The Institute of Climate and Environmental Governance (ICEG) has expressed appreciation for the dedication shown by African leaders in tackling the urgent challenge of climate change.
This commendation comes following the release of the Communique from the African Climate Summit, where leaders demonstrated their commitment to environmental sustainability.
The ICEG acknowledges the historical significance of the summit and recognizes the positive strides made by African nations in combating climate change adding that the communique signifies a significant step towards fostering a more sustainable and resilient future for the continent.
This commendation was contained in a press statement issued in Accra on Tuesday September 12, 2023 and signed by the ICEG, Hamza S. Suhuyini.
The statement while commending the African Climate Summit Communique, the ICEG also highlights areas that require further attention and improvement. Notably, the Communique lacks specific and quantifiable commitments for reducing greenhouse gas emissions. The ICEG calls for more detailed plans on achieving carbon neutrality and the implementation of specific actions.
Additionally, the ICEG emphasized the need for transparency and accountability in the allocation and management of funds from international sources. To maximize the impact of climate finance, the ICEG recommends the establishment of a robust climate governance framework to ensure proper resource utilization and prevent misuse.
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The Institute also stressed the importance of monitoring, reporting, and enforcing commitments made by African nations with effective mechanisms in these areas are seen as crucial for ensuring the seriousness and effectiveness of climate action.
The ICEG also pointed out the importance of inclusivity in decision-making processes, advocating for the involvement of civil society organizations, youth climate activists, indigenous communities, the private sector, and marginalized groups stating that these diverse voices should be integrated to ensure comprehensive and effective climate solutions.
The statement recommended that African Union (AU) member states should be charged to develop renewable energy governance frameworks with requisite legal backing within their respective states by 2024 with effective governance frameworks with legal backing would prove useful in guaranteeing transparency in the use of climate funds. It will also foster clarity in policy formulation and implementation.
It further recommends thatthe AU should also require an annual percentage allocation of member states Gross Domestic Product towards renewable energy investments while also demanding a percentage of the current energy shortfalls in member states to be filled with renewable energy. This according to ICEG will guarantee continuous investments in clean energy while at the same time reducing the cost of transitioning from conventional sources of energy to renewable energy.
The statement also recommend that AU should introduce regulatory incentives and frameworks that encourage banks to offer green financial products. This includes providing tax incentives, reduced capital requirements, or favourable treatment for green investments adding that; this will encourage private sector involvement in renewable energy development.
It concluded that, while applauding the commitment demonstrated in the African Climate Summit Communique, the ICEG emphasized the need for more precision and action-oriented plans. Transparent and accountable resource allocation, robust monitoring frameworks, and a balanced approach between adaptation and mitigation efforts are crucial for successful climate action.
It stated that by embracing inclusive decision-making processes and encouraging technological innovation, African nations can pave the way towards a sustainable and resilient future.
