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Home›Kenya financing›AFRICA: London to focus on climate finance over next 5 years

AFRICA: London to focus on climate finance over next 5 years

By Sherri Christopher
September 29, 2021
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The UK, host of the 2021 Glasgow Climate Change Conference (COP26), has announced its climate finance ambitions. In his address to the United Nations General Assembly on September 23rd, 2021, British Prime Minister Boris Johnson has indicated that his country will direct 30% of its investments towards climate finance over the next five years.

The goal is for the British leader to align his country’s investments with the Paris Climate Agreement, by financing low-carbon solutions, the transition to a carbon-neutral economy and, above all, the adaptation and resilience of sectors, communities, businesses and people affected by climate change.

Invest in eco-responsible solutions

“This new pledge is part of the UK’s contribution to the global climate finance target of $ 100 billion and goes beyond the existing pledge of £ 11.6 billion ($ 15.7 billion dollars). It precedes the COP26 summit in Glasgow in November 2021 ”, says CDC Group, the UK’s development finance institution.

Read also- KENYA: London finances 10,000 green housing and supports green mobility

Africa will be among the main beneficiaries of UK climate finance. The continent is among the regions of the world most affected by climate change, with increasing droughts and floods. According to projections in the World Bank’s Groundswell report, the combination of these factors will displace 105 million Africans by 2050. To avoid this scenario, it will be necessary to reduce greenhouse gas emissions that cause global warming. , by focusing on ecological solutions.

In its investments in Africa, CDC Group is already targeting solutions that emit less CO2. In recent months, London has funded renewable energy production, eco-responsible housing and electric mobility, mainly in Kenya and South Africa.

Jean-Marie Takouleu


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