Economy

EU injects €194 million in Zambia’s ‘Green Transition’ agenda

0

The European Union (EU) has allocated €194 million to “Green partnerships for the sustainable recovery, growth and decent jobs” in its partnership with Zambia for the period from 2021 to 2024, officials say.

EU Ambassador to Zambia and the Common Market for Eastern and Southern Africa (COMESA), Karolina Stasiak, said that this represented approximately 65 percent of its current country budget portfolio.

Stasiak said this in Lusaka at a Zambian media special networking event on Thursday evening, dedicated to climate change and climate awareness ahead of COP28.

She emphasized that the EU Zambia Green Partnership was important as it covers a wide variety of programmes and activities.

“The exercise promotes greener production and consumption models, sustainable food systems, investments in green and digital economy, including circular economy, for the creation of better and decent jobs,” Stasiak noted.

The EU Ambassador said with its Member States and the European Investment Bank, the EU stands ready to support partner countries in their green transition.

She stated that the EU would work with other countries to accelerate global action on energy efficiency improvement rates and renewable energy installed
capacity.

“We support the global phase out of unabated fossil fuels and the phase out of fossil fuel subsides which do not address energy poverty or just transition,” Stasiak said.

She pointed out that this would include the usage of emission abatement technologies in line wth Intergovernmental Panel on Climate Change (IPCC) standards in hard-to-abate sectors,” Stasiak said.

Stasiak indicated that the EU would support efforts regarding the Development of National Adaptation Plans with targets, indicators and progress on the implementation of the loss and damage funding arrangements.

Read More: COMESA, European Union sign financing agreements worth €48.2 million

The EU Ambassador also underlined that the collaboration comes in addition to climate awareness support which is equally crucial to get Zambians on board of the Green transition.

“Climate awareness is part and parcel of Climate Action. Every one has a role to play, government and civil society, rural and urban communities, public and private sector, traditional leaders, civil society, the youth, and of course the media sector which plays this crucial role,” Stasiak.

She reaffirmed that the EU would deliver on its 2030 target to reduce its net greenhouse gas emissions by at least 55 percent by 2030 compared to 1990 levels and would become climate-neutral by 2050.

Stasiak further expressed happiness that President Hakainde Hichilema would attend two EU events in Dubai during the Conference of Parties (COP) 28 on Climate Change.

WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.

Bank of Zambia dumps $68 million into foreign exchange market to shore up falling Kwacha

Previous article

Minister Mwiimbu cautions against destroying public properties, illegal roadblocks by police

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Economy