Home Climate Change Over 50 leading CEO from Africa take climate action at COP27

Over 50 leading CEO from Africa take climate action at COP27

The Africa Business Leaders’ Climate Statement outlines key commitments companies can make to galvanize climate action

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Delegates at COP27 in Sharm el-Sheikh, Egypt. Photo credit: Gilbert Mwijuke
Delegates at COP27 in Sharm el-Sheikh, Egypt. Photo credit: Gilbert Mwijuke

Safaricom CEO, Peter Ndegwa joined over 50 leading CEOs from across the African continent in presenting the Africa Business Leaders’ Climate Statement at the UN Climate Change Conference (COP27) in Sharm El Sheikh outlining credible corporate commitments and actions anchored in the goals of the Paris Agreement, the Sustainable Development Goals and the UN Global Compact Ten Principles .

The CEOs are part of the Africa Business Leaders Coalition (ABLC), a CEO-led initiative emanating from the UN Global Compact Africa Strategy 2021-2023, committed to advancing sustainable growth, prosperity, and development in Africa by bringing measurable impact to its most pressing issues

Sanda Ojiambo, Assistant Secretary-General; Executive Director & CEO of the UN Global Compact speaking during the event Climate Action Now: A Critical Priority for Business Leaderssaid:

“The African business community is already changing Africa and impacting the world for the better. African companies are strengthening partnerships with critical stakeholders, especially governments, to jumpstart climate action across the continent. The Africa Business Leaders’ Climate Statement, which today has 55 signatories, brings a much-needed perspective and set of commitments to the global climate table. It reflects the strong commitment the ABLC member companies have made to driving sustainability efforts in their businesses and across their value chains and ecosystems.”

Speaking on behalf of the CEOs, Peter Ndegwa, Safaricom CEO said:

“The historic statement brings together the African private perspective on crucial topics, something that is often missing, yet quite crucial and long overdue. It also defines the overall private sector climate action narrative for Africa, tailored to the continent’s context and specific climate action and asks as seen from the African perspective.”

The Africa Business Leaders’ Climate Statement outlines key commitments companies can make to galvanize climate action through:

  • Developing robust company resilience plans to improve our adaptive capacity and build systemic resilience
  • Upholding the guiding principles of a just transition as central to all our climate actions and advocacy
  • Setting targets to drastically increase the use of renewables to contribute to the continental goal of 27%
  • Contributing to a global dialogue to advance the understanding of the ‘fair share’ principle.

The Africa Business Leaders’ Climate Statement also calls for action from the global community to: 

  • Fulfill and enhance the 100-billion-dollar goal by 2023 at the latest and ensure that at least 50% is invested in adaptation and resilience.
  • Create an enabling environment that facilitates increased access to finance and ensures that African business can leverage global markets.
  • Translate climate plans, such as Nationally Determined Contributions (NDCs) and National Adaptation Plans (NAPs), into pipelines of bankable climate projects.
  • Promote technology and knowledge exchange to make decarbonization and adaptation technologies and knowledge more accessible
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