Van der Leyen assures that Europe is not only interested in Africa’s resources and offers an alliance for climate

The President of the European Commission, Ursula van der Leyen, assured this Tuesday that Europe is not „interested in resource extraction” in Africa, but wants to „partner” with the continent to build local value chains because it is a strong Africa. A supplier, „higher” Europe will diversify its supply chains and „lower risk” both economies will operate. „We want to share European technology with you. We want to invest in the competence of local workers,” the German leader said in his speech at the African Climate Summit in Nairobi (Kenya). , serving as a pre-forum to prepare for COP28 in Dubai, which begins on November 30. Van der Leyen celebrated some recent progress on climate issues, such as the climate change legislation adopted by Kenya during the summit. Although both continents appear, they share the same interest when it comes to climate action.” „Climate action can be one of the pillars of the development of the African economy,” highlighted the head of social management, while he recognized that achieving it requires „massive investments”, a financial „gap”. „Europe Want to help close. But knowing that „public money from major economies, as important as it is, is not enough,” van der Leyen argued that „the debate on financing the fight against climate change must be taken to the world stage, to COP28.” Attracting private investment to Africa is proposed to do so through carbon pricing and the establishment of global targets for the energy transition. In this sense, he offered the EU’s experience in mobilizing „large-scale” private capital through green bonds, which would help emerging economies overcome barriers to access capital markets while putting „pressure” on the part of investors. Likewise, he encouraged African countries to defend global goals for energy transition, as they would not only provide a „reference point” but also attract „more private capital”. „I look forward to working with you and hope that Africa and Europe will work together to reach a global agreement at COP28,” added van der Leyen, who ended his speech by recalling South Africa’s historic leader, Nelson Mandela. Until what happens”.