President William Ruto has said Africa will take action in signing a new charter which will improve the present international financial system which is not fit for the climate change era.
“The new charter should be on new ways of financing that is climate sensitive and supports positive growth,” said Ruto as he explained what should be entailed in the new charter.
Speaking during the East African Community High Level Forum on Climate Change and Food Security which was held in Arusha Tanzania on 24th November President Ruto said Sustainable measures on climate change should be invented to reduce its effects.
Ruto also noted that the sustainable measures will be presumed by the East African Community as it awaits for Conference of Parties 28 (COP28) which will be held in Dubai.
“Africa will be calling for a new financial charter that will reform the current international financial system which is an impediment to the inclusive and sustainable development required to mitigate climate change,” he pointed what will take place at COP28.
At the Forum, the head of state added that Africa will showcase its hardworking and skilled human capital, its vast renewable energy reserves among its other assets.
The President also stated that the immense assets of Africa offer the universe the greatest possibility for global green industrialization hence the capability to adapt carbon- free manufacturing.
“Kenya, EAC and Africa are building a global coalition that will help give the world the necessary new dawn that will aid in mitigating the effects of climate change,” Ruto explained.
He as well told his fellow presidents from Tanzania, Burundi and South Sudan that one thing they should strive to achieve at COP28 is climate financing through climate investment.
The Prime Minister of Rwanda Edouardo Ngirente and the Deputy Prime Minister of Uganda Miss Rebecca Kadaga are among the leaders who attended the EAC High-Level Forum.
At COP 28, Africa will be calling for a new financial charter that will reform the current international financial system, which is an impediment to the inclusive and sustainable development required to mitigate climate change. pic.twitter.com/1Wo76wAuIF
— William Samoei Ruto, PhD (@WilliamsRuto) November 24, 2023