Africa's Bold $50 Billion Climate Solution Initiative
A draft declaration from Addis Ababa reveals Africa's ambitious plan to secure $50 billion annually for climate solutions, spearheaded by Ethiopia's Prime Minister Abiy Ahmed. Despite challenges, Africa seeks to establish innovative compacts and facilities to achieve these targets, with aspirations of delivering 1,000 solutions by 2030.
Africa is embarking on an ambitious journey to secure $50 billion every year to support a new continental climate solutions initiative. This effort, led by Ethiopia's Prime Minister Abiy Ahmed, was unveiled in a draft declaration following a climate summit in Addis Ababa.
The African continent, grappling with severe weather disruptions, remains committed to its climate goals despite the U.S. exit from the Paris Agreement. Central to this drive is the establishment of the Africa Climate Innovation Compact and the African Climate Facility, aimed at mobilizing essential finances for climate action.
Ethiopia's recent emphasis on environmental projects, including a major tree-planting initiative and the launch of a hydroelectric dam, highlights Africa's capacity for sustainable development while addressing ecosystem challenges. The summit also saw a significant financial collaboration aimed at green power investments, emphasizing Africa's proactive stance towards climate adaptation and sustainable growth.
(With inputs from agencies.)
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