Post by account_disabled on Feb 27, 2024 1:17:36 GMT -5
African leaders have proposed a global carbon tax in which major polluters pay more to help poor nations finance the rollout of green energy systems and prepare for the damaging effects of climate change after a three-day summit in Kenya. The Nairobi Declaration, signed on Wednesday, calls for a global carbon price on fossil fuel trading, shipping and aviation, as well as a global tax on financial transactions. He also called for a nearly six-fold increase in renewable energy capacity across the continent, where hundreds of millions of people lack access to energy and clean ways to cook. William Ruto, president of Kenya, host of the summit, told the Financial Times that it was time for the international community to discuss a carbon tax, with all countries making a contribution. “What we are saying is that we want to pay. "We're not saying, 'Let those guys pay because they're the polluters,' we're saying, 'Let's all pay,' and then have a mechanism where we invest these resources to unlock the greatest value from decarbonization," he said. saying.
The statement said a carbon price was key to ensuring “affordable and accessible financing for climate-positive investments at scale” and called for “protecting these resources and decision-making from geopolitical Jordan Mobile Number List and national interests.” The IMF has previously said that a global carbon price would be one of the fastest and most effective ways to reduce carbon dioxide emissions around the world, although the idea of a global carbon tax has struggled to gain traction among some. countries. The Nairobi Declaration will be used by African leaders as a negotiating document at COP28, the UN climate summit taking place in the United Arab Emirates at the end of the year. Rwandan President Paul Kagame, US climate envoy John Kerry and European Commission President Ursula von der Leyen were among the tens of thousands of delegates attending the African Climate Summit in Nairobi , which was a precursor to COP28. The event marked the first time that the African continent came together specifically to consider how to address the climate crisis, looking at both challenges and solutions.
The summit, Von der Leyen also called on international leaders to cooperate in formulating a plan for a global carbon price at COP28. African leaders called for an investment of $600 billion to meet the renewable energy target of 300 GW by 2030, up from 56 GW today. A total of $26 billion in financing and investments was announced for various climate-focused initiatives. The leaders also backed reforms of the multilateral financial system, arguing that development banks need to increase concessional lending to poorer countries. The question of how the World Bank and other multilateral development banks support countries in their climate change financing efforts has become a key battleground in climate discussions. All countries will need to decarbonize energy systems and make other efforts to reduce their greenhouse gas emissions to stop global temperature rise. But countries in the developing world receive only a fraction of the climate finance and investments compared to Western countries.
The statement said a carbon price was key to ensuring “affordable and accessible financing for climate-positive investments at scale” and called for “protecting these resources and decision-making from geopolitical Jordan Mobile Number List and national interests.” The IMF has previously said that a global carbon price would be one of the fastest and most effective ways to reduce carbon dioxide emissions around the world, although the idea of a global carbon tax has struggled to gain traction among some. countries. The Nairobi Declaration will be used by African leaders as a negotiating document at COP28, the UN climate summit taking place in the United Arab Emirates at the end of the year. Rwandan President Paul Kagame, US climate envoy John Kerry and European Commission President Ursula von der Leyen were among the tens of thousands of delegates attending the African Climate Summit in Nairobi , which was a precursor to COP28. The event marked the first time that the African continent came together specifically to consider how to address the climate crisis, looking at both challenges and solutions.
The summit, Von der Leyen also called on international leaders to cooperate in formulating a plan for a global carbon price at COP28. African leaders called for an investment of $600 billion to meet the renewable energy target of 300 GW by 2030, up from 56 GW today. A total of $26 billion in financing and investments was announced for various climate-focused initiatives. The leaders also backed reforms of the multilateral financial system, arguing that development banks need to increase concessional lending to poorer countries. The question of how the World Bank and other multilateral development banks support countries in their climate change financing efforts has become a key battleground in climate discussions. All countries will need to decarbonize energy systems and make other efforts to reduce their greenhouse gas emissions to stop global temperature rise. But countries in the developing world receive only a fraction of the climate finance and investments compared to Western countries.