Equity Group amplified Africa’s private sector climate financing and sustainability priorities at the UN Climate Change Conference of Parties (COP29) in Baku, Azerbaijan.
Along with industry leaders, policymakers, development financiers, private sector business leaders and civil society, Equity reiterated its commitment to climate financing and facilitating the clean energy transition in Kenya and across Africa.
Equity Group Director for Sustainability, Oscar Njuguna, engaged in a high-level panel discussion together with representatives from the United Nations Development Programme (UNDP), Italian Ministry for Environment and Energy Security, Inter-American Development Bank, and the Kenyan Ministry of Energy & Petroleum.
The panel explored Africa’s immense renewable energy potential and the pivotal role of financing in driving resilient and sustainable development.
“At Equity, we recognize that achieving Africa’s climate ambitions requires bold, collaborative action. We’re proud to have led the private sector in crafting the Private Sector Declaration, supporting the Nairobi Declaration on Climate Action as Africa’s unified stance in the global climate process last year at COP28 and beyond,” said Njuguna, as he joined global leaders and experts to advance the conversation on scaling up clean energy financing and sustainable growth across Africa.
“Understanding its mandate as a trade and development partner for Africa and the diaspora, Equity will continue advocating for climate financing as well as policies and investments to accelerate Africa’s clean energy transition.”
Equity committed to progress discussions that build upon amplifying the African climate narrative, supporting just energy transition for Africa, mobilizing climate finance as well as aligning trade with climate goals.
Further, as the global Co-Chair of UNDP’s Financial Centers for Sustainability, Njuguna also participated in the launch of the Partnership for Action on Climate Transition (PACT) during Finance Day at COP29,aimed at mobilizing partnerships needed to empower institutions with credible transition strategies aligned with Nationally Determined Contributions (NDCs).
Equity’s representatives said the Group’s support for sustainability is through funding of projects and initiatives, aimed at promoting climate change mitigation and adaptation and creating community resilience.
Equity also engaged in meetings, side-events and panels, focusing on solutions for Africa, with the officials from the bank amplifying the message from Africa’s private sector, whilst committing support for the global sustainability agenda.
During those meetings, Equity representatives stressed that across the markets Equity operates in, the institution is committed to leveraging green innovative solutions—including climate finance, carbon markets and circularity—to meet Africa’s climate needs.
“At Equity, we believe that sustainable development, bolstered by partnerships and effective financing, is the path forward. We continue to call on global partners to increase the levels of climate finance available to support Africa’s adaptation and resilience priorities,” said Njuguna.
He added that Equity remains dedicated to driving impactful change across the continent, ensuring that African communities thrive.
The delegation from Africa’s private sector, led by officials from Equity, emphasized the role of the African Continental Free Trade Area (AfCFTA) in fostering sustainable growth and regional integration.Equity’s support for the global sustainability agenda and fight against climate change is very evident, with the International Finance Corporation (IFC), a member of the World Bank Group, awarding it last year for having the highest number of transactions for climate-related financing globally.
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