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COP28 Presidency Partners with African Leaders to Raise Climate Ambitions, Seize Opportunity of Green Growth Through Fairer Climate Finance for Africa
- COP28 President-Designate Dr. Sultan Al Jaber addressed the inaugural Africa Climate Summit, held in Nairobi, Kenya.
- Speaking to heads of state at its high-level opening, Al Jaber announced a $4.5 billion clean energy investment initiative between the UAE and Africa that aims to unlock Africa’s capacity for sustainable prosperity.
- Working together, The Abu Dhabi Fund for Development, Etihad Credit Insurance, Masdar and AMEA Power will join with Africa 50 as a strategic partner under the guidance of the UAE and African leadership to “develop 15 GW of clean power by 2030.”
- The initiative will “demonstrate the commercial case for clean investment across this important continent” and will be “designed to work with Africa, for Africa.”
- “Will act as a scalable model that can and should be replicated and will support COP28’s global goal of tripling renewable energy by 2030.”
- “Al Jaber grounded his remarks in the reality that “the world is losing the race to secure the goals of the Paris Agreement and struggling to keep 1.5 within reach” And that Collectively, “we are not delivering the results that we need in the time we need them.”
- Al Jaber cited that currently, “Africa contributes just 3 per cent of global emissions, yet suffers some of the worst consequences. Droughts, floods and failed harvests have exposed one fifth of Africa’s people to hunger, tripled the number of people displaced in the last three years, and is dragging down Africa’s GDP growth by at least 5 per cent every year.
- In response, he called on “all parties to unite around a plan of action that is fully inclusive, that fast tracks a just, responsible and well managed energy transition, focuses on people, lives and livelihoods, and fixes climate finance.”
- Al Jaber called Africa “a beacon of hope, filled with potential and a global example of what pro-climate, nature positive development should look like, adding that “it simply makes sense for Africa to get a fairer share of the pie.”
- The “key to making this happen is finance, but it must be made available, accessible and affordable.”
- In his remarks, the COP28 President-Designate made calls to raise ambitions, including by “calling on donors to close out the 100-billion-dollar pledge they made over a decade ago, to replenish the green climate fund, to double adaptation finance by 2025 and for all parties to transform the Global Goal on Adaptation from theory into real action and tangible results.”
- He also called for “early pledges for the loss and damage fund to help vulnerable countries.”
- “What was promised in Sharm El Sheikh, must be delivered in Dubai.”
- During the three-day trip, the Al Jaber spoke on multiple platforms on topics including cooling, youth engagement, adaptation and security; as well as meeting with African leaders and visiting local communities experiencing climate-related hardships.
- Dr. Al Jaber was joined by esteemed member of the COP28 leadership team, including HE Shamma Al Mazrui, Youth Climate Champion; HE Razan Al Mubarak, UN Climate Change High-Level Champion; HE Ambassador Majid Al Suwaidi, Director-General of COP28 and HE Adnan Amin, CEO of COP28
NAIROBI, Kenya, Sept. 5, 2023 /PRNewswire/ — COP28 President-Designate Dr. Sultan Al Jaber addressed the inaugural Africa Climate Summit, held in Nairobi, Kenya, where he emphasised the need for mitigation and adaptation finance as critical success factors for climate progress in Africa and globally.
Noting that the world is “losing the race to secure the goals of the Paris Agreement and struggling to keep 1.5 within reach,” Dr. Al Jaber called on “all parties to unite around a plan of action that is fully inclusive, a plan of action that fast tracks a just, responsible and well managed energy transition, focuses on people, lives and livelihoods, and fixes climate finance.
Addressing heads of state at the high-level opening of the summit, Al Jaber announced a new $4.5 billion initiative between the UAE and Africa that seeks to unlock Africa’s capacity for sustainable prosperity.
Al Jaber announced that “The Abu Dhabi Fund for Development, Etihad Credit Insurance,
Masdar and AMEA Power will join with Africa 50 as a strategic partner under the guidance
of the UAE and African leadership to develop 15 GW of clean power by 2030. Working together, we will deploy 4.5 billion dollars that will catalyze at least an additional 12.5 billion dollars from multilateral, public and private sources.”
“It is our ambition that this will launch a new transformative partnership to jump start a pipeline of bankable clean energy projects,” said Al Jaber.
The President-Delegate explained that the partnership will “demonstrate the commercial case for clean investment” across Africa and “act as a scalable model that can and should be replicated…it is designed to work with Africa, for Africa.”
