Raila Odinga, the Azimio la Umoja One Kenya coalition leader, called on wealthy nations to fulfil their financial commitments to developing countries.....CLICK HERE TO READ THE FULL ARTICLE>>>
Raila was speaking during the opening of the African Green Climate Finances National Designated Authorities Network (AFDAN) and Building Climate Resilience of the Urban Poor (BCRUP) meeting in Nairobi on Thursday, August 22.
Raila emphasized the urgency for developed countries to honour their pledge of $100 billion (Ksh12.9 trillion) in climate finance to help developing nations combat the effects of climate change.
He noted that, despite numerous commitments made at international conferences, these funds have yet to be fully disbursed, leaving vulnerable populations in Africa and other developing regions to bear the brunt of the climate crisis.
“Whereas climate finance has been here with us, from one conference of the parties to the other, partners are reminded to respect their commitments and provide the $100 billion promised to assist developing countries to cope with the challenge of climate change,” Raila stated.
The continent, according to Raila, continues to grapple with severe challenges brought on by climate change, including disasters that disproportionately affect the poorest communities in both rural and urban areas.
He stressed that these populations are the most vulnerable and require urgent financial support to build resilience against the adverse impacts of climate change.
The ODM leader also explained the difficulties African nations face in accessing available climate finance, citing well-established avenues such as the Green Climate Fund (GCF), Global Environment Facility (GEF), Least Developed Countries Fund (LDCF), Adaptation Fund (AF), and Climate Investment Funds (CIF).
Despite the existence of these mechanisms, he pointed out that Africa currently accesses only 4% of the available funds, a figure he described as “way below impactful finance.”
“We as a continent still have a challenge with access to some of the climate finance sources such as the Green Climate Fund (GCF), Global Environment Facility (GEF), Least Developed Countries Fund (LDCF), Adaptation Fund (AF), Climate Investment Funds (CIF) as well as bilateral and multilateral development partners,” Odinga noted.
“These are all well-established avenues for accessing climate finance but currently, Africa can only access 4%, way below impactful finance.”
President William Ruto in November 2022, implored world leaders to honour their pledges amounting to over Ksh12 trillion in their commitment to helping Africa in implementing the targets of minimizing climate change effects.
Speaking during the launch of the Summit of the International High-Level Panel on Water Investment For Africa in Egypt, Ruto noted that Kenya and Africa by extension had felt the pinch of the consequences of climate change.
He cautioned the leaders against hesitation in meeting the targets as the continent risks facing the calamities posed by the changes in the climate…CONTINUE READING>>
