President William Ruto called out the global climate financing system for unfairly burdening African economies.
He said it was unacceptable for African nations to be expected to raise 60 per cent of climate finance domestically while contributing the least to the climate crisis.
He explained that this is a heavy strain on many countries, especially those already battling high living costs and repeated climate shocks.
“We must not ignore the risks of overtaxing small, vulnerable economies already battling high costs of living and climate shocks.
For many of our citizens, the social contract does not allow this to be the ultimate solution,” he said.
Speaking at the High-Level Solutions Dialogue on Climate Finance on the sidelines of the 80th UN General Assembly, President Ruto asked the global community to adopt innovative solutions to address the climate financing challenge.
He pointed out that the solution lies in stopping illicit financial flows, securing a fair global tax system, reducing sovereign debt pressures, and unlocking major investment.
Ruto Tells Nations To Take Ownership Of Their Health Systems
