Kenya is among African countries set to miss out on anticipated billions from developed nations.
The setback was occasioned by developing nations differing from third-world countries on funds set to be disbursed as compensation for global warming effects.
African countries were among the nations that pressured the first-world countries to ratify the deal at the United Nations Climate Change Conference (COP 27) in Egypt.
Developed nations, however, refused to sign the compensation formula known as loss and damage finance facility.
They argued that developed nations are to blame for global warming, whose adverse effects are mostly felt in Africa.
“We are not where we need to be in order to close this conference with tangible and robust outcomes,” COP27 President Sameh Shoukry stated on the stalemate.
“There hasn’t been a real effort to bring the issue of funding to a consensus,” a European negotiator added, dashing hopes of African nations.
President William Ruto was one of the leaders who had called for developed nations to fund developing nations to combat climate change and other effects of global warming.
While speaking to Al Jazeera on September 24, Ruto committed to rallying the global community to mobilize resources for climate adaptation at COP27.
“And that is why Kenya will be looking at COP27 to provide the framework where financing for climate adaptation and climate mitigation,” Ruto promised back then.
“The spread and frequency of climate change-related disasters has risen in numerous regions of Africa,” William Ruto noted while making a case for funding at COP27 in Egypt on November 7.
Kenya is one of the countries most affected by global warming, with the country experiencing prolonged drought and famine.
The President noted that Kenya needed the funding because development funds in the country were being used to fight famine and drought.
“I am asking the multilateral financial institutions to re – think because many countries are re – organizing their budgets to provide for climate change effects rather than their development,” Ruto told Al Jazeera.
Source: kENYANS.CO.KE
