THE PARIS AGREEMENT PLATFORM
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Rwanda’s path to a just and sustainable future: âä×ÞáÞèÞãÜěãÖãØÚÛäç climate action
As well as slashing green- house emissions and advancing climate resilience, Rwanda is looking to accelerate economic growth.
R wanda aspires to become a middle-income country by 2035 and a high-income coun- try by 2050. Even with this vision associated with accel- erated economic growth, Rwanda still recognises and has showcased its com- mitment to climate action through ambitious targets and its revised Green Growth and Climate Resilience Strat- egy. The revised strategy has four thematic areas that consolidate eight programmes of action including one on climate resilient energy networks, green industry and private sector participation. The country’s updated nationally determined contribution, submitted in 2020, underscores this dedication, with a target of cutting greenhouse gas emissions by 38% by 2030 compared with a business-as-usual scenario. Rwanda’s climate strat- egy includes both unconditional measures, accounting for 16% of the reduction, and conditional measures, which depend on external financing and make up the remaining 22%. Achieving these ambitous sustain- able development pathways requires significant financial resources, how- ever. Securing the necessary climate finance remains a key challenge, as finance is often seen as the engine driving progress. Yet not all financing leads to sustainable outcomes. That is why financing a just transition as a tool has come at the right moment
to support the greening of the econ- omy in a way that is fair and inclusive. Rwanda is prioritising the creation of decent work opportunities, ensuring that no one is left behind in this green transformation. The financial needs of Rwanda’s updated NDC Rwanda’s updated NDC has a projected cost of $11 billion through 2030. Of this total, 40% is expected to be mobilised internally, and the remaining 60% will require external support. The pro- jected costs are calculated based on sectoral emissions from the green- house gas inventory, focusing on the sectors that emit the most and those that require greater focus on climate resilience. The total budget is divided between mitigation and adaptation measures. Mitigation accounts for $5.7 billion, with 26% of this allocated to soil and water conservation efforts. Adaptation measures total $5.3 billion, with the agriculture sector receiving the largest share of 55%, as it plays a critical role in enhancing food security and resilience against climate shocks. Building a strong climate finance network To address the financing gap, Rwanda has taken significant steps to streng- then its climate finance framework by establishing the Rwanda Green Fund as a public institution responsible for
Juliet Kabera , director general, Rwanda Environment Management Authority
TO ADDRESS THE ÁÄɼɾÄÉÂÂ¼Ë RWANDA HAS TAKEN SIGNIFICANT STEPS TO STRENGTHEN ITS CLIMATE FINANCE FRAMEWORK BY ESTABLISHING THE RWANDA GREEN FUND AS A PUBLIC INSTITUTION RESPONSIBLE FOR MOBILISING AND EFFECTIVELY UTILISING CLIMATE FINANCE.
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Financing a Just Transition
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