COP28 ; President William Ruto stresses on Equitable, Innovative Climate Financing

Dubai, 

Friday, 1 December, 2023. 

McCreadie Andias 

President William Ruto has stressed on his emphasis on the need for equitable and fair climate financing at the face of global leaders during the 2023 COP28 climate summit underway in Dubai. 

Ruto called on need to adopt a more 'responsive' and 'innovative' climate financing strategy. 

"The current climate financing ecosystem must be changed and restructured. It must be made to be more responsive and innovative so as to effectively address the challenges posed by high debt service pressure — especially in developing countries." Ruto said 

The head of state made the remarks on amidst Discussion on “Transforming Climate Finance” with the Managing Director of the International Monetary Fund Kristalina Georgieva, President of France Emmanuel Macron, Prime Minister of the United Kingdom Rishi Sunak, President of Ghana Nana Akufo-Addo and the Prime Minister of Barbados Mia Mottley. 

While adressing the opening plenary of the 2023 United Nations Climate Change Conference , President Ruto insisted that world leaders must merge to a campaign against global decarbonisation. 

"The world must install clear and actionable roadmaps that will turn Africa into a green powerhouse. This is not just essential but also an important ingredient for industrial decarbonisation.

A unified global effort will ensure that we mobilise capital for both our development and necessary climate action. "Ruto said. 

The plenary session saw the attendance of COP28 President Sultan Ahmed Al Jaber, President of the United Arab Emirates Sheikh Mohammed Bin Zayed Al Nahyan, Secretary-General of the United Nations António Guterres and representatives from more than 200 countries.