NAIROBI, Kenya, Feb 20 – President William Ruto has called for renewed efforts to hold rich nations responsible for their contribution to global warming.
Ruto also urged reforms on international financial institutions to better combat climate change.
In a Sunday interview with the Al Jazeera in Addis Ababa, Ruto said that poor countries, particularly those in Africa, have been disproportionately affected by climate change.
He singled out increased droughts despite countries in the continent being the least responsible for carbon emissions.
“The same financial system today favors the emitter, favors those who pollute, they get development funds cheaper than we do,” he argued.
“Those of us who are not polluting, those of us who are not emitters are being punished and by saying this we are paying 100 times more than them,” Ruto told the Doha-based news network.
“As things stand today the current financial set up favors those global North against global South. In fact all African sovereign states that have gone to the international financial market pay around 10 per cent while our compatriots in the global North are paying anywhere between 0.05/0.1 per cent,” he said.
Ruto proposed that the financial system be “redesigned” and replaced with “a new system that is accountable.”
“We need to make those who have brought us here to the climate crisis that we are experiencing, the emitters, be held accountable and a system that works for everybody.” he said.
Paradigm shift
Ruto added that time was ripe for a paradigm shift and African countries should not be viewed as “beggars” in climate talks.
The President said Africa should be seen as a key partner adding the global financial system must be overhauled if any results are to be achieved.
Ruto added: “Multilateral financial banks and entire international financial system has not been just, fair and accountable and all we are asking is that we do not want a financial system that favors us, we want a fair one.”
The Horn of Arica is one of the region’s most vulnerable to climate change and extreme weather events are occurring with increased frequency and intensity.
For years, African governments have been demanding that the world’s top polluters to pay their fair share for emissions have caused “loss and damage” to developing economies.
The latest round of United Nations climate talks held in Egypt in 2022 agreed on a fund to cover costs that developing countries face from climate-linked natural disasters like rising sea levels.
