STORY: 1st Climate Change Global Business Summit on Africa concludes in Nairobi
SHOOTING TIME: March 19, 2024
DATELINE: March 21, 2024
LENGTH: 00:00:38
LOCATION: Nairobi
CATEGORY: ECONOMY/ENVIRONMENT

SHOTLIST:
1. various of the first Climate Change Global Business Summit on Africa
2. SOUNDBITE (English): ALCINDA PEREIRA, Chairperson of Africa Business Aviation Association

STORYLINE:

The first Climate Change Global Business Summit on Africa concluded on Wednesday in the Kenyan capital of Nairobi.

The two-day meeting brought together more than 200 participants from the United Nations, the African Development Bank (AfDB), and senior government and private sector officials from across Africa to discuss ways to increase climate finance in Africa.

Winnie Chepkemoi Mutai, the AfDB's climate finance specialist, said Africa receives climate finance amounting to about 250 billion U.S. dollars annually, which is about 10 percent of the figure required to combat climate change.
   
"The continent needs to attract more private sector finance in order to bridge its climate finance gap," Mutai added.

She noted that multilateral development finance institutions should strengthen their role in de-risking green projects to make it more attractive for domestic and international private sector players to enter the green space.
  
The air travel sector in Africa contributes less than 2 percent of the continent's carbon emissions, said Alcinda Pereira, chairperson of the Africa Business Aviation Association, adding that greening of Africa's aviation through initiatives such as the use of biofuels or reliance on newer aircraft is likely to result in more climate finance into the continent.

SOUNDBITE (English): ALCINDA PEREIRA, Chairperson of Africa Business Aviation Association
"By 2050, we want to be carbon neutral. And we have also committed to certain targets by 2030. Like anything in life, those commitments require an investment and globally we have committed 7 billion euros to sustainable aviation fuels."

Xinhua News Agency correspondents reporting from Nairobi.
(XHTV)