By Bongiwe Dlamini

MBABANE:Prime Minister Russell Mmiso Dlamini has called for international financial support to fight climate change while enhancing renewable energy projects.

The Prime Minister who was representing King Mswati, was speaking during the opening of the Africa Climate Week in Addis Ababa-Ethiopia on Monday, an event held under the theme, “Accelerating Global Climate Solutions-Financing for Africa’s Resilient and Green Development”.

“The IPCC’s Sixth Assessment Report(AR6) has made it clear that Africa requires nearly US$3 trillion to meet our Nationally Determined Contributions by 2030, yet climate finance flows remain grossly inadequate - falling short at just US$30 billion between 2021 and 2022. The Kingdom of Eswatini joins the call in the Draft Declaration for transformative climate financing, moving from aid to strategic investments in local innovation.We need equitable access to finance, reform of global funding mechanisms-including Multilateral Development Banks (MDBs) to increase concessional finance and African representation-and debt instruments that enable climate action without burdening our economies,” said the Prime Minister as quoted by Government online platforms.

The PM further emphasized the importance of operationalizing the Fund for purposes of Responding to Loss and Damage, the New Collective Quantified Goal (NCQG) on climate finance, and high-integrity carbon markets through initiatives like the Africa Action Plan on Carbon Markets (AAPCM). 

“Unilateral measures, such as the European Union’s Carbon Border Adjustment Mechanism, must not penalise developing countries like ours, potentially costing Africa up to US$25 billion annually by 2030.In the spirit of our African values and the Tinkhundla system of governance, which places people and communities at the centre of decision-making, the Kingdom of Eswatini commits to working with all Member States to ensure that climate action is inclusive, equitable, and driven by the needs of our citizens. We pledge to support the Africa Climate Innovation Challenge (ACIC) and other mechanisms to channel catalytic finance toward youth-led enterprises and nature-based solutions,” he said.