OAKLAND, CA, Sep 13 (IPS) – In the wake of the recent African Climate Summit, held in Nairobi from 4 to 6 September 2023, the world’s attention was drawn to the pressing challenges facing the African continent as it struggles with the devastating consequences of climate change.
Africa is responsible for less than 4 percent of global emissions and carries significant climate debt from historic polluters, yet has received only 12 percent of the $300 billion in annual financing it needs to tackle climate-related challenges.
The three-day summit culminated in the adoption of the Nairobi Declaration, which articulates the shared position of African countries as they prepare for the upcoming COP28 climate change. Reflecting the deep historical injustices that have left the continent disproportionately vulnerable to worsening climate shocks, the statement calls for “a new financing architecture that responds to Africa’s needs,” including debt restructuring and relief, as well as a “carbon tax on fossil fuels”. trade, maritime transport and aviation, which could possibly also be supplemented by a global tax on financial transactions.”
However, this call for justice rings hollow when we look at the investments and initiatives that were actually prioritized during the Summit, which reveals a striking paradox. During the meeting, the agenda revolved around the expansion of carbon markets – a dangerous and false climate solution that opens the continent to green colonialism and reinforces the status quo of power between North and South.
Hundreds of millions of dollars have been committed to this extractive and speculative system, turning a blind eye to the fact that carbon offsets have spectacularly failed to reduce emissions and have a troubling history of triggering evictions, decimating livelihoods and worsening environmental damage in Africa. as outlined in a recent report from the Oakland Institute.
In one of the event’s most anticipated deals, investors from the United Arab Emirates (UAE) pledged to purchase $450 million worth of carbon credits from the Africa Carbon Markets Initiative (ACMI). Climate Asset Management – a joint venture of HSBC and climate investment company Pollination – also announced a $200 million investment in projects that deliver ACMI credits.
Launched at COP27 by the Global Energy Alliance for People and Planet, Sustainable Energy for All, The Rockefeller Foundation and the UN Economic Commission for Africa, ACMI hands over disproportionate control of Africa’s carbon markets to rich countries and oil interests, allowing polluters to continue emitting with impunity while Africa provides them with carbon credits. Rather than serving the interests of the African continent, the financial commitments made at the Summit risk exacerbating existing inequalities and further increasing extractivism.
However, heads of state and leaders welcomed these investments, furthering the flawed belief that carbon markets are a viable source of climate finance. Kenyan President William Ruto described carbon sinks as an “unparalleled economic goldmine,” while European Commission President Ursula von der Leyen presented “real carbon credits” as a “solution that would free up vast resources for climate action in Africa.”
US Special Presidential Envoy for Climate John Kerry similarly stated that “Africa needs a thriving carbon market as a tool to combat the climate crisis.” Contrary to these claims, carbon markets mainly benefit foreign developers and financial intermediaries – wealthy individuals, companies and organizations based in the Global North – with host countries and local communities often receiving only a small share of the revenue generated.
While the African Climate Summit was dominated by false solutions, the breakthrough came in the form of the alternative Real Africa Climate Summit, which brought together more than 500 civil society groups – demonstrating the strength and vibrancy of the African climate movement.
In response to the failures of the official summit, civil society groups organized an alternative People’s Assembly and March, sparking conversations and cooperation among grassroots movements, peasant organizations, indigenous communities, activists, and faith-based actors.
The result of this counter-mobilization is the African People’s Climate and Development Declaration, which offers a vision for African climate action that is much more ambitious than the Nairobi Declaration. Centered on African solutions, climate justice and a people-centered approach, the People’s Declaration outlines the real solutions African leaders must demand at the upcoming COP28 and beyond.
These include a redefinition of development away from perpetual growth, people-centered renewable energy, agroecology and food sovereignty, ecosystem protection and restoration, a socially just transition away from fossil fuels, and the dismantling of the power of transnational corporations.
Tackling the climate crisis should not come at the expense of those who have contributed least to it. Nor can it be addressed with the same extractive and neo-colonial system that created it in the first place. As we move forward towards COP28 in Dubai, African countries must reject false climate solutions that hand control of their natural resources to wealthy countries in the Global North.
Instead, African leaders must listen to the calls of civil society and prioritize real solutions that pave the way for a just transition and prioritize the well-being of Africa’s people.
Eva Devillers is a research associate at the Oakland Institute, an independent policy think tank bringing fresh ideas and bold action to the most pressing social, economic and environmental issues of our time. www.oaklandinstitute.org
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© Inter Press Service (2023) — All rights reservedOriginal source: Inter Press Service