Kenya and Colombia are set to benefit from a $1 million (Sh153 million) grant announced by Beyond Oil and Gas Alliance.
The amount announced at the ongoing climate meeting, COP28, will help the two countries plan for a just, managed, and orderly transition from oil and gas dependency.
This is the beginning of the implementation of the Boga fund, first announced at COP27 as a $10 million (Sh1.53 billion) seed fund led by Sequoia Climate Foundation and other philanthropies.
The fund recently received additional support from the Robertson Foundation.
It was not however clear how the two countries will share the amount.
The fund is designed to provide rapid technical assistance to Global South governments that want to develop their vision of a beyond-oil and gas economy and catalyse bilateral and multilateral funding in the process.
It addresses a significant operational barrier for producer countries in the Global South seeking to transition away from oil and gas.
The distribution of the first amount by the Boga fund is a major milestone in action to begin the phase-out of fossil fuels and to support governments to transform their economies.
Boga is an international alliance of governments working together to facilitate the phase-out of oil and gas production.
The alliance has also announced a significant growth of its membership as global momentum grows towards addressing the phase-out of all fossil fuels.
Fossil fuel phase-out is the issue at the heart of negotiations at this year’s COP28 that has gathered world leaders.
The Alliance today welcomes three new members, including Spain, Kenya, and Samoa.
Since its launch at COP26 in 2021, Boga’s size has more than doubled.
The Alliance has now grown to 24 members and is working with partners at COP28 to secure an agreement to deliver a just, managed phase-out of all fossil fuels.
Ali Mohamed, climate envoy for Kenya, said the country is pleased to join the alliance, which aligns with Kenya’s green development strategy and ambition.
He said this will help pursue a development pathway that prioritises the planet and the heritage of future generations.
“We welcome the opportunity to work collaboratively with like-minded partner governments to tap into our immense renewable energy resources, to drive green industrialisation to sustainably transform our economies and the lives of our people.”
“We will not achieve the goals of the Paris Agreement without phasing out oil and gas. Science confirms this time and again,” Minister for Development Cooperation and Global Climate Policy for Denmark Dan Jorgensen said.
“Therefore, it is an important step in the right direction that Spain, Kenya, and Samoa joined Boga today. Additionally, welcoming Quebec as our new co-chair further strengthens our collective efforts towards a fossil-free future.”
“With new members from different parts of the world, including national and subnational leaders, Boga shows that the desire for a sustainable future—without dependence on fossil fuel production—is uniting governments,” he said.
Source: The Star
