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Home News World News Africa Kenya

UK Climate Finance Projects: Resilience Strengthened

Funding Commitment Reinforced at Inaugural Africa Climate Summit in Nairobi.

Ivan Golden by Ivan Golden
2 weeks ago
in Kenya
Reading Time: 3 mins read
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Official Signage. Photo by Foreign, Commonwealth & Development Office.

Official Signage. Photo by Foreign, Commonwealth & Development Office.

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Table of Contents

  • A Pledge to Combat Climate Change
    • Delivering on Promises
  • Building Resilience Across Africa
    • Private Capital Mobilization
  • UK’s Commitment to Climate Action
    • Reforming the Financial System
  • Green Technologies and Investments
    • Climate and Development Ministerial

 

A Pledge to Combat Climate Change

As the first Africa Climate Summit kicks off in Nairobi from September 4-6, the United Kingdom reaffirms its commitment to the fight against climate change in Africa. In line with its promise of mutually beneficial and dependable investment, the UK unveils a series of new projects valued at £49 million.

These initiatives aim to catalyze funding for climate action and empower communities to better cope with the impacts of climate change, addressing two crucial facets of Africa’s battle against this global crisis.

Notably, this funding is expected to generate employment opportunities, stimulate economic growth, and enhance the well-being of women, farmers, and vulnerable communities across the continent.

 

Delivering on Promises

This commitment underscores the pledge made by UK Foreign Secretary James Cleverley during his visit to Kenya in December 2022, along with the commitments made during COP26. Together, these initiatives highlight the resilience and effectiveness of UK-Africa partnerships.

 

Building Resilience Across Africa

Of the £49 million allocation, £34 million will be dedicated to new projects spanning fifteen African countries. These projects aim to fortify the resilience of women, vulnerable communities, and over 400,000 farmers against the adverse effects of climate change.

Under established programs like CLARE, CIWA, and WISER, early warning systems employing methods such as text alerts, radio broadcasts, and social networks will empower hard-to-reach communities to take proactive measures before extreme climate events occur.

Additionally, these projects will enhance water security for more than 1.5 million individuals.

 

Private Capital Mobilization

Simultaneously, the summit will witness the launch of seven new climate finance projects. These projects, valued at £15 million and backed by UK-supported FSD Africa Investments, will channel capital from private sources, enabling small-scale businesses to access financing, develop innovative products, and deliver inclusive technological solutions.

These efforts include initiatives like transforming arid land into arable farmland. Together, these projects are ready to improve access to essential services, including renewable energy and healthcare, benefiting over 500,000 individuals, creating 3,400 job opportunities, and providing affordable and reliable electricity to households.

 

UK’s Commitment to Climate Action

UK Minister for Development and Africa, Andrew Mitchell, emphasizes the growing importance of partnerships with African nations in the realm of green investment and climate resilience.

He acknowledges the disproportionate burden borne by those least responsible for climate change and highlights the UK’s collaborative efforts to combat climate change, strengthen resilience, and support those most affected.

 

Reforming the Financial System

During his visit to Nairobi, Minister Mitchell will reaffirm the UK’s commitment to providing £11.6 billion in international climate finance over the next five years. He will also call for swift reforms of the international financial system to unlock trillions of dollars to combat climate change.

Additionally, he will celebrate the launch of Weza Power, a partnership between the Government of Burundi and UK-backed company Virunga Power, aimed at expanding energy access to nearly 70% of Burundi’s population.

 

Green Technologies and Investments

Minister Mitchell’s visit will include an exploration of Nairobi Railway City, a city center regeneration project featuring cutting-edge green technology and £11.5 billion in UK investment.

This initiative is one of six climate investment projects fast-tracked following discussions between President Ruto and Prime Minister Sunak at COP27. Since then, construction has commenced, marking significant progress in realizing these sustainable endeavors.

 

Climate and Development Ministerial

Lastly, Minister Mitchell will announce details of the third consecutive Climate and Development Ministerial, hosted by the COP28 UAE Presidency and the UK in the lead-up to COP28. Malawi and Vanuatu will serve as co-chairs for this event. The ministerial, initially launched by the UK ahead of COP26, aims to deliver tangible outcomes related to climate finance access and loss and damage.

 

Sources: THX News, Foreign, Commonwealth & Development Office & The Rt Hon Andrew Mitchell MP.

Tags: Africa Climate Summit NairobiAfrican Partnerships StrengthClimate change mitigationClimate Finance ReformClimate Resilience InitiativesGreen Investment CommitmentInternational Climate FinancePrivate Capital MobilizationSustainable Development MinisterialUK Climate Finance Projects
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Ivan Golden

Ivan Golden

Ivan Golden is a global citizen, having lived in locations across the US, Philippines and UK. His career has been marked by success - starting as a Tennis Pro before he turned his talents to bookselling and fine art dealing.

Married with six children, he's passionate about providing them opportunities for learning through his news, travel and education platform THX News; designed to restore faith in journalism via objective reporting, careful checking of facts, and real reporting.

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