Kenya has cited access to predictable and adequate funding options as a key challenge frustrating the implementation of climate change action plans in developing countries.
Environment CS Keriako Tobiko said lack of adequate funds has slowed the pace of climate change management and mitigation.
“Access to new, additional, predictable and adequate climate finance is critical for developing country Parties to implement their priority adaptation and mitigation actions and meet their obligations under the Convention and the Paris Agreement. The time for action is now. Let us all rise to the occasion. Let us save Our Planet,” Tobiko said.
Tobiko made the remarks when he addressed the ongoing 24th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) commonly known as COP 24 that ended on Saturday.
While addressing the high-level conference in Katowice, Poland, Tobiko stressed the need for adequate and predictable financing instruments to accelerate climate change action plans.
Tobiko said the government has recognised the serious threats posed by climate change.
The CS said various agencies including the National Treasury has been leading the process of developing financial instruments for climate proofing vulnerable sectors of the economy.
“This we plan to do through issuance of Sovereign Green Bonds, establishment of the National Treasury as the National Designated Authority for Green Climate Fund, establishment of the Climate Change Fund and the Disaster Risk Financing Strategy all aimed at cushioning the economy from fiscal risks arising from the effects of climate related shocks and natural disasters,” Tobiko said.
Alongside funding, Tobiko pointed it out that individual states cannot manage to comprehensively address climate change.
Tobiko said international cooperation; international cooperative initiatives; shared responsibilities and solidarity, will remain vital components, if countries are to combat climate change.
The CS said Kenyan economy is shedding more than 2 percent of its Gross Domestic Product annually due to climate change.
Such economic losses, he said have driven the government to put in place measures to ensure low carbon climate resilient development at all levels.
“These include establishment of a robust climate change Legal, Policy, Institutional and Implementation Frameworks,” he said.
Tobiko said government’s commitment to climate change management and mitigation is currently enjoying priority attention with President Uhuru Kenyatta chairing the National Climate Change Council.
The National Climate Change Council, provides the requisite political and strategic direction and sectoral coordination mechanism for implementation of climate change responses.
The Council includes representatives of the national and sub-national governments, civil society organisations, the private sector, academia, and indigenous communities.
While reiterating statements shared by the Africa Group of Negotiators at COP 24, Tobiko noted that the talks provide an opportunity to adopt an inclusive and comprehensive Programme of Work to operationalize the Paris Agreement.
Said Tobiko: “However, as we work towards this objective, we need to be careful not to re-negotiate the Convention or the Agreement. We must also maintain the principles and spirit of the Convention and the Agreement including the principle of intra-and-inter-generational equity and common but differentiated responsibilities. As well, we must give life to the enduring spirit of Talanoa Dialogue.”
COP24 is the informal name for the 24th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC).
The UNFCCC is a “Rio Convention”, one of three adopted at the “Rio Earth Summit” in 1992.
The UNFCCC entered into force March 21 1994.
Today, it has near-universal membership.
The countries that have ratified the Convention are called Parties to the Convention.