Ruto announces Sh3 trillion funding to Green climate
President William Ruto has announced that stakeholders including the West have collectively pledged an astounding $23 billion (about Sh3 trillion) towards green growth, adaptation, and mitigation efforts across the African continent.
Speaking at the Climate Summit in Nairobi, the Head of State emphasized the significance of this unprecedented commitment, which represents a pivotal step in addressing the continent’s pressing climate challenges.
He stated, “Africa stands at a crossroads, where we must choose a path that safeguards our environment, preserves our natural resources, and ensures a brighter future for generations to come.”
“At this action-focused summit, various stakeholders have pledged a substantial 23 billion for green growth in Africa, showcasing a strong commitment to the continent’s sustainable future. Notably, there has been a significant increase in adaptation financing, reflecting a deep dedication to Africa’s sustainability. Our youth have also actively participated, providing exemplary models for us to fulfill our commitment to Africa’s future,” said President Ruto.
The commitments made during this summit are expected to have a far-reaching impact on various facets of Africa’s sustainable development. The funds allocated to green growth initiatives will support clean energy projects, afforestation efforts, and sustainable agriculture practices. Additionally, a substantial portion of the pledged funds will be directed toward adaptation and mitigation strategies to combat the adverse effects of climate change, such as droughts, flooding, and rising temperatures.
The summit saw the participation of key stakeholders, including representatives from governments across the African continent, prominent members of the private sector, major multilateral banks, and philanthropic organizations dedicated to environmental causes. Their collective commitment underscores a growing recognition of the urgency and importance of addressing climate change on the African continent.
President Ruto expressed his gratitude for the collaboration and commitment displayed by all stakeholders, saying, “Today, we have witnessed the power of collective action. Together, we can forge a sustainable path for Africa, one that not only protects our environment but also promotes economic growth and social well-being.”