Ursula Von Der Leyen: Africa has abundant resources to drive global energy transition

The Africa Climate Summit 2023, held in Nairobi, Kenya, showcased the continent's commitment to sustainability and combating climate change. One of the significant highlights of the summit was the European Union's pledge of $27 billion towards Africa's Green initiative. This financial commitment signifies a crucial step in supporting Africa's efforts to transition towards a more sustainable future. On the sidelines of the summit, CNBC Africa's Aby Agina had an exclusive interview with European Commission President, Ursula Von Der Leyen, to discuss Africa's potential in driving the global energy transition. During the interview, President Ursula Von Der Leyen expressed her admiration for Africa's spirit and determination towards embracing a circular decarbonized economy. She highlighted Africa's crucial role as a provider to the world and emphasized the continent's significance as the 'green lung' of the planet, with its abundant carbon sinks playing a vital role in combating global warming. President Von Der Leyen stressed the importance of partnering with Africa and attracting private investments to accelerate the transition to a sustainable future. Additionally, the discussion touched upon the necessity of developing green financial markets, such as green bonds and carbon credits, to tap into private capital seeking sustainable investment opportunities. The President underscored the importance of global support towards Africa's green initiatives, emphasizing the need for partnerships between African leaders, the European Union, and the broader international community. In response to a question about the message she would deliver to African leaders regarding forming partnerships with entities like the EU, President Ursula Von Der Leyen highlighted the urgent plea of the African youth for assistance in combating the effects of climate change. She emphasized the collective responsibility of current leaders towards future generations, urging collaboration and unity in the fight against global warming. The President emphasized that no single entity can tackle climate change alone, stressing the significance of joining forces to secure a sustainable future for our children and grandchildren. The Africa Climate Summit served as a platform for fruitful discussions, commitments, and partnerships aimed at driving Africa's green transition. With the support of global allies like the European Union, African nations are poised to make significant strides towards sustainable development and climate resilience. The pledges made at the summit signify a shared commitment towards a greener, more sustainable future for the continent and the world at large.