Governments, development banks, investors and philanthropists pledged a total of $23 billion for green projects during the recent African Climate Summit which was held in Nairobi, Kenya.
African leaders called for urgent action during the Nairobi Declaration. They called for ending of carbon fuel subsidies, phasing out coal and introduction of taxes on carbon pollution globally.
“Africa is not historically responsible for global warming, but bears the brunt of its effect, impacting lives, livelihoods, and economies,” the leaders said in the joint declaration.
UAE pledged pledged $4.5 billion to be spent on clean energy initiatives in Africa. The head of national oil company Sultan Al-Jaber made the announcement. He hopes that this investment will lead to generation of 15 gigawatts of clean energy by 2030. Al-Jaber will also be the president of Cop 28 which is scheduled for November in Dubai.
Germany announce $481 million of climate finance pledges while USA announced $30 million to support food security efforts across Africa.
governments, investors, development banks and philanthropists.