Browsing: COP28

In recent years, Africa has gained increasing attention in the climate change dialogue, especially its role in the global carbon offset market. But what exactly does this mean for the continent and the world? This article delves into the concept of carbon offsets in Africa, explores the benefits, assesses Africa’s contribution to global emissions, and examines the leading countries in carbon trading.…

The Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC) represents an important international forum for countries to discuss and address global climate change issues. However, these conferences have tended to be high-level and process-based, and COP 27 was no exception. – negotiations took place, and some of the highlights included the historic establishment of the loss and damage fund, which was seen as setting a precedent for climate justice.

However, agreements on other matters, such as phasing out fossil fuels and setting emission peak periods, were not achieved. For African countries, COP 28 marks an important pivot point around funding, just transition, and the Nairobi Declaration. There will be a push for realisations on commitments made and innovative funding mechanisms to drive accelerated climate action now and beyond.…

Ahead of COP28, the UN’s International Fund for Agricultural Development (IFAD) is calling on leaders across the globe to shift gears and drastically and urgently scale up climate finance for small-scale farmers and small agribusinesses, who produce one-third of the world’s food and up to 70 per cent of the food in low- and middle-income countries. Many of these farmers are grappling with the negative impacts of climate change.…

• COP28, which will attract over 70,000 attendees will center on Africa’s specific problems and demands.
• Africa will be focusing on four main issues: getting developing nations to agree to climate finance, fixing the loss and damage fund, getting fossil fuels out of the system, and making sure everyone has a fair chance to transition to low-carbon future.
• At COP28, world leaders will talk about how to finance climate action by attracting private investment from emerging and developing economies.

From November 30–December 12, 2023, in Dubai, UAE, will be held the forthcoming COP28 meeting, which will mark the beginning of a new age in climate financing. The climate finance conference, which is projected to attract over 70,000 attendees—including heads of state, government officials, and other stakeholders—will center on Africa’s specific problems and demands.

The Priorities of Africa at COP28 on Climate Financing

At COP28, Africa will be focusing on four main …

A new commentary from the International Energy Agency (IEA) on the upcoming World Energy Outlook 2023 has revealed that despite improvements, global access to electricity still needs to catch up to the pace required to meet SDG 7. The commentary supports discussions from the recently concluded United Nations’ SDG Summit on 18-19 September 2023. It is also part of the IEA’s support of the first global stocktake of the Paris Agreement, which will be finalized in the run-up to COP28, the next UN Climate Change Conference, at the end of 2023.…

• COP28 President-Designate Dr Sultan Al Jaber says Africa is a leading force in energy transition and there is a need for increased finance.
• Dr Al Jaber calls on the international community to unite on international climate finance, citing progress at a recent meeting of major global economists in Abu Dhabi.
• Dr Al Jaber held meetings with African leaders in Ethiopia to discuss the COP28 climate finance and energy transition agenda. He called on the leaders to share their priority outcomes and key contributions for COP28.

Dr. Sultan Al Jaber, the President-Designate of COP28, delivered a compelling address at the nineteenth session of the African Ministerial Conference on the Environment (AMCEN), outlining his vision for the upcoming COP28 and emphasizing the critical need for adaptation of climate finance and an accelerated energy transition in Africa.

Climate finance critical in energy transition

AMCEN, a vital partner to COP28, convenes environment ministers from …

• President William Ruto of Kenya says resources should neither be controlled by the World Bank nor the International Monetary Fund.
• Africa does not want anything for free. But needs a new financial model where power is not in the hands of the few, says Dr Ruto.
• In Paris, President Ruto says the world cannot continue normally when things are not going forward.

Kenya’s President William Ruto has has called for a new world financing model to tackle poverty and negative effects of climate change. Dr Ruto is advocating for a financial architecture made up of equals. This is his latest call as he continues to emerge as Africa’s most vocal leader since his election in August last year.

According to the leader of East Africa’s top economy, President Ruto said resources should neither be controlled by the World Bank nor the International Monetary Fund. “Africa does not want anything for …

France will host, in Paris, on June 22 and 23, 2023, the Summit for a new global financing pact. The Summit seeks to rethink the contract between the countries in the Global North and the Global South. The organisers aim to formulate a new pact to address the global economic crisis and climate change.…