Tag: COP28 UAE

  • Kenya’s role in COP28 should be to pioneer clean energy solutions for climate resilience

    Kenya’s role in COP28 should be to pioneer clean energy solutions for climate resilience

    As we approach COP28, the world’s attention is once again turning to the pressing issue of climate change.This global conference is of paramount importance for addressing climate change on a worldwide scale.

    However, it is essential to recognize that Africa, particularly its sub-Saharan regions, is facing unique and severe challenges due to climate change.

    Kenya, like many other African nations, finds itself in the throes of this environmental crisis, battling rising temperatures, erratic rain patterns, and a surge in extreme weather events.

    These challenges are not mere abstractions; they have become agonizing realities, posing grave threats to Kenya’s agriculture, water resources, and overall economic stability.

    In the face of these daunting challenges, Kenya is poised to play a pivotal role at COP28. Specifically, Kenya should take on the responsibility of pioneering innovative clean energy solutions that can enhance the nation’s climate resilience.

    This proactive approach is not only critical for Kenya but also holds the potential to serve as a model for other developing countries.

    The repercussions of inaction in transitioning to clean energy are dire. Climate change is no longer a distant specter; it is a menacing and imminent reality.

    African nations, despite contributing a mere 4% of global carbon emissions, grapple with disproportionately severe vulnerability to climate change. In Kenya, commendable progress has been made towards harnessing renewable resources for a sustainable future.

    However, the intricate balance between ensuring access to safe, sustainable energy for households and phasing out fossil fuels for cleaner, low-carbon energy sources remains a vexing challenge, one that developing countries confront daily.

    Damilola Ogunbiyi, co-chair of UN-Energy, has succinctly articulated this precarious equilibrium: “We cannot achieve net zero by 2050 if we do not achieve sustainable energy by 2030.” Her words encapsulate the challenge of harmonizing two critical global goals: disengaging from “dirty” energy sources and ensuring that households have access to fundamental energy needs like cooking, lighting, and economic activities.

    In Kenya, a developing nation where a significant portion of the population lacks access to electricity and liquefied petroleum gas (LPG) for daily essentials, there is still a heavy reliance on solid fuels for energy.

    This dependence on wood and charcoal for cooking and heating, particularly in rural areas, carries severe consequences, from deforestation to alarming household air pollution due to inefficient fuel combustion.

    Remarkably, the majority of Kenyan households originate from agricultural backgrounds, representing a wellspring of potential for energy independence from fossil fuels and resistance to the volatilities of global energy markets.

    The solution lies in innovative biodigesters, remarkable contraptions capable of transmuting organic waste into biogas, and nutrient-rich organic fertilizer.

    This transformation extends beyond environmental benefits, ultimately bolstering food security through enhanced crop yields.

    These ingenious devices harness organic waste from everyday activities and products such as crop residues, livestock manure, and kitchen scraps to yield biogas as well as organic fertilizer.

    Biogas serves as a clean fuel for households, generating energy for cooking, heating, and lighting, thereby mitigating greenhouse gas emissions and reducing the health hazards associated with household air pollution generated from inefficient solid fuel combustion.

    The advantages of this method extend beyond greenhouse gas mitigation to reduce deforestation.

    The socioeconomic implications of biodigesters are profound, particularly in rural Kenya.

    Energy independence empowers households economically through the sale of surplus fertilizers and biogas.

    Furthermore, biodigesters alleviate the burden on women, who are often responsible for cooking and household chores.

    This not only reduces the time spent on collecting firewood but also promotes a higher quality of life for every member of the household.

    Kenya’s commitment to sustainability, combined with its sprawling agricultural terrain, positions it to blaze a trail in this transition.

    The nation has the potential to serve as a beacon, illuminating how clean energy can empower households, mitigate climate change, and provide a brighter, more sustainable future for all.

    As the world converges for COP28, Kenya’s journey towards a greener and more sustainable future can serve as a source of inspiration and a model for other nations to follow.

    Kenya’s role in COP28 should not be merely as a passive participant. It should actively champion clean energy solutions to enhance climate resilience and show the world what is possible.

    By doing so, Kenya can pave the way for other nations to follow, ultimately contributing to a more sustainable and equitable future for all.

  • World-leading economists set out crucial next steps to reform international climate finance

    World-leading economists set out crucial next steps to reform international climate finance

    A two-day meeting of world leading economists and finance leaders convened by the COP28 Presidency has delivered consensus on the key next steps needed to establish a new framework for international climate finance and to drive progress at COP28 and beyond to COP29 and COP30.

    World-leading economists from the Independent High-Level Expert Group (IHLEG) met with figures from leading global institutions including the World Bank, IMF, ECF and IFC, the COP28 and COP27 Presidencies and UN Climate Change High-Level Champions for two days of talks in Abu Dhabi from 15-16 August.

    Those assembled agreed that they will come to COP28 with recommendations on a new framework for international climate finance, as well as a definitive roadmap on how to implement the recommendations.

    Particular areas of focus for the new framework will include addressing debt distress in vulnerable countries, and the role of the private sector in delivering increased finance. Here, the group recognised that although private finance flows are growing, they need to grow much faster to meet the $2.4 trillion USD total investment estimated to be needed annually by 2030 to address climate change in emerging markets and developing economies.

