President William Ruto of Kenya is set to attend the Global Pact Finance Summit in Paris, France, with a mission to advocate for a new institutional architecture for multilateral climate finance.
This is according to a press release issued by Hussein Mohamed, State House Spokesperson
The summit, which aims to reimagine the global financial system and promote inclusivity, provides a critical platform for Ruto to present bold proposals for the establishment of a fair and adequate framework for financing sustainable development and climate action.
As an ardent supporter of equitable financial institutions, Ruto recognizes the urgent need to address the adverse effects of climate change faced by Kenya, Africa, and the Global South.
Despite contributing the least to global warming and having the lowest emissions, these regions bear the brunt of climate-related challenges.
Read More
Ruto believes that the current discussions surrounding climate change often focus on blame, victimhood, and reparations, neglecting the dialogue on opportunities, investments, and trade that can showcase Africa's vast renewable energy resources, including hydro, wind, solar, and geothermal power, as well as crucial transition minerals.
In Paris, Ruto will emphasize the importance of moving beyond incremental measures that fall short of effectively combating the climate crisis and fail to generate investment benefits for Africa.
He aims to rally support for a new Multilateral Climate Finance Institutional Architecture that addresses the needs of developing nations while fostering sustainable development and climate resilience.
Furthermore, Kenya intends to contribute significantly to shaping a robust African position on climate change during the Africa Climate Summit scheduled to take place in Nairobi from the 4th to the 6th of September.
Ruto's participation in the Global Pact Finance Summit will lay the groundwork for this crucial event, enabling Kenya to play a leading role in shaping climate policies that prioritize the interests of African nations.
His commitment to advocating for a fair and inclusive global financial architecture reflects Kenya's determination to secure adequate funding for climate action and sustainable development.
By actively engaging in these high-level international discussions, Ruto aims to forge alliances, garner support, and champion the cause of climate justice on behalf of Kenya, Africa, and the Global South.