Daily Current Affairs : 9-September-2023
The inaugural Africa Climate Summit (ACS23), held in Nairobi, has concluded with the historic ‘Nairobi Declaration,’ marking a significant milestone for the African continent. This declaration not only provides a united voice for Africa but also sets the stage for its engagement in global climate initiatives. With the theme of “Driving Green Growth and Climate Finance Solutions for Africa and the World,” ACS23 aimed to address critical issues concerning climate change, finance, and sustainability.
The Nairobi Declaration: A Common Voice for Africa
The ‘Nairobi Declaration’ emerges as the heart of ACS23, outlining Africa’s collective stance on climate change and sustainable development. It serves as the foundation for Africa’s participation in global climate negotiations, unifying its diverse nations under common objectives.
Key Highlights of the Nairobi Declaration
Securing Funding for Climate Mitigation and Adaptation
One of the central themes of the declaration is the urgent call to secure funding for climate mitigation and adaptation efforts. This includes financial support from developed nations and a proposed carbon tax on fossil fuel trade, maritime transport, and aviation.
Promoting Green Investment Opportunities
The declaration highlights the immense green investment opportunities within Africa’s emerging blue and green economies. It underscores the potential for sustainable economic growth through environmentally conscious practices.
Honoring Climate Finance Pledges
Addressing developed nations, the declaration emphasizes the importance of fulfilling the annual climate finance pledge of $100 billion. This pledge is critical for helping developing nations cope with the impacts of climate change.
Emission Reduction in Line with Paris Agreement
Africa commits to accelerating efforts to reduce emissions in accordance with the Paris Agreement, demonstrating its dedication to global climate goals.
Phasing Out Coal and Abolishing Fossil Fuel Subsidies
The Nairobi Declaration calls for the acceleration of coal phase-out and the elimination of fossil fuel subsidies, vital steps toward a sustainable future.
Operationalizing the Loss and Damage Facility
The declaration seeks to operationalize the Loss and Damage facility agreed at COP27, ensuring support for communities affected by climate-related disasters.
Debt Relief Interventions
Recognizing the debt challenges faced by many African countries, the declaration proposes measures such as extending debt repayment periods and implementing a 10-year grace period to align borrowed funds with development objectives.
Unlocking Clean Energy Investment
The Nairobi summit placed a significant focus on unlocking investments in clean energy. One of the summit’s major commitments is a $4.5 billion finance initiative dedicated to promoting clean energy across the continent.
Important Points:
The Inaugural Africa Climate Summit 2023
- Held in Nairobi, Kenya.
- Culminated in the ‘Nairobi Declaration.’
- Aimed to provide Africa with a common voice in global climate initiatives.
- Theme: “Driving Green Growth and Climate Finance Solutions for Africa and the World.”
Key Highlights of the Nairobi Declaration
- Urgent call for securing funding for climate mitigation and adaptation.
- Emphasis on green investment opportunities in Africa’s blue and green economies.
- Urges world leaders to support a proposed carbon tax on fossil fuel trade, maritime transport, and aviation.
- Calls for honoring the annual climate finance pledge of $100 billion by developed nations.
- Commitment to accelerating efforts to reduce emissions in line with the Paris Agreement.
- Advocates for phasing out coal and abolishing fossil fuel subsidies.
- Seeks to operationalize the Loss and Damage facility agreed at COP27.
- Proposes debt relief interventions for African countries facing debt challenges, including extending repayment periods and instituting a 10-year grace period.
- Focus on unlocking investments in clean energy, with a $4.5 billion finance initiative pledged.
Why In News
The Africa Climate Summit 2023 draws to a close with the historic ‘Nairobi Declaration,’ signaling a resolute commitment to addressing the continent’s pressing environmental challenges. This monumental accord represents a unified stance among African nations towards sustainable development and climate action in the face of a changing world.
MCQs about ACS23: Nairobi Declaration’s Key Climate Commitments
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What was the primary theme of the Africa Climate Summit 2023 (ACS23)?
A. Promoting fossil fuel usage
B. Advancing clean energy solutions
C. Exploring sustainable agriculture
D. Encouraging deforestation
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What does the ‘Nairobi Declaration’ urge world leaders to support?
A. Tax reductions on fossil fuels
B. An annual climate finance pledge of $100 billion
C. Increasing coal production
D. Subsidies for fossil fuel industries
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What is one of the key recommendations of the ‘Nairobi Declaration’ regarding debt relief for African countries?
A. Increasing interest rates on existing loans
B. Extending debt repayment periods
C. Implementing immediate debt repayment
D. Reducing grace periods
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What major financial initiative was pledged at the Africa Climate Summit 2023?
A. $1 billion for fossil fuel subsidies
B. $4.5 billion for clean energy investment
C. $10 billion for coal production
D. $50 billion for deforestation projects
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