Africa private sector coalition declares commitment to climate responsibility framework
Private sector players are committing to shift focus to green projects as part of the African commitments going forward in a bid to decarbonize and lay the foundation stones for a just green transition.
Thu, 14 Sep 2023 14:42:50 GMT
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AI Generated Summary
- Private sector in Africa commits to specific areas to drive green growth and climate finance
- Evolution of private sector role in addressing climate change towards implementation strategies
- Collaboration with stakeholders and formation of organizations to coordinate climate change efforts across economic blocks in Africa
Private sector players in Africa have declared their commitment to shifting their focus to green projects as part of African commitments to decarbonize and pave the way for a just green transition. During a recent interview on CNBC Africa, representatives from the private sector highlighted the importance of collaboration with governments to deliver on climate action commitments. The African private sector coalition has pledged specific commitments in key areas to drive green growth and climate finance in the region. These commitments include establishing mechanisms to scale up green investments, adopting environmentally friendly business models, seeking opportunities for nature-based solutions in decarbonization plans, investing in green mineral projects, and creating critical infrastructure in the food and agriculture sector. The private sector's role in addressing climate change has evolved beyond simply influencing policy, with a focus on implementing strategies that align with the private sector climate change strategy 2022 to 2030. The coalition is working closely with stakeholders, including the East African Business Council, to coordinate efforts across different economic blocks in Africa. The commitment of the private sector to driving sustainable practices and promoting green initiatives demonstrates a collaborative effort towards a greener future for the continent.
