President Ruto calls for global renewable energy commitment
National
By
David Njaaga
| Sep 24, 2024
President William Ruto has urged global leaders to commit to renewable energy investment.
He was speaking during the Global Renewables Alliance Summit on Tuesday, September 24, in New York.
He noted that nearly 600 million Africans lack access to electricity, which hinders progress on the Sustainable Development Agenda and the Paris Agreement goals.
Ruto explained that Africa has vast renewable energy resources but receives less than 2 per cent of global investment in this sector.
He pointed out that the continent added less than 3 gigawatts of renewables last year, while the world achieved a record addition of nearly 500 gigawatts.
READ MORE
Why surveyors oppose nomination of National Land Commission members
Why Tullow's Turkana oil sale deal is at risk over Sh22b tax claim
Why tougher capital rules are reshaping Kenya's insurance industry
AI platform to fast-track women, youth into Kenya's green jobs
New Sh400 million mall targets Nairobi's Eastlands retail boom
Travellers to complete airport transactions via mobile money
How UAE's Sh130 billion AI initiative could transform African economies
How a grieving Busia couple turned agony into profitable venture
SL-African maritime experts urge safeguards over IMO carbon curbs
During his remarks, Ruto discussed the need for Africa to pursue industrialisation and economic growth to combat energy poverty.
He noted that unreliable and costly energy limits Africa's ability to harness its resources for development.
"We must establish anchor industrial demand driven by energy-intensive industries," said Ruto.
Ruto introduced the Africa Green Industrialisation Initiative (AGII), launched at COP28, aimed at expanding renewable energy on the continent.
He announced an upcoming investment forum on renewable energy in Nairobi next month.
He observed that the "Pact of the Future," adopted this week, requires commitment to address global financial gaps in renewable energy.
"The power of choice is in our hands - literally and figuratively. Let's wield it wisely and make it count!," he added.