Africa leaders announce Ksh.3.3 trillion financial commitment at conclusion of Climate Summit

President William Ruto says the summit, the first of its kind on the continent has also served to unify and solidify Africa’s negotiating powers as the continent gears for the next global climate event in the United Arab Emirates in December. 

For the last three days, KICC has played host to the Africa Climate Summit that through different sessions and seatings sought to shine a light on the continent's efforts to combat and prepare for the effects of climate change as well as forge the path towards delivering climate-positive growth and finance solutions for Africa and the world.

This aim, President Ruto says was successfully executed with the summit getting multi-billion dollar commitments towards this cause.

“Various stakeholders, including governments, the private sector, multilateral banks and philanthropists have made substantial commitments totalling a remarkable $23 billion for green growth, mitigation and adaptation efforts across Africa,” Ruto said.

The financial commitments were only a small part of the outcome of the summit. The African Union's leadership also lauded the unity of the different African countries and their leadership that was demonstrated, resulting in the continent's pledge to speak in one voice on the global stage, beginning with the upcoming COP28 meeting in Dubai this December.

“We shall use every available opportunity in the busy multilateral calendar, from the G20 meeting, the United Nations General Assembly in a fortnight, the Annual Meetings of the World Bank Group and the International Monetary Fund soon thereafter, as well as the COP 28 afterwards,” he said.

“Africa should in no way lose the spirit of opportunities in order to push forward its agenda for more climate justice, for more concrete action and honouring of commitments and for the need for adoption and transition,” said Au Chair Person Mousa Faki.

The benefits of the summit also struck closer home with the president stating that the push towards green energy will yield positive results here in Kenya.

“The signing of Kenya’s Green Hydrogen Strategy with the European Union is expected to drive and accelerate green manufacturing and create thousands of new, high-value jobs in addition to attracting large private investment,” said the president.

The African Climate Summit which had also sought to position Africa as part of the solution to the climate crisis was lauded by indigenous people, youth and children, as well as other demographics, who however called for inclusivity in its future engagements.