BAKU, Azerbaijan, November 13. The Roadmap to Mission 1.5 offers a beacon of hope for African countries, said Musalia Mudavadi, Secretary to the Prime Minister of Kenya, at the Troika High-level Dialogue: Our Roadmap to Mission 1.5 towards a future of shared prosperity in Baku, that was held within the COP29 Summit, Trend reports.
"This year's progress in addressing the critical results of swift worldwide market fluctuations is intricately linked to international collaboration. The UAE agreement has underscored essential elements of the climate challenge, highlighting both the shortfall in meeting targets and the deficiency in their effective execution. Although it is crucial to uphold ambitious objectives aimed at restricting global warming to 1.5 degrees Celsius, we must recognize that the UNFCCC mechanism alone cannot achieve the necessary radical change," he said.
Mudavadi noted that the present capitalization of the Green Climate Fund is roughly $13.5 billion. The Climate Policy Initiative indicates that 51 of 53 African countries have evaluated their Nationally Determined Contributions (NDCs) for the 2020-2030 timeframe, uncovering a financing deficit of $2.8 trillion for comprehensive execution.
"It is evident that the UNFCCC’s financial mechanisms are insufficient to address the implementation challenges in line with the goals of the Paris Agreement. The Roadmap to Mission 1.5 offers a beacon of hope for African countries, providing much-needed policy space within the UNFCCC framework. This, in turn, sends a powerful signal to the ecosystems of international cooperation. These ecosystems reflect the realities our countries face as they take urgent climate action at the heart of their efforts," he added.
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