Former Colombian President Marquez calls for urgent intervention on climate action

The Africa Climate Summit currently taking place in Nairobi, Kenya has brought together leaders and experts to address the pressing issue of climate change on the African continent. CNBC Africa's Aby Agina had an exclusive interview with former Colombian President Ivan Duque Marquez on the sidelines of the summit, where they discussed the urgent need for intervention in climate action. Former President Marquez highlighted three key points during the interview. Firstly, he emphasized the importance of policy coordination among African countries to tackle climate change. Secondly, he spoke about the critical need for resources mobilization, estimating that African countries would require about $2.8 trillion over the next eight years to meet their greenhouse gas reduction targets. Lastly, Marquez stressed the significance of real climate action impact, calling for the development of resilient carbon markets in Africa to facilitate this. Marquez underscored the essential role of international collaboration and financial support in addressing the climate crisis in Africa. He noted that African countries alone could not afford the necessary investments and highlighted the importance of engaging both donors and the private sector in developing the continent's carbon markets. The former president also commended the initiative led by Kenya and President Ruto to activate local carbon markets in more than 20 African countries, providing a mechanism to attract buyers for carbon credits and support local communities with sustainable income opportunities. Acknowledging the financial challenges facing African nations, particularly in the wake of the debt crisis, Marquez emphasized the need for creative and innovative approaches to resource mobilization. He highlighted the potential of carbon markets to generate fresh revenue streams for Africa while also promoting emission reductions and sustainability. The former Colombian president urged African governments to seize the opportunity presented by the Africa Carbon Markets Initiative to secure funding for crucial climate projects and alleviate the fiscal pressures they currently face. Looking ahead to the outcome of the Africa Climate Summit and the anticipated Nairobi declaration, Marquez expressed optimism and highlighted key areas of interest. He emphasized the importance of achieving the 30 by 30 target, where countries aim to designate 30 percent of their territory as protected areas by 2030. Additionally, he called for a focus on carbon financing, the implementation of the Africa Carbon Markets Initiative, and ensuring that climate funding reaches local communities directly. As the summit progresses towards COP28, the global climate conference, the urgency of addressing climate change in Africa has never been more apparent. Former President Marquez's insights shed light on the critical need for immediate action and collaboration to mitigate the devastating impacts of climate change on the continent.