By Coletta Wanjohi
TRT Afrika, Nairobi
Poor funding is a major factor contributing to slow response to impacts of climate change by developing countries, some African leaders said at the ongoing Africa Climate Summit in the Kenyan capital Nairobi.
“Many of our countries are headed into debt distress because of climate change,” Kenyan President William Ruto told a high level dialogue involving heads of state on Tuesday, the second day of the summit.
President Ruto lamented the high interest rates African countries pay on loans from international financial institutions.
“And that is why we need a very candid conversation and we are saying this: how do we get concessional funding, how do we pay as much as others are paying , how do we get Africa to not pay five times more in interest ?,” he asked.
Not asking favours
He also pointed out that advanced nations that emit greenhouse gasses much more than Africa were not owning up. “If there was a company that collects carbon garbage globally, Africa would have the largest shares, “ President Ruto said
“The only problem is that those who produce the garbage refuse to pay their bills and profile the company as broke , when it is actually them who have refused to pay the bills,” he added.
“And I ask in this gathering we are not asking to be favoured , we are not asking to be treated differently, we want a fair financial system that treats everybody equally. That is not too much to ask,” Ruto explained.
Rwandan President Paul Kagame said his country was encouraging the private sector to invest more in green energy while supporting a change in international finance architecture.
''Any meaningful structural change must favour debt restructuring and lower interest rates ,” President Kagame told the summit.
The damages
The heads of state say their government are being forced to divert funds meant for development to responding to impacts of climate change.
“We undergo almost every year a lot of damages and losses from earthquakes, tropical cyclones and we lose every year almost $5.7 million,'' Azali Assoumani, the President of Comoros said.
Official figures show that Kenya has lost over 2.5 million heads of cattle in a protracted drought that has hit parts of Ethiopia, Somalia and Djibouti.
The United Nations Gecretary General, Antonio Gutteres who is also attending the summit in Nairobi asked developed nations to implement a commitment to support climate change adaptation and mitigation measures.
“Developed countries must present a clear and credible roadmap to double adaptation finance by 2025 as a first step towards devoting at least half of all climate finance to adaptation. They must also keep their promise to provide $100 billion a year to developing countries for climate support, and fully replenish the Green Climate Fund,” Gutteres has said.
The leaders have also recognised that the fight against climate change must be led by women and young people.
The African Development Bank has allocated 1 billion dollars to go towards funding investment of young people in climate change.
A green path
Africa is looking to chart a green growth path, this is the message of African leaders at the Africa Climate summit.
“ The Africa climate summit will shape the future path of Africa Climate development , we gather because the people of Africa expect us to act ,” Akiwumni Adesina , the President of African development Bank has said.
“As we gather today if we strain our ears enough, we will hear the calls of urgency from farmers whose crops and livestock have been destroyed, voices of fishing folks whose catch is reducing livelihoods are being imperiled the voices of the young whose future is being compromised, the voices of woman and children who bear the brunt of climate change,” Adesina adds.
A declaration is expected at the end of the summit with leaders hoping it will form a strong voice for Africa as it prepares for COP 28 later in the year where world leaders will gather to strategise for global climate action.
