You must cut carbon emissions, Kagame tells Western countries

CAIRO - Rwandan President Paul Kagame has told off the Western states to cut carbon emissions and also increase investments in Africa to build sustainable green power.

He pointed out that the world should prioritize renewable energy to help reduce carbon emissions and also generate carbon credits.

Rwandan head of state was speaking during the ongoing 27th UN climate conference (COP27) taking place in Egypt.

Carbon credits are derived from a market scheme where an entity that reduces emissions extensively beyond the required levels sells them to those unable to meet their reduction requirements.

“The only thing contribution we are asking the developed countries to do is to reduce their emissions faster while investing with Africa to build sustainable green power.”

President Kagame also launched Ireme Invest - Rwanda’s green investment facility, which raised $104 million in its first capitalization. The facility will invest in the private sector-led green growth in Rwanda by availing sustainable finance.

It is expected to spur the country’s ability to meet the growing opportunities for climate finance in the private sector.

“Rwanda remains committed to inclusive and transparent negotiations for a green and climate-resilient future,” comments Kagame.

The Head of State also urged leaders to be cautious of the impact of Climate Change impact on mother nature which is heading toward an irreversible stage.

“We should not use the question as to whether Africa is ready to make use of climate finance to justify the allocation of these funds to the continent. We have seen the effects of this thinking during the pandemic. Vulnerable nations cannot rely on external financing alone. We need public-private partnerships,” President Kagame affirms.

The Rwandan government continues to manifest its commitment to addressing climate issues by availing different funds to support green projects and attract the private sector to the agenda.

Kagame’s administration hinted that it is imperative to have the private sector fully on board in forming partnerships that encompass effective responses to climate emergencies.

Cop27 brings together world leaders, government representatives, experts, representatives of the private sector and civil society, academics, opinion shapers, and policymakers to discuss pressing matters on climate change and effective responses.

The country is showcasing its green investment opportunities, and bilateral meetings and partner visits are taking place to, among other things, accelerate the mobilization of capital for sustainable projects.

GAROWE ONLINE