London: The world is failing to meet its climate change goals, warned the president of the upcoming COP28 summit.
Sultan Al Jaber, Speaking at the inaugural Africa Climate Summit in Nairobi, highlighted the urgency of delivering results in a timely manner.
The Africa summit, which got underway on Monday, aims to mobilise financing for the continent’s response to climate change.
Africa is severely impacted by climate change, but manages only 12% of the necessary financing to cope with these effects.
In a welcome development, significant investments in sustainable development projects have been announced at the ongoing summit in Nairobi.
The UAE pledged $4.5 billion to develop 15 GW of clean power in Africa by 2030, Germany committed 450 million euros ($482.31 million) in financing, including 60 million for a green hydrogen project in Kenya, and the USA pledged $30 million to support climate resilience and food security efforts.
Majid Al Suwaidi, director general of COP28, expressed concern over slow progress in implementing a loss and damage fund agreed at the COP27 summit to aid poor countries affected by climate disasters.
COP28, the 28th United Nations Climate Change conference, will be held from November 30 to December 12 at Dubai’s Expo City.