekend with a G20 summit in India and will culminate with the UN climate conference (COP28) in Dubai at the end of November. where a fierce battle on the end of fossil fuels is announced. Consensus has not been easy on a continent of 1.4 billion people in 54 politically and economically diverse countries is not easy, with some governments pushing for a renewable energy future when Others depend on their fossil fuel resources.
With a young population and vast natural resources, Africa argues that it is key to building an alternative to polluting fossil fuels. In addition to a natural potential for directly generating clean energy (solar, wind, geothermal, etc.), the continent is also home to 40% of the world’s reserves of cobalt, manganese and platinum, essential for batteries and hydrogen fuel cells. In their joint press release, the participants affirmed their desire to increase, with the help of the international community, its renewable energy production capacity from 56 gigawatts in 2022 to at least 300 gigawatts by 2030.
“Fair Terms”
The challenges remain immense in a continent where 500 million people do not have access to electricity. African countries are particularly paralyzed by their growing debt burden. Several leaders of the continent, but also Antonio Guterres and the Emirati Sultan al Jaber, called on Tuesday for a reform of the international financial system – a system “outdated, unfair and dysfunctional”, according to the head of the UN – to adapt it to the requirements of the fight against global warming.
“We demand fair conditions so that our countries can access the investments needed to unlock their potential and translate it into opportunity,” said William Ruto. African leaders also called on rich polluting countries to honor their commitment to provide, by 2020, $100 billion a year in climate finance to the poorest countries.