NAIROBI: The world is losing the race to meet its climate change goals, the president of the upcoming COP28 summit said on Tuesday, as African leaders called for changes to what they say is an unfair international climate finance system.
The grim assessment by Sultan al Jaber, who will preside over the summit in the United Arab Emirates (UAE) in late November, came three days before the United Nations publishes its first “global stocktake”, an assessment of how nations are doing in their efforts to tackle climate change.
“We are not delivering the results that we need in the time that we need them,” Jaber, who also heads the Abu Dhabi National Oil Company, told delegates at the inaugural Africa Climate Summit in Kenya’s capital, Nairobi.
The summit, which opened on Monday, is focused on mobilising financing for Africa’s response to climate change.
While Africa is suffering from some of the most severe impacts of climate change, the continent only receives about 12 per cent of the financing it needs to cope, according to researchers.
Hundreds of millions of dollars of investments in sustainable development projects were announced on Monday, and on Tuesday Jaber announced the UAE was pledging $4.5 billion dollars to develop 15 GW of clean power in Africa by 2030.
Africa currently has about 60 GW of installed renewables capacity. — Reuters
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