NAIROBI, Kenya, Sep 5 — The European Union (EU) has urged African countries to join forces with its 27 Member States to present a joint proposal for global carbon pricing and carbon credits.
EU Commission President Ursula von der Leyen said the union was willing to present a joint action plan with Africa at the upcoming United Nations Climate Change Conference (COP 28), slated for November 30 to December 12 in Dubai.
Von der Leyen spoke on Tuesday when she addressed at least 10,000 delegates at the ongoing Africa Climate Summit in Nairobi where she noted carbon pricing would play a critical role in unlocking huge resources for climate action in Africa.
She stated the move would generate revenues that can support the clean transition in developing countries that are grappling with the adverse effects of climate change.
“I believe, as you do(President William Ruto) that setting a price on carbon emissions, is one of the most efficient and one of the most effective tools in our hands, because it fosters innovation by the private sector that’s crucial and because it makes heavy polluters pay a fair price that is necessary,” she said.
The EU President commended the Africa Climate Summit as a vital step toward amplifying Africa’s voice and addressing its concerns at the upcoming COP28 summit in Dubai.
She underlined the shared interests of Europe and Africa in addressing climate change and sought Africa’s collaboration in finding sustainable solutions.
“However different our two continents may look; we share the same interests when it comes to climate action. Today I’m here not only to listen to you, but also to bring you Europe’s offer to be your ally at COP 28 and to work together on all issues on the agenda,” Von der Leyen said.
Addressing Africa’s challenges
The EU President highlighted that climate action could partially address many of Africa’s challenges, including poverty.
She added that Africa has abundant resources that if well tapped can help save the planet while at the same time better the livelihoods of its citizens.
“With your huge potential for renewable energy and clean hydrogen your critical raw materials, nature and biodiversity and your young workforce, you can help clean up global energy systems and supply chains while creating good jobs here and economic opportunities yet that your people demand rightly so,” she said.
“This is a win-win partnership which benefits Africa and the world.”
Von der Leyen singled out the benefit that would be realized with the expansion of Africa’s clean-energy sector.
By speeding up the transition to solar and wind power, the EU President argued that the energy sector jobs in Africa could double in a few years.
She added that Africa has a huge potential to produce enough clean energy not only to power up the continent but that could be exported abroad.
Von der Leyen emphasized that climate action can be one of the main drivers of Africa’s growth, but the continent needs massive investment to achieve it.
She added that Europe is ready to partner with Africa in closing the investment gap in climate action.
“We fully support the need for multilateral development bank reform. It is time to move from words to action absolutely,” she said.
To support Africa’s climate initiative Von der Leyen disclosed that the EU had set aside Sh150 billion Euros their investment plan designated for the continent in its Global Gateway initiative.
She stated that the Global Gateway initiative, supports Investments ranging from hydro power plants in the Democratic Republic of Congo (DRC), Burundi, Rwanda and Tanzania.
1-billion-euro initiative
It also includes the 1-billion-euro initiative on climate adaptation and resilience in Africa which was announced at C0P 27.
“Global gateway is unique in the global Investment landscape. We are not only interested in extracting resources; we want to partner with you to create local value chains to create good jobs here in Africa,” Von der Leyen said.
“We want to share your technology with you. EU wants to invest in skills for local workers which is crucial for the young people. Because the stronger you are as suppliers, the more Europe will diversify supply chain towards Africa, and the more we both will de-risk our economies it’s a clear win -win.”
Commenting on global energy goals, the EU President said that if the continent is to limit global warming to 1.5 degrees, Africa needs to speed up the global energy transition.
To be able to be meet global energy transition goals, Von der Leyen said that there was a need to triple renewable energy capacity and double energy efficiency by 2030.
She pointed out that global Investment in renewables would make clean energy more affordable for all countries including Africa.
“This is why COP 28 president Sultan Al Jaber and I champion an initiative for global targets for the energy transition to be achieved collectively, because only what gets measured gets done,”Von der Leyen said.
She noted that global goals will provide a benchmark to track the progress and to attract more private investments.
