Africa’s first Climate Summit: “Urgent and Collaborative Climate Action Required to Achieve Goals of the Nairobi Declaration”
The African Union and the Government of Kenya co-hosted the inaugural Africa Climate Summit to discuss sustainable solutions to global climate challenges under the theme “Driving Green Growth and Climate Finance Solutions for Africa and the World” from 4–6 September 2023. The summit culminated in the Nairobi Declaration, an eleven-point call to action proclaiming African States’ unified stance on climate action ahead of the 28th United Nations Climate Change Conference (COP28). Approximately 30,000 delegates participated, including 18 Heads of African States, the Secretary-General of the United Nations António Guterres, and President of the European Union Ursula von der Leyen, with discussions centered on climate action financing, the green growth agenda for Africa, and climate action and economic development.
Several important signs of progress emerged from the Summit, but greater commitment is needed to end energy poverty and fight climate change, both in Africa and globally. Some of the key takeaways and highlights from the Summit were;
More financing and reforms needed to unlock Africa’s renewable energy potential
At the Summit, African leaders called for a significant overhaul of the global financial system to facilitate climate action financing. Their demands included improved access to concessional loans, the fulfilment of a 14-year-old promise by developed nations to mobilize USD 100 billion annually for climate adaptation and mitigation, and the establishment of a carbon markets initiative to fund renewable energy infrastructure.
Secretary-General of the United Nations António Guterres voiced support, emphasizing the need for reforming the global financial system to support developing countries in their just and equitable transition towards sustainable development. Africa, with its abundant critical minerals and solar resources, can play a pivotal role in the transition to renewable energy with needed reforms of multilateral lending institutions, which have traditionally viewed climate investments in Africa as risky due to regulatory uncertainties, climate-related threats, and high financing costs, hindering much-needed investments.
To meet the emission reduction targets outlined in the Paris Agreement, Africa requires a substantial USD 2.8 trillion by 2030. Achieving this goal necessitates a ten-fold increase in climate investments, equivalent to nearly 93% of the continent’s current GDP. Additionally, African nations often pay up to eight times more for financing from multilateral lending institutions compared to developed countries. This imbalance results in recurring debt crises, leaving little or no resources for climate action.
During the Summit, donor nations and multilateral organizations pledged approximately USD 26 billion for climate investments. Notable commitments included the United Arab Emirates’ “non-binding letter of intent” for USD 4.5 billion toward clean energy and USD 450 million for carbon credits. Denmark also announced a USD 232 million pledge for the Green Climate Fund’s second replenishment. The United Kingdom, United States, Canada, Finland, and Germany also pledged several financing and debt swaps for green projects. The Africa Development Bank committed USD 1 billion towards adaptation with a pledge to invest USD 25 billion in climate financing billion towards adaptation with a pledge to invest USD 25 billion in climate financing by 2025. Other commitments were made by The Bezos Earth Fund (USD 22.8 million), Climate Asset Management (USD 200 million), Masdar (USD 10 billion) and Camco (USD 100 million).
Less Talk, More Action
The Africa Climate Summit was a significant event that made progress on several key issues, including building consensus on climate action priorities for Africa. However, there are still significant challenges to overcome. While the Summit provided a platform for countries to come together and commit to acting on climate change, it will take a sustained effort to achieve the aspirations of the Nairobi Declaration and the Paris Agreement.
The Summit also highlighted the importance of accountability and transparency in pursuing a just and equitable transition, as well as the need for countries that have contributed the most to climate change taking a lead in financing and implementing climate action. The Summit also highlighted that the benefits of climate action are shared equitably so that no one is left behind.
The epitome of the summit was a shared interest to carry this momentum forward to the UN General Assembly in New York in the subsequent weeks and to COP28 in the UAE later this year.
