African leaders implored to fund Climate Change strategies
AritaGlobe Foundation, a leading social and environmental Non- Governmental Organization has challenged African leaders to explore means to finance Climate Change strategies.
AritaGlobe Foundation which is dedicated to helping deprived communities in Africa achieve their full potentials urged African leaders to seize the opportunity presented by the ongoing Africa Climate Summit in Nairobi, Kenya to explore internal means to finance climate change adaptation strategies within the continent.
Charles Akrofi, Director of Communications at AritaGlobe Foundation said by doing so, Africa can ensure its survival and resilience, even if rich nations fail to provide compensation.
He said the Africa Climate Summit serves as a crucial platform for African nations to come together and address the escalating challenges posed by climate change. Akrofi stated that as it is essential for Africa to take ownership of its future, the AritaGlobe Foundation strongly advocates for exploring internal funding mechanisms for climate change adaptation strategies. He indicated that several compelling avenues exist for Africa to raise funds internally to support its climate initiatives. “Africa possesses vast potential for renewable energy sources, such as solar, wind, and hydroelectric power. By harnessing these resources, African nations can generate clean energy to meet our own demands while selling any surplus power to neighboring countries. Revenue generated from such initiatives can then be invested in climate change adaptation strategies,” said Akrofi. He stated that another means that can be explored is Promoting Sustainable Agriculture. Agriculture is a significant economic sector in Africa, and promoting sustainable farming practices can lead to increased productivity and reduced environmental impact, he said. He added that encouraging agroforestry practices and efficient water management techniques can decrease vulnerability to climate change, while generating additional income through the export of sustainably produced crops. According to Akrofi, African countries can introduce carbon pricing mechanisms, such as carbon taxes or emissions trading systems, to incentivize cleaner industrial practices. He argued that revenue generated from these mechanisms can be directed towards financing climate change adaptation projects. The AritaGlobe Foundation spokesperson says African governments, in partnership with financial institutions, can issue green bonds to raise capital for climate change initiatives. These bonds, he said, attract sustainable investors who are willing to support environmentally friendly projects.
He explained that the funds accrued can then be utilized to implement adaptation strategies across the continent.
“By encouraging African leaders to explore these internal funding opportunities, the AritaGlobe Foundation emphasizes the importance of self- reliance and proactive measures to combat climate change. While striving for international support and compensation from wealthy nations, Africa must also take bold actions to secure its own future.
AritaGlobe Foundation thus wants to call on all African leaders participating in the Africa Climate Summit to embrace this transformative approach and ensure the continent’s long- term sustainability,” said Akrofi.