    The roadmap will be designed to guide all institutions – UN agencies, the IMF, WB, regional MDBs, national governments and the private sector – around short and long-term plans to achieve the Paris Agreement. Agreement on the roadmap at COP28 will allow leaders across the public, private and third sectors to drive forward a clear plan of action on international climate finance.

    All those in the meetings were unanimous in their agreement that finance is fundamental to enabling the delivery of solutions to enable the transition to a net zero, climate-resilient future. They also agreed that the primary focus of their work would be to rapidly increase international climate finance between now and the end of the decade to support emerging markets and developing economies mitigation and adaptation initiatives.

    The COP-28 President-Designate Dr Sultan Al Jaber opened the meetings with a clear call to action for those attending to deliver “a detailed action-oriented framework and tangible recommendations that lead to real results.”

    Following the meeting, he commented: “For too long, climate finance has divided the international community and held back progress in tackling climate change and supporting countries most impacted by it. But climate finance is the issue that lies at the core of the COP28 agenda because finance is how we transform goals into reality.

    “The time for action is right now. I would like to thank everyone who attended the IHLEG meetings, and for their focus and determination in developing a new framework for climate finance. This new framework needs to be comprehensive. It needs to cover both adaptation and mitigation. And it needs to unlock a supercharged stream of private capital. All forms of finance must be made more available, more accessible, and more affordable. MDBs must be adequately capitalized and provide much more concessional finance to lower risk and bring more private capital to the table. And we need to explore innovative new mechanisms for managing currency risk. I am confident that the assembled experts who have devoted their time to this effort, will find solutions to unlock climate finance.”

    Lord Nicholas Stern, co-chair of the IHLEG, said: “These meetings have proved to be very fruitful, in large measure due to the leadership of Dr Sultan and the support from his team. We are all in no doubt of the urgency of the challenges, of the scale of the problems that we must tackle, and of the global action necessary to rise to these challenges. This is a moment where all stakeholders must step up, including the MDBs, their shareholders, and the private sector. We will continue to work with the COP28 Presidency to drive forward in the weeks ahead.”

    Dr Vera Songwe, co-chair of the IHLEG, also noted: “Over the last few months every corner of the world has been hit by a climate event. We must act fast, collectively and at scale to turn these climate disruptions into a growth opportunity for people and planet. The IHLEG group, the COP28 president and all the esteemed colleagues gathered here agree that raising the $2.4 trillion will not be sufficient if we do not accelerate implementation. I look forward to a COP28 that will deliver impact.”

    Kristalina Georgieva, Managing Director of the International Monetary and also in attendance, stated: “The IMF is committed to ensuring climate policy support and finance are reaching those most in need, and I am thankful to the leadership of COP28 for convening this important meeting today. We look forward to partnering with all stakeholders in the lead up to COP28 and working to drive stronger partnerships between the public and private sector for climate success.”

    The IHLEG meetings in Abu Dhabi were attended by a host of cross-sector senior leaders and actors in international climate finance including:

    • H.H. Sheikha Shamma, President and Chief Executive Officer, UAE Independent Climate Change Accelerators (UICCA)
    • Larry Summers, economist and former US Treasury Secretary
    • Mark Carney, economist and former governor of the Bank of England
    • Todd Stern, United States’ chief negotiator at the 2015 Paris Climate Agreement
    • NK Singh, prominent Indian economist, academician, and policymaker
    • Tubiana Laurence, CEO of the European Climate Foundation (ECF)
    • Makhtar Diop, managing director of the International Finance Corporation
    • Rachel Kyte, 14th dean of The Fletcher School at Tufts University
    • Mark Gallogly, investor and climate change activist
    • Rania Al-Mashat, Minister of International Cooperation, Egypt
    • Mahmoud Mohieldin, Climate Champion, COP27
    • Nigel Topping, UN Climate Change High-Level Champion at COP26
    • Alain Ebobissé, CEO, Africa50
    • Harry Boyd-Carpenter, Managing Director Green Economy and Climate Action, EBRD
    • Hamad Sayah Al Mazrouei, CEO, ADGM Registration Authority

    The IHLEG develops and presents policy options and recommendations to enable the public and private investment necessary for delivery of the ambitions of the Paris Climate Agreement. Its ultimate goal is to advance a holistic financial framework for resource mobilization to deliver an equitable and efficient climate finance system, as set out in the Paris Agreement and Glasgow Pact and start its implementation.

    The COP28 UAE Presidency has named “fixing climate finance” one of its four priority action pillars for COP28, alongside fast-tracking the energy transition, ensuring full inclusivity, addressing lives and livelihoods.

    Enabling the energy transition in Emerging Markets and Developing Economies, as well as supporting countries most impacted by climate change, is fundamental to the COP28 Presidency’s ambition.

    Alongside its work with IHLEG, it is working with the G20 High Level expert group on international climate finance and with Germany and Canada to progress the delivery of the 100 billion dollar commitment. The COP28 presidency is also seeking to make substantial progress on the doubling of adaptation finance by 2025, deliver a strong replenishment of the Green Climate Fund and see agreement on the funding arrangements for loss and damage at COP28.

    SOURCE COP28