COP28 President-Designate, Dr. Sultan Al Jaber, has shared his vision and priorities for the climate summit, especially the need for adaptation financing and acceleration of the energy transition.
In his speech, while addressing the 19th session of the African Ministerial Conference on the Environment (AMCEN) Dr. Al Jaber highlighted the need for urgent action to put the world back on track to achieve the goals of the Paris Agreement and keep the ambition of 1.5 within reach.
The COP President Designate not only recognized Africa’s position at the frontline of climate impacts but also its performance and potential as a leading force in the energy transition.
According to him, “With just over 100 days before the world gathers in Dubai for COP28, both the science and common sense are telling us that our collective response to climate change is nowhere near good enough.
“When it comes to transitioning to an energy system free of unabated fossil fuels, Africa has many lessons for the rest of us. Here in Ethiopia, almost 100 percent of the country’s energy comes from renewable hydropower.
“Across this great continent, a young and growing population is seizing the potential of other clean energy sources from wind to solar and choosing low carbon economic growth,” he said.
Al Jaber however acknowledged that a chronic lack of available, accessible, and affordable climate finance is holding back Africa’s potential, noting that barely one-tenth of global climate finance finds its way to the continent.
He highlighted the urgent need to reform international climate finance.
“First, the international community must come through with the 100-billion-dollar pledge they made over a decade ago. I will continue to press donor countries to ensure delivery no later than this year, the entire global financial architecture from IFIs to MDBs needs modernizing. They were built in the second half of the last century. They urgently need to be upgraded to meet the needs of this one,” he said.
He was also clear on his call to action on Loss and Damage: “We must operationalize the fund and funding arrangements for Loss and Damage, and early pledges are vital to ensure we live up to the commitments made at Sharm El Sheikh”.
In making these remarks, Dr. Al Jaber referred to a meeting of the Independent High-Level Expert Group (IHLEG) that united world-leading economists in Abu Dhabi for two days of talks on August 15 and 16.
The meeting, which was attended by leading figures including IHLEG co-chairs Lord Nicholas Stern and Dr. Vera Songwe as well as representatives from the World Bank, IMF, ECF and IFC, the COP28 and COP27 Presidencies, set out crucial next steps to reform international climate finance.
A detailed report, including a clear roadmap on how to implement recommendations, will be presented to world leaders at COP28.
Looking to the future and another significant moment to drive forward ‘fixing climate finance’, Dr. Al Jaber also announced that the COP28 UAE Presidency will co-host the third Climate and Development Ministerial alongside the UK, Malawi, and Vanuatu governments in the UAE on 29 October during the formal “pre-COP” period.
A key partner to COP28, AMCEN unites environment ministers from across the continent and provides political guidance, and coordinates policy positions among its member states, which include all 54 African countries. Ethiopia will chair AMCEN in 2024.
Dr. Al Jaber’s visit to the African region and speech at the AMCEN summit is an important moment in mobilising African leaders ahead of COP28 and preparing the ground for strong outcomes on international climate finance, including loss and damage.
By Dare Akogun
