Take advantage of the circular economy – From WADA to Financial Institutions

General News on Friday, June 14, 2019

Source: clbadfmonline.com

2019-06-14

Mr. Mohammed Adjei-Sowah, Executive Chairman of the Accra Metropolitan Assembly (AMA), challenged financial institutions and private sector actors to take advantage of the tremendous economic opportunities offered by the region. circular economy – an economic system aimed at most resources.

According to him, this would greatly contribute to mitigating the effects of climate change.

Mr. Adjei-Sowah, who is also vice-president of C40 Cities, spoke at a forum on financing sustainable African cities in Johannesburg, South Africa, organized by the FSCI Initiative (C40 Cities Financing). Sustainable Cities) and supported by the Citi Foundation.

The Forum aims to highlight the immense investment opportunity in Africa, pave the way for a more sustainable future and provide a platform for showcasing the potential of projects and opportunities in African cities to fight against climate change.

"The problems of climate change are development issues, we need to make sure that projects and developments are sustainable, and we need to find solutions to finance projects that bring innovations in climate change …" great economic incentive in the circular economy and financial institutions and private sector actors must rise to the challenge, "he said.

"We are not short of ideas, we lack capital, our main problem at the moment is to