President Paul Kagame has stressed the need for a more pragmatic approach in addressing climate change, that which involves Africa as a key player in finding global climate solutions.

He said this while addressing the inaugural Africa Climate Summit held in Nairobi between 4^th and 6^th September. The summit which brought together African Heads of State and other world leaders ran under the theme ‘Driving Green Growth and Climate Finance Solutions for Africa and the World’.

In his address, President Kagame recalled the evident threat that climate change poses to the world, and to Africa in particular.

“Africa continues to carry the burden of rising temperatures, despite contributing the smallest share of global greenhouse gas emissions. We cannot just keep talking about it without doing what is required to fix the problem. This is unfair, but in the long run, playing the blame game is not the answer,” he said.

He added: “A more pragmatic approach is for Africa to be a key player in the search for global climate solutions. Africa stands united and should remain so, in this position.”

In this regard, he went on to thank President William Ruto for his exceptional leadership of the Committee of African Heads of State and Government on Climate Change.

Need for reform in the global financial architecture

President Kagame said Rwanda has been working closely with the International Monetary Fund, and that, as a participant in the Resilience and Sustainability Trust, the country has access to long-term financing to further integrate climate into our economic policies.

“This is a good sign that the international community is taking seriously the call to reform our global financial architecture,” he noted.

However, he said there is still room for improvement.

“Any meaningful structural change must favour debt restructuring and lower interest rates, as President William Ruto has so eloquently explained,” he observed, adding that “what Africa wants is fair and equal partnership, which takes our priorities into account. That is going to be the basis for trust and solidarity.”

Meanwhile, President Kagame also made a case for the pivotal role the private sector has to play in green economy growth.

“In Rwanda, we want the private sector to play a greater role in building a green economy. Our strategy is to position ourselves as an attractive destination for international climate financing and investment,” he said.

At COP 27, Rwanda launched Ireme Invest, a green investment facility created by the Rwanda Green Fund in partnership with the Development Bank of Rwanda. The facility has so far mobilized US$200 million from domestic and international partners, including the European Investment Bank and the Green Climate Fund.