Public and private sector climate change experts assembled in Kenya on Wednesday and Thursday to talk about solutions that will help close the climate finance gap in Africa while also assisting governments and businesses in making the switch to renewable energy and complying with environmental social governance standards.
According to Cabinet Secretary (CS) of Environment, Climate Change and Forestry Aden Duale, Kenya, like many countries across the region, stands at a critical juncture in addressing the climate crisis.
“Our economies are deeply vulnerable to the destructive forces of climate change. Across the African continent, climate hazards including: extreme droughts, floods, and landslides – are having devastating impacts, destabilizing entire communities and disrupting vital economic sectors,” Duale said.
The CS also noted that Kenya has a comprehensive framework that includes the Constitution of Kenya, the Kenya Vision 2030, the National Climate Change Action Plan (NCCAP 2023-2027), and the Nationally Determined Contribution (NDC).
He said: “These frameworks guide our response and ensure that we remain focused on our climate goals. The total cost of implementing Kenya’s NDC by 2030 stands at an estimated $62 billion, with a strategic commitment to mobilize $8.2 billion domestically. But this is only part of the equation. We need international partners to support the remaining $54 billion. This support is crucial to enable us to fully implement our plans for both adaptation and mitigation.”
The two-day business summit that took place on Wednesday and Thursday comes at a time when Kenya’s emissions represent less than 0.1 per cent of global emissions. Duale said, “We have set a clear and ambitious target: to reduce our emissions by 32% by 2030. We will cut emissions by 46 Mt CO2, and we are resolute in achieving this goal.”
While speaking to the media, Nhlanhla Nene, who is the chairman of TEHA Africa emphasised that the private sector can help African nations bridge the climate financing gap through investments in clean energy and sustainable agriculture.
“Most climate change issues are beyond our control. So, gatherings like this play a critical role in building the positive stories on climate change. But the outcome that we are looking forward to is more aggressive stance going forward because at the end of the day financial support is essential in addressing climate change issues. So, let’s not leave no one behind,” said Nene.
