Remarks · 25 September 2024
Excellencies, Distinguished Ladies and Gentlemen,
Welcome to this second meeting of the Committee of Heads of State and Government on Climate Change this year. During our first meeting in February at the margins of the 37th African Union Assembly in Addis Ababa, we reviewed the outcomes of last year’s COP28 in Dubai.
Today, we are aligning our position for the upcoming COP29 in Baku, Azerbaijan, in November. This meeting, on the sidelines of the UNGA sessions, serves as a strategic step in our preparations.
In February, we underscored the need to maintain Africa’s bold leadership position through the Nairobi Declaration, which was endorsed by the AU Assembly. The climate-positive growth approach is not just a framework but a blueprint for Africa’s economic growth and development. This is particularly urgent as climate impacts are intensifying across the continent, with Southern Africa facing devastating droughts while the Sahel and West Africa are grappling with floods that have displaced hundreds of thousands. North Africa is battling with heat waves and desertification, demonstrating the immediate need for resilient, sustainable interventions.
This morning, I hosted the first Steering Committee meeting of the African Green Industrialisation Initiative (AGII), a collaborative platform that brings together African leadership and partners from finance, industry, and philanthropic sectors.
This initiative is focused on unlocking investments for largescale, high-impact green industrial and infrastructure projects and aligning value chains across the continent.
Meaningful investments in Africa's resources— whether in renewable energy, sustainable agriculture, green transport, or nature-based solutions— are key to ensuring effective climate adaptation. These investments will enable low-carbon, climateresilient development, not only for Africa but also for the global community.
In February, I also proposed hosting an investment forum in partnership with the International Renewable Energy Agency (IRENA) for the Accelerated Partnership for Renewables in Africa (APRA), which we launched at COP28. I am pleased to announce that the Investment Forum will take place next month in Nairobi.
Africa’s energy systems require significant investment to tackle pervasive energy poverty and meet the demands of our growing population.
Last year, global investment in the energy transition reached a record USD 1.8 trillion, a 17% increase from 2022. However, Africa attracted less than 3% of this spending, accounting for only 0.6%— that is 2.7 GW of the 473 GW of new global renewable energy capacity in 2023. This stark disparity must be addressed.
The APRA initiative, launched at COP28, aims to redress this imbalance by accelerating the mobilisation of finance, technical assistance, and private sector engagement.
The upcoming Investment Forum will present Africa’s abundant renewable energy potential and mineral wealth as key drivers of resilient, inclusive economies.
On the international financial reform agenda, a central theme of the Nairobi Declaration, I am pleased to report progress on two initiatives launched at COP28: the Global Solidarity Levies Taskforce and the Expert Review on Debt, Nature, and Climate. These initiatives are gaining traction, with many countries joining to support sustainable development, climate action, and nature conservation.
As climate-related shocks become more frequent and severe, coupled with high debt servicing, government spending on green resilience is constrained. High interest rates and credit downgrades also make refinancing costly. Therefore, we must continue to advocate for debt sustainability and the reform of international financial systems to ensure climate justice.
On the subject of reform, I have written to the incoming COP29 Presidency to request a high-level Politicalevent during the World Leaders Summit, focusing on “Measuring the Green Wealth of Nations: Natural Capital and Economic Productivity in Africa.” This event will be led by the Congo Basin countries and the African Development Bank, aiming to re-index GDP to accurately reflect the true wealth of nations.
Finally, in February, we tasked the African Union Commission (AUC) with streamlining governance mechanisms for climate change in Africa.
This includes aligning the work of this Committee with the African Ministerial Conference on the Environment (AMCEN) and the African Group of Negotiators on Climate Change (AGN). I am pleased to inform you that during the recent AMCEN meeting in Abidjan, Côte d'Ivoire, the establishment of a Secretariat under the AUC for the AGN was approved. This Secretariat will help link and coordinate all our initiatives, including the Africa Green Industrialisation Initiative (AGII) and the Africa Climate Summit. This is a significant step forward in consolidating our efforts to tackle the climate crisis, enhance green growth, and promote sustainable development across the continent.
With those few remarks, let me now request my brother, Moussa Faki, Chairperson of the African Union Commission, to make his statement.