Rwanda is ready to prioritize renewable energy for its own future, Rwandan President Paul Kagame said Tuesday while delivering his country's National Statement at the 27th session of the Conference of the Parties to the UNFCCC (COP27) being held in Egypt.
"The findings of the sixth Intergovernmental Panel on Climate Change show that a more sustainable future remains within reach. Yet, despite growing evidence that the damage of global warming will soon become irreversible, there seems to be little sense of urgency," Kagame said.
"Rwanda, like the rest of Africa, is ready to prioritize renewable energy. We do this, for our own future," he said.
Kagame noted that the most valuable contribution that developed countries can make is to reduce their emissions faster while investing with Africa to build sustainable power. "Questioning whether Africa is ready to make use of climate finance should not be used as an excuse to justify inaction. We have seen effects of this thinking during the pandemic."
He meanwhile called for public-private partnership in green growth, saying vulnerable nations cannot rely on external financing alone.
Rwanda on Monday launched a new green investment facility that will invest in the private sector-led green growth in the east African country by availing sustainable finance. Dubbed Ireme Invest, the investment facility was launched in Egypt with 104 million U.S. dollars in initial capitalization.
Editor: Leon