Al Jaber acknowledged that “Africa contributes just 3 percent of global emissions, yet suffers some of the worst consequences. Droughts, floods and failed harvests have exposed one fifth of Africa’s people to hunger, tripled the number of people displaced in the last three years, and is dragging down Africa’s GDP growth by at least 5 per cent every year.
Al Jaber also recognized the scale of energy poverty within Africa, acknowledging that “almost half of Africa’s population still have no access to electricity, almost one billion people lack clean cooking fuels, and this energy gap will only increase as Africa’s population grows.”
Discussing how to fast track low-carbon solutions for Africa’s growing population, Al Jaber said that the “key to making this happen is finance, but it must be made available, accessible and affordable.”
As a part of the COP28 Presidency’s Action Agenda, Al Jaber emphasized his plan to fix climate finance. He urged donors to “close out the 100-billion-dollar pledge they made over a decade ago and to replenish the green climate fund…In parallel, we need a complete upgrade of the global financial architecture that was built for a different era. IFIs and MDBs must up their game, including by raising concessional capital and lowering debt burdens. They need to attract and leverage private capital at a multiple. And the multilateral, public and private sectors need to mesh together and work as true partners to accelerate the delivery of practical solutions and real, impactful projects on the ground.”
Addressing the imbalance between financing for mitigation and adaptation, Al Jaber called on donors to “double adaptation finance by 2025”, and to “transform the Global Goal on Adaptation from theory and text into tangible action and real results.” We also need early pledges for the loss and damage fund, to help vulnerable countries recover from severe climate impacts that they are already experiencing:
The COP28 President-Designate stated, “What was promised in Sharm El Sheikh, must be fully operational in Dubai.”
During his remarks, Al Jaber also highlighted many of Africa’s trailblazing climate initiatives noting that many African countries are already leading the way. Al Jaber noted how “Kenya is closing in on its goal of 100 per cent clean energy by 2030, the African Union’s Great Green Wall is helping reclaim degraded agricultural land across the Sahel. Ethiopia’s Green Legacy Initiative is enhancing food security and stimulating green jobs across the Horn of Africa. And the countries of the Congo Basin are protecting vital rainforests and helping preserve the world’s natural carbon sinks.”
Al Jaber expressed his belief that Africa is “a beacon of hope, filled with potential and a global example of what pro-climate, nature positive development should look like.”
Al Jaber concluded his remarks at the summit by saying that climate change is a “global fight and demands a global solution”. If Africa loses, we all lose, If Africa succeeds, we all succeed. Progress for one is progress for all.
This inaugural Africa Climate Summit was co-hosted by the Republic of Kenya and the African Union Commission, to convene national leaders from across Africa and the world, as well as leading figures from business, policy and civil society: to design and catalyze solutions which address climate change in Africa and across the world. The summit was attended by global and African leaders, including UN Secretary-General Antonio Guterres, President of the European Commission Ursula von der Leyen, Chair of the African Union Commission, H.E. Moussa Faki Mahamat, and President of the African Union, H.E. President Azali Assoumani.
The full COP28 Presidency team accompanied the COP28 President-Designate to the Summit, taking part in a series of speaking engagements, meetings with national leaders, and community visits to improve collaboration on climate action.
The full COP28 UAE Presidency leadership team consists of:
- His Excellency Dr. Sultan Al Jaber, President-Designate for COP28
- Her Excellency Shamma Al Mazrui, Youth Climate Champion
- Her Excellency Mariam Almheiri, Minister of Climate Change and Environment
- Her Excellency Razan Al Mubarak, UN Climate Change High-Level Champion
- His Excellency Ambassador Majid Al Suwaidi, Director-General of COP28
- His Excellency Adnan Amin, CEO of COP28
- Hana AlHashimi, UAE Chief Negotiator COP28
During the visit, H.E. Al Mazrui visited the Kibera Slum, Africa’s largest urban slum, to meet individuals whose lives are profoundly affected by climate change. UN Climate Change High Level Champion for COP28 Razan Al Mubarak took part in a series of events focusing on nature-based solutions for climate action, investments for nature, and inclusion.
COP28’s Director General Ambassador Al Suwaidi participated in an event to develop solutions for Voluntary Carbon Markets and announced a new ‘Pact on Fragility’, developed in collaboration with Kenya and Germany, to drive finance to countries experiencing climate change and conflict. Ambassador Al Suwaidi also visited the Dadaab refugee camp and witnessed the experience of refugees who have fled conflict in Somalia, whose hardships are compounded by prolonged droughts.
