President William Ruto has laid out proposals that Europe needs to consider to enable Africa meet its full potential as an energy and climate solution centre.
Speaking in Berlin on Tuesday, Ruto said Africa should position itself to serve European demand for products and services, and not be locked out through trade barriers.
He suggested that the Carbon Border Adjustment Mechanism (CBAM) to be introduced by the European Union to encourage production from places such as Africa.
“Africa could offer low embedded emissions produced using renewable if EU introduces CBAM to the continent,” Ruto said.
In order to enhance innovative financing, The President further recommends that the EU should access more high-quality African carbon credits which offer co-benefits such as biodiversity and improved livelihoods, to be used in the EU Emission Trading compliance market.
“We need to work together to raise standards and avoid low integrity carbon while realising higher prices for African countries and communities that are doing the hard work of protecting nature and managing carbon,” Ruto said
He also noted that the National Assembly is finalising the enactment of the carbon market regulations and activation plan which should be in force in the next few months.
The Head of State was the keynote speaker at the 2023 Berlin Energy Transition Dialogue
President Ruto also noted that aligning European concessional and multilateral capital to Africa’s climate action agenda, will not only generate economic growth and competitiveness but also contribute to addressing the climate crisis for all.
