Daily Current Affairs : 6-December-2023

The 28th Conference of Parties (COP28) to the United Nations Framework Convention on Climate Change witnessed a pivotal moment as African leaders convened on the third day to launch the Green Industrialisation Initiative. This transformative effort aims to propel the continent towards sustainable growth, attract vital financial support, and tap into lucrative investment opportunities.

The Green Industrialisation Initiative: A Catalyst for Change

Accelerating Green Growth

At the core of this initiative lies the ambition to expedite the green growth of industries across Africa. By doing so, it seeks to unlock the full potential of the continent’s abundant and high-quality resources. This strategic move aligns with the goals set forth in the Nairobi Declaration of the Africa Climate Summit, held in September 2023.

Financial Boost from UAE

Building on the momentum generated by the Africa Climate Summit, the Green Industrialisation Initiative benefits from the existing $4.5 billion Africa green investment from the United Arab Emirates (UAE). This financial injection serves as a crucial stepping stone for the initiative to take root and flourish.

Green Industrialisation: A Path to Sustainable Prosperity

Incorporating SDGs and Paris Agreement

Emphasizing the integration of sustainable practices, the initiative draws inspiration from the Sustainable Development Goals (SDGs) and the Paris Agreement. By weaving these global frameworks into its fabric, the initiative positions itself as a key player in fostering environmental stewardship.

Discouraging Fossil Fuel Dependency

A notable aspect of the initiative is its stance against fossil fuel production and usage. Recognizing the detrimental impact of such practices on global warming, the initiative stands as a beacon for sustainable alternatives that safeguard the planet’s future.

Africa’s Abundance: A Global Asset for Green Transition

Critical Minerals and Carbon Sink

The initiative underscores Africa’s pivotal role in the global transition to renewable energy, highlighting that the continent possesses 40 percent of the world’s critical minerals essential for this shift. Additionally, with the world’s largest natural carbon sink, Africa emerges as a vital player in mitigating the impacts of climate change.

Important Points:
  • The Green Industrialisation Initiative: Catalyst for Change
    • Core objective: Expedite green growth of industries across Africa
    • Alignment with the Nairobi Declaration of the Africa Climate Summit (September 2023)
  • Financial Boost from UAE
    • Leverages existing $4.5 billion Africa green investment from the UAE
    • Crucial financial injection to support the initiative’s establishment and growth
  • Green Industrialisation: Path to Sustainable Prosperity
    • Incorporates principles from the Sustainable Development Goals (SDGs) and the Paris Agreement
    • Stands as a key player in fostering environmental stewardship
  • Discouraging Fossil Fuel Dependency
    • Initiative takes a stance against fossil fuel production and usage
    • Recognition of the detrimental impact on global warming
    • Advocacy for sustainable alternatives that safeguard the planet’s future
  • Africa’s Global Role in Green Transition
    • Africa possesses 40% of the world’s critical minerals crucial for energy transition
    • Africa houses the world’s largest natural carbon sink
    • Africa emerges as a pivotal player in mitigating climate change impacts
Why In News

African leaders came together on the third day of the 28th Conference of Parties (COP28) to the United Nations Framework Convention on Climate Change to launch the green industrialization of the continent, emphasizing their commitment to fostering sustainable economic growth and addressing environmental challenges for the benefit of future generations.

MCQs about Africa’s Green Revolution

  1. What financial support does the Green Industrialisation Initiative leverage to support its goals?
    A. $2.5 billion from Europe
    B. $4.5 billion Africa green investment from the United Arab Emirates (UAE)
    C. No external financial support
    D. Funding solely from African governments
    Correct Answer: B. $4.5 billion Africa green investment from the United Arab Emirates (UAE)
    Explanation: The initiative benefits from the existing $4.5 billion Africa green investment from the UAE.
  2. What global frameworks does the Green Industrialisation Initiative incorporate into its fabric?
    A. Kyoto Protocol and Rio Declaration
    B. Montreal Protocol and Accra Accord
    C. Sustainable Development Goals (SDGs) and the Paris Agreement
    D. Millennium Development Goals (MDGs) and Cancun Agreements
    Correct Answer: C. Sustainable Development Goals (SDGs) and the Paris Agreement
    Explanation: The initiative incorporates elements of the Sustainable Development Goals (SDGs) and the Paris Agreement, aligning itself with global efforts for sustainability.
  3. What vital resources does Africa possess that play a crucial role in the global transition to renewable energy?
    A. Abundant coal reserves
    B. Vast oil fields
    C. 40% of the world’s critical minerals
    D. Extensive natural gas deposits
    Correct Answer: C. 40% of the world’s critical minerals
    Explanation: Africa possesses 40% of the world’s critical minerals necessary for energy transition.

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