Dr. Al Jaber also engaged in bilateral meetings with African leaders, including the presidents of Kenya, Nigeria, Ghana, Mozambique, African Development Bank, and several important officials and heads of states. Discussions revolved around mobilizing broader support for the COP28 agenda, addressing vulnerability to climate change impacts, seeking critical EU endorsement for COP priorities, garnering support for the hydrogen agenda, accelerating financing for adaptation efforts, and pursuing outcomes related to nature conservation packages, and many other important areas.
Notes to Editors COP28 UAE:
- COP28 UAE will take place at Expo City Dubai from November 30-December 12, 2023. The Conference is expected to convene over 70,000 participants, including heads of state, government officials, international industry leaders, private sector representatives, academics, experts, youth, and non-state actors.
- As mandated by the Paris Climate Agreement, COP28 UAE will deliver the first ever Global Stocktake – a comprehensive evaluation of progress against climate goals.
- The UAE will lead a process for all parties to agree upon a clear roadmap to accelerate progress through a pragmatic global energy transition and a “leave no one behind” approach to inclusive climate action.”
- The four pillars of the COP28 Presidency’s Action Agenda are fast tracking the energy transition, fixing climate finance, focusing on people, lives, and livelihoods, and underpinning everything with full inclusivity.
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President Emmerson Mnangagwa met this week with Zambia’s former Vice President and Special Envoy Enoch Kavindele to discuss SADC’s candidate for the AfDB
President Mnangagwa, who is SADC Chairperson, reaffirmed his own country’s and SADC’s enthusiastic support for Zambian candidate Sam Maimbo
LUSAKA, Zambia, Dec. 20, 2024 /PRNewswire/ — Special Envoy Kavindele released the following statement following the meeting:
“I am elated to witness the growing success and momentum of Sam Maimbo’s candidacy to become the next President of the African Development Bank. I am filled with gratitude to our friends across both SADC and COMESA for their continued support and good wishes.
Sam has garnered such wide consensus due to his being uniquely qualified to deliver the transformative change and empowerment our continent needs. Sam’s 30 years in development work is defined by driving outcomes, improving processes, and investing in people. The AfDB needs a hands-on leader who is laser focused on delivering results and who is unafraid of making tough decisions in order to best serve our continent. Sam is that leader. Sam has the track record and experience to drastically enhance the pace, scale, and impact of the Bank’s work in service of the people and governments of Africa.
Our region has a proud history of supporting fellow Southern Africans. For example, we all recall Lusaka’s role in hosting the African National Congress’ headquarters during the dark days of Apartheid oppression.
It therefore gives me no pleasure to observe my South African brothers, who have themselves leant on Zambia’s steadfast friendship over many decades, fail to rally behind both SADC and COMESA’s chosen candidate for the AfDB. Africa’s urgent economic development challenges demand transformational leadership at the AfDB, it is all of our responsibility to put forward the best candidate for the job. This is not the time or place for a government to act with narrow self-interest, we all must act in the continent’s and AfDB’s best interest.
I thank Sam Maimbo for his lifelong service to our entire continent, and I am eager to witness his enormous impact as President of the AfDB.”
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Stay Cyber Safe This Holiday Season: Heimdal’s Checklist for Business Security
LONDON, Dec. 20, 2024 /PRNewswire/ — Heimdal Security shares a practical holiday cybersecurity checklist, offering expert insights to help businesses safeguard against cyber threats this festive season.
With reduced staffing, remote work setups, and a surge in online shopping creating heightened vulnerabilities, this guide offers actionable tips to enhance business security.
Going beyond basic advice, the checklist also highlights the most common holiday scams and features videos showcasing real-life examples of Christmas-themed cyber scams and effective prevention strategies.
Key Tips to Protect Businesses This Holiday Season:
- Strengthen endpoints: Ensure devices are updated with antivirus and endpoint protection software; consider Endpoint Detection and Response (EDR) and application whitelisting.
- Prepare for phishing spikes: Train staff to identify suspicious emails, enforce robust email filters, and establish protocols for reporting unusual activity.
- Secure remote access: Mandate VPN usage, monitor unusual logins, and deactivate inactive accounts temporarily.
- Segment and shield networks: Isolate sensitive areas, deploy DNS security and advanced firewalls, and maintain full visibility over network traffic.
- Apply timely patches: Regularly update all systems and test patches in a controlled environment to minimize disruptions.
- Mitigate supply chain risks: Assess vendors thoroughly and limit their access to essential systems.
- Have a response plan ready: Tailor incident protocols for the holidays, create an on-call rotation for the IT team, and enable rapid action against suspicious activity.
