The Kenya government has cited lack of access to adequate funding options, as a key challenge frustrating the implementation of climate change action plans in developing countries.
According to the ministry of environment, climate change management in developing countries has over the years slowed down due to lack of funds.
This emerged as Kenya’s environment minister Keriako Tobiko advanced the need for adequate and predictable financing instruments to accelerate climate change action plans during the ongoing 24th Conference of the Parties to the United Nations Framework Convention on Climate Change, commonly known as COP 24.
“Access to new, additional, predictable and adequate climate finance is critical for developing countries to implement their priority adaptation and mitigation actions and meet their obligations under the Convention and the Paris Agreement. The time for action is now. Let us all rise to the occasion,” Tobiko told delegates.
While presenting the Kenyan experience in climate change management, Tobiko disclosed that the Kenyan economy was shedding more than two percent of its GDP annually due to climate change.
Such economic losses have driven Kenya to put in place measures to ensure low carbon climate resilient development at all levels.
This, the minister said, presented a case for more collaborative initiatives between countries to stem the effects of climate change.
“These include establishment of a robust climate change legal, policy, institutional and implementation frameworks,” he said.