Background

Climate change poses significant risks to the global community, with physical effects causing substantial economic losses. Over the past decade, storms, wildfires, and floods have resulted in substantial GDP losses. Africa, in particular, faces severe climate-related challenges, including drought, desertification, and increasing cyclones, leading to displacement, migration, and food crises. The continent is also disproportionately affected by the global temperature rise and is projected to experience escalating physical climate risks. Additionally, African governments’ limited ability to respond to the climate crisis due to debt-distress and economic shocks necessitates urgent action to provide debt relief and increased liquidity.

Africa’s Assets and Contribution

It is crucial to shift the narrative away from a division between the Global North and the Global South in addressing the climate crisis. Collaboration and collective action are vital for all nations to combat climate change effectively. Africa is ready to contribute to global decarbonization efforts by leveraging its abundant resources, including renewable energy, critical minerals, agricultural potential, and natural capital. By harnessing these assets, Africa can drive its own green growth and support global renewable energy needs. The continent also offers a range of investment opportunities for global capital to promote decarbonization and local economic development.

Overview of the Africa Climate Summit

The inaugural Africa Climate Summit, championed by HE President Ruto, aims to address the increasing exposure to climate change and its associated costs, both globally and particularly in Africa. With the expectation of escalating climate crises in terms of frequency and intensity, urgent action is required to mitigate these challenges.

The Summit will serve as a platform to inform, frame, and influence commitments, pledges, and outcomes, ultimately leading to the development of the Nairobi Declaration.

More information about the summit is available on this link: https://africaclimatesummit.org/