“ Cybercriminals thrive on holiday distractions, but with proactive measures like phishing training, secure endpoints, and network segmentation, businesses can stay ahead of potential threats,” said Alex Panait, System Administrator at Heimdal Security.
Common Holiday Scams That Businesses Should Watch For:
Cybercriminals often tailor their tactics to exploit the festive season. The most common scams include:
- Spear phishing: Emails disguised as holiday bonuses or event invitations that steal credentials or spread malware.
- Malicious holiday E-Cards: Festive greetings that contain links deploying ransomware or spyware.
- Fake E-Commerce sites: Fraudulent websites offering discounts to steal payment information.
- Insider threats: Distracted or disgruntled employees mishandling or exploiting sensitive data.
- Corporate travel scams: Fake booking platforms targeting business travelers.
- Business email compromise (BEC): Fraudulent requests for urgent wire transfers during year-end financial rushes.
For more, read the full article here or watch the video on YouTube to see how these threats unfold and learn actionable prevention strategies.
About Heimdal:
Established in Copenhagen in 2014, Heimdal® empowers CISOs, security teams, and IT administrators to improve their security operations, reduce alert fatigue, and implement proactive measures through a unified command and control platform.
Heimdal’s award-winning cybersecurity solutions span the entire IT estate, addressing challenges from endpoint to network levels, including vulnerability management, privileged access, Zero Trust implementation, and ransomware prevention.
For further press information:
Madalina Popovici
Media Relations Manager
[email protected]
View original content:https://www.prnewswire.co.uk/news-releases/stay-cyber-safe-this-holiday-season-heimdals-checklist-for-business-security-302337465.html
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According to Tickmill survey, 3 in 10 Britons in economic difficulty: Purchasing power down 41% since 2004
The people who have the most problems are women (30%) and are between 35 and 49 years old (39%)
ROME, Dec. 20, 2024 /PRNewswire/ — The purchasing power in the UK has dropped by 41% over the last 20 years. Today, £100,000 left in a bank account since 2004 without being invested would now be worth £59,021.
This figure is one of the findings from a study conducted by Tickmill, an international online trading broker that compared the economic situation in the UK and the European Union through the infographic “Purchasing Power and Cost of Living: UK vs EU”.
The analysis reveals a slight decline of 0.4% in the UK’s purchasing power, which currently stands at £41,573. In contrast, the European Union has seen a modest rise of 0.1%, reaching £40,874.
Why is purchasing power declining in the UK? One key factor is the cost of living. If the UK were still part of the European Union, it would rank as the fifth most expensive country, behind Ireland, Luxembourg, Denmark, and the Netherlands.
Unsurprisingly, 3 in 10 Britons are struggling with the cost of living. Women (3 in 10, compared to 25% of men), those aged between 35 and 49 (4 in 10), households earning less than £15,000 (6 in 10), and single parents (1 in 2) are among the most affected groups.
Among UK nations, Northern Ireland is the hardest hit, with 34% of its population facing financial difficulties, followed by Wales (31%), England (28%), and Scotland (22%). In England, the North East has the highest percentage of people struggling, with 4 in 10 residents affected. Even in London, the high costs impact 1 in 4 adults.
In response to these challenges, Britons are making significant adjustments:
- 53% have cut back or delayed spending on smaller items like eating out, entertainment, subscriptions, clothing, toys, books, etc.;
- 52% have reduced household energy consumption;
- 48% have decreased their grocery spending;
- 41% have scaled back or postponed major expenditures, such as holidays, cars, and weddings;
- 26% are working longer hours, taking on overtime, or pursuing additional jobs to earn extra income.
The British also made changes on the financial side. One in four adults has been forced to dip into their savings or investments to cover daily expenses. Moreover, 44% have stopped saving or investing entirely or have reduced their savings and investments—a 4% increase compared to 2023.
The lack of investment is another critical factor contributing to the decline in purchasing power. It is estimated that 13 million UK residents hold £430 billion in cash deposits but do not invest. The reasons? Seventy-four percent say they cannot compare investment products effectively, and 43% are afraid of losing their money.
A lack of knowledge and fear are preventing many savers from taking advantage of an important opportunity: preserving or increasing their purchasing power in the long term.
Photo: https://mma.prnewswire.com/media/2586123/Tickmill.jpg
Logo: https://mma.prnewswire.com/media/2586129/Tickmill_Logo.jpg
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/according-to-tickmill-survey-3-in-10-britons-in-economic-difficulty-purchasing-power-down-41-since-2004-302337354.html
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