Africa: Ruto Urges United African Push for Fair Climate Financing At COP29

African leaders must present a united front at the upcoming United Nations climate change conference to demand a fairer global climate financing system, Kenyan President William Ruto said.

Speaking at a meeting of the Committee of African Heads of State and Government on Climate Change (CAHOSCC), held alongside the 79th United Nations General Assembly in New York, Ruto urged the continent to push for reforms that would increase investment in Africa’s energy transition and boost its climate adaptation efforts.

“The focus at COP29 in Baku, Azerbaijan, should be on securing an equitable climate financing mechanism that addresses the needs of Africa and other developing nations,” said Dr Ruto, who chairs CAHOSCC.

He emphasised that the current level of investment–just three percent globally in energy transition–falls far short of what is needed to combat the worsening impacts of climate change.

President Ruto’s comments come as African nations face mounting climate challenges, from droughts to floods, with the continent contributing the least to global carbon emissions yet suffering the most severe consequences.

He underscored the need for investments in renewable energy, sustainable agriculture, green transport, and nature-based solutions to ensure Africa’s transition to a low-carbon, climate-resilient future.

“These investments are not only vital for Africa but also the entire global community,” Ruto said.

The Kenyan president also stressed the importance of debt sustainability and reforms in the international financial system, highlighting the strain high debt servicing costs place on African nations’ ability to fund climate-resilience projects.

“As climate-related shocks increase in frequency and severity, coupled with high interest rates and credit downgrades, refinancing becomes more expensive, and governments’ capacity to invest in green resilience is constrained,” he added.

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The CAHOSCC meeting, attended by African Union Commission Chairperson Moussa Faki Mahamat and Mauritanian President Mohamed Ould Ghazouani, set the stage for Africa’s strategy ahead of COP29.

Mr Mahamat echoed Ruto’s call for unity, stressing the importance of a cohesive African stance to secure increased climate financing.

Earlier, Dr Ruto hosted the inaugural Steering Committee Meeting of the African Green Industrialisation Initiative (AGII), a platform aimed at unlocking investments for large-scale green industrial and infrastructure projects across the continent.

The initiative seeks to foster partnerships between African leaders and stakeholders in finance, industry, and philanthropy.

“This initiative aligns value chains across the continent and is key to driving Africa’s economic transformation through green industrialisation,” Ruto said.

The African Union has warned that some countries on the continent have already experienced GDP losses of up to five percent due to the effects of climate change, underlining the urgent need for concrete action at COP29.

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