Stakeholders Pledge $23 Billion to Address Climate Change in Africa

Stakeholders in the recently concluded Africa Climate Summit in Nairobi, Kenya have committed to providing $23 billion (equivalent to Ksh 3.4 trillion) to support African nations in addressing the impacts of climate change.

During his concluding statement, host President William Ruto said that this funding will be allocated to initiatives focused on green development, as well as mitigation and adaptation efforts across the continent.

Africa is poised to benefit from several significant developments, including:

1. 1. A transformative partnership committing $60 million over two years to expand grid access in rural Burundi.
   2. A substantial commitment of $4.5 billion from the UAE to bolster renewable energy initiatives.
   3. Substantial contributions from European nations and substantial investments from private sector entities like Masdar, PowerGen, Leapfrog, Cross Boundary, and Husk Power, all focusing on renewable energy projects.
   4. The signing of Kenya’s Green Hydrogen Strategy with the European Union, expected to drive and accelerate green manufacturing, generate thousands of high-value jobs, and attract significant private investment.
   5. A noticeable increase in adaptation financing, reflecting a strong commitment to Africa’s sustainable future and energy systems, aligning with the ambitious Nairobi Declaration.

President Ruto said the Nairobi Declaration will set the stage for a new phase in global climate action.

“The Nairobi Declaration, our common stand and firm resolution, reaffirms our determination and sets the stage for a new phase in the global climate action and sustainable development agenda, giving the future of socio-economic transformation a distinct and affirmative African character,” the Head of State said.

Dr Ruto emphasized that the combined efforts made during the summit leave no room for doubt anywhere in the world: Africa is the future of humankind.

The President commended his fellow leaders for their active participation, highlighting that their presence has sent a resounding message globally that a new Africa has emerged, and it is fully committed to its goals and objectives.

“Your participation in the Summit has further demonstrated your individual as well as our collective dedication to represent our peoples and champion their most important aspirations in every critical forum regionally, continentally and globally,” the President said.