"Africa offers global warming solution in 1st climate declaration"

" Africa offers global warming solution in 1st climate declaration \r\n\r\nAfrica will seek to present itself as a solution to the global warming crisis in a declaration to be signed by heads of state on Sept. 6 at the inaugural Africa Climate summit in Nairobi.\r\n\r\nAfrican leaders, under the auspices of the African Union, committed to tripling the proportion of electricity generated from renewable sources to 60% by 2030 compared with 2019 levels, according to a copy of the draft document seen by Bloomberg.\r\n\r\n\u201cAfrica\u2019s untapped renewable energy potential, which is 50 times the global anticipated electricity demand by 2040,\u201d the leaders said in the nine-page draft. The continent \u201ccan play a significant role in keeping the rise in global temperature within the 1.5C objective,\u201d they said.\r\n\r\nWhile it has abundant solar, wind and hydropower potential and is being touted as a future source of green hydrogen, almost half of Africa\u2019s population, or 600 million people, are without access to electricity. Only 2% of global investment in renewable energy goes to Africa, the leaders said.\r\n\r\nThe AU won\u2019t comment on the Nairobi Declaration until it\u2019s been discussed and adopted, spokesman Ebba Kalondo said by phone.\r\n\r\nGreen industries could be built and given that much of the continent is undeveloped, they could leapfrog the use of fossil fuels, according to the document.\r\n\r\n\u201cAfrica has the fundamentals to become a cost-competitive green industrial hub,\u201d the leaders said. \u201cAfrica has a unique opportunity to pursue a much less carbon-intensive development pathway, if matched with timely finance and technology at scale.\u201d\r\n\r\nThey also emphasized the role Africa\u2019s so-called carbon sinks \u2014 forested areas that absorb carbon \u2014 play in reining in climate change.\r\n\r\nThe declaration, to be presented at next week\u2019s gathering in Kenya, will serve as the continent\u2019s formal submission to the COP28 climate summit in the United Arab Emirates in November. It was proposed that the Africa Climate Summit should be held every two years.\r\n\r\nWhile offering to play a role in fighting climate change, the leaders bemoaned the impact emissions caused by developed nations are having on their countries and the lack of finance they are able to access to build renewable energy plants and strengthen infrastructure against extreme weather.\r\n\r\n Warming Faster \r\n\r\n\u201cAfrica is warming faster than the rest of the world and, if unabated, climate change will continue having negative growth impacts on African economies,\u201d they said. \u201cAccess to affordable climate finance remains one of the biggest challenges to climate action.\u201d\r\n\r\nThe declaration states that most assistance is in the form of loans, even though many developing nations battle debt burdens. It criticizes the European Union\u2019s planned Carbon Border Adjustment Mechanism as being unfair because it will make the export of materials to the bloc from Africa powered by electricity generated with fossil fuels less competitive as charges will be imposed.\r\n\r\nThe leaders called for increased agricultural productivity and the allocation of more of Africa\u2019s land and marine areas to conservation, as well as demanding a greater share of profits from carbon-offset projects.\r\n\r\nThe world needs to \u201cestablish a new financing architecture that is responsive to Africa\u2019s needs including debt restructuring and relief,\u201d they said.\r\n\r\nThere was little mention in the document of reining in Africa\u2019s own fossil fuel industries. Nigeria and Angola are major oil producers and Senegal and Mozambique are on course to produce significant amounts of natural gas. South Africa relies on coal for more than 80% of its power."

"Africa offers global warming solution in 1st climate declaration"

MultiChoice Ghana Agrees to Reduce Subscription Fees for DSTV, Given 14-days Deadline to Reveal New Subscription Fees AMP

Ghana’s Sports Minister Urges Envoys to Promote Country as Investment Hub for Sports and RecreationAMP

Ferrari 1-2 in Free Practice as Hamilton Tops Timesheet in MonzaAMP