STORY: Africa urged to promote carbon market for sustainable development
SHOOTING TIME: July 24, 2024
DATELINE: July 25, 2024
LENGTH: 00:01:12
LOCATION: Addis Ababa
CATEGORY: POLITICS

SHOTLIST:
1. various of the conference
2. SOUNDBITE 1 (English): HAROLD SAFFA, Chair of Permanent Representative Council Sub-Committee on Environmental Issues at the AU
3. SOUNDBITE 2 (English): NONI MAFABUNE, Representative of the United Nations Development Program
4. various of group photo being taken

STORYLINE:

Africa needs to define a strategic approach to promote carbon trading as a quick measure to reduce greenhouse gas emissions and mobilize additional finance for its green economy development, United Nations (UN) and African Union (AU) officials have said.

The remark was made Wednesday at the Africa Multi-Stakeholder Conference on Carbon Markets at the AU headquarters in Addis Ababa, the capital of Ethiopia.

Speaking at the event, Harold Saffa, chair of Permanent Representative Council Sub-Committee on Environmental Issues at the AU, said the carbon market presents a potential opportunity for Africa to utilize its abundant natural resources and accelerate sustainable industrialization and economic transformation.

SOUNDBITE 1 (English): HAROLD SAFFA, Chair of Permanent Representative Council Sub-Committee on Environmental Issues at the AU
"Africa has vast amounts of carbon stored in its ecosystems with the Congo forests, dubbed the world's 'second lung,' being able to absorb about 1.2 billion tonnes of carbon dioxide each year."

Noni Mafabune, representative of the United Nations Development Program, said Africa bears a disproportionate burden of climate impacts and therefore climate finance is not merely a means of mitigating greenhouse gas emissions but a crucial enabler of resilient and sustainable development across the continent.

SOUNDBITE 2 (English): NONI MAFABUNE, Representative of the United Nations Development Program
"The landscape of climate finance in Africa is evolving with a growing recognition of the need to invest in resilient, sustainable, and green development. While progress has been made, there is still significant scope to enhance access to climate finance, particularly for vulnerable communities."

Xinhua News Agency correspondents reporting from Addis Ababa.
(XHTV)