President Kagame was received by President Ilham Aliyev of Azerbaijan and UN Secretary-General António Guterres. Photo/Urugwiro Village.
President Paul Kagame on Tuesday joined world leaders in Baku, Azerbaijan for the 29th Conference of the Parties to the UN Framework Convention on Climate Change (COP29), with climate financing for developing countries key on the agenda.
The Head of State was welcomed to Baku Stadium, where the leaders met, by President Ilham Aliyev of Azerbaijan and UN Secretary-General António Guterres before joining other world leaders for the official opening ceremony of COP 29 which is focused on assessing the progress made in achieving Sustainable Development Goals (SDGs), among other things.
During COP 29, negotiators are seeking an increase in the $100bn-a-year target for developing nations as leaders hope to galvanize global players to resolve some of the most critical challenges that affect the planet and its population.
“COP29 marks a pivotal opportunity to accelerate action to tackle the climate crisis. With global temperatures hitting record highs, and extreme weather events affecting people around the globe, COP29 brings together leaders from governments, business and civil society to advance concrete solutions,”
“A key focus of the conference is on finance, as trillions of dollars are required for countries to drastically reduce greenhouse gas emissions and protect lives and livelihoods from the worsening impacts of climate change.” the President’s Office said in a statement on his participation.
World leaders attending COP 29 in Baku, Azerbaijan are discussing urgent climate actions to avert the impact of a climate change.
In Baku, President Kagame held crucial meetings, including with President Kassym-Jomart Tokayev of Kazakhstan on the sidelines of the global meet. They discussed ways to strengthen economic cooperation in various sectors for the benefit of the people of Rwanda and Kazakhstan.
President Kagame also met and held talks with Prince Al Hussein bin Abdullah, Crown Prince of the Hashemite Kingdom of Jordan, focusing on the existing mutually beneficial relations between Rwanda and Jordan.
A call to action
Over the next two weeks, delegates from 198 Parties will tackle critical climate issues at the world’s largest climate summit, with the UN Secretary General stating that “much is at stake” and that it is “It’s time to stand and deliver with the impact of climate change being felt today more than ever.
“The sound you hear is the ticking clock. We are in the final countdown to limit global temperature rise to 1.5 degrees Celsius. And time is not on our side. With the hottest day on record …the hottest months on record …this is almost certain to be the hottest year on record,” Guterres said, adding that 2024 will be “a masterclass in climate destruction”.
President Kagame joined UN Secretary General and fellow leaders and for a group photo.
With families running for their lives before the next hurricane strikes, biodiversity destroyed in sweltering seas, workers and pilgrims collapsing in insufferable heat, floods tearing through communities, and tearing down infrastructure and children going to bed hungry as droughts ravage crops, the UN Secretary General said it is time to act.
“All these disasters, and more, are being supercharged by human-made climate change and no country is spared. In our global economy, supply chain shocks raise costs – everywhere. Decimated harvests push up food prices – everywhere. Destroyed homes increase insurance premiums – everywhere. This is a story of avoidable injustice. The rich cause the problem, the poor pay the highest price,” he emphasized.
Guterres said that unless emissions plummet and adaptation soars, every economy will face far greater fury, calling on countries to implement what was agreed at COP28 by eliminating use of fossil fuels and accelerating net zero energy systems to boost climate adaptation.
“But all countries must do their part and the G20 must lead. They are the largest emitters, with the greatest capacities and responsibilities. They must bring their technological know-how together – with developed countries supporting emerging economies. And every nation must have the tools and resources for climate action,”
“The United Nations is ready to support that effort every step of the way,” he said.
Baku is hoting COP 29
Rwanda is participating in COP 29 at a time the country is undertaking ambitious environmental conservation initiatives, from restoring wetlands to conserving wildlife and biodiversity as well as several climate-financing initiatives that are driving the country’s ambitions.
Dr. Valentine Uwamariya, Rwanda’s Minister of Environment, on Tuesday spoke at the High-Level Roundtable on Energy, sharing some of the initiatives the Rwandan Government is doing to advance green and clean energy.
Minister Uwamariya called for accessible financing and better knowledge-sharing to support developing countries’ energy transitions and climate strategies, especially those showing the will to take action. `At COP29, Rwanda is making climate finance a top priority to drive a just and sustainable future, through different initiatives.
Dr. Uwamariya attending the Ministerial session.
According to Juliet Kabera, Director General, Rwanda Environment Management Authority (REMA), Rwanda is aspiring to become a middle-income country by 2035 and a high-income country by 2050, putting green growth and climate action at the centre of it. The country has set ambitious targets and has revised Green Growth and Climate Resilience Strategy.
The revised strategy has four thematic areas that consolidate eight programmes of action including one on climate resilient energy networks, green industry and private sector participation.
The country’s updated nationally determined contribution, submitted in 2020, underscores this dedication, with a target of cutting greenhouse gas emissions by 38% by 2030 compared with a business-as-usual scenario. Rwanda’s climate strategy includes both unconditional measures, accounting for 16% of the reduction, and conditional measures, which depend on external financing and make up the remaining 22%.
“Achieving these ambitious sustainable development pathways requires significant financial resources, however. Securing the necessary climate finance remains a key challenge, as finance is often seen as the engine driving progress. Yet not all financing leads to sustainable outcomes,” Kabera wrote as COP 29 opened.
Rwanda was represented at the opening of COP 29.
“That is why financing a just transition as a tool has come at the right moment to support the greening of the economy in a way that is fair and inclusive. Rwanda is prioritising the creation of decent work opportunities, ensuring that no one is left behind in this green transformation,” she added.
Rwanda’s updated NDC has a projected cost of $11 billion through 2030. Of this total, 40% is expected to be mobilised internally, and the remaining 60% will require external support. Kabere said the projected costs are calculated based on sectoral emissions from the greenhouse gas inventory, focusing on the sectors that emit the most and those that require greater focus on climate resilience.
The total budget is divided between mitigation and adaptation measures. Mitigation accounts for $5.7 billion, with 26% of this allocated to soil and water conservation efforts. Adaptation measures total $5.3 billion, with the agriculture sector receiving the largest share of 55%, as it plays a critical role in enhancing food security and resilience against climate shocks.
Piecing together a strong climate finance network
To address the financing gap, Rwanda has taken significant steps to strengthen its climate finance framework by establishing the Rwanda Green Fund as a public institution responsible for mobilising and effectively utilising climate finance. A notable milestone is the establishment of IREME Invest, a green investment facility for Rwanda’s private sector to support green business growth in the areas of clean energy and smart mobility, among others.
Teddy Mugabo, CEO Rwanda Green Fund, speaks during the session. Rwanda is eyeing more climate financing through several initiatives.
Rwanda has mobilised a substantial amount of domestic and international resources. It has also secured partnerships with multilateral organisations and aligned its development priorities with sustainability objectives.
Rwanda also launched its ‘Green Taxonomy’ in 2023 to serve as a valuable framework for shaping and defining sustainable economic activities, establishing standards for green bonds and loans, and advancing the government’s climate budget tagging initiative.
Kabera said that Rwanda is committed to further enhancing its institutional capacity for climate finance and action and to share best practices and lessons learned on enhancing climate action and financing a just transition.
President Kagame met with President Kassym-Jomart Tokayev of Kazakhstan on the sidelines of #COP29.
Gianni Infantino, FIFA President cracks a joke with President Kagame at COP 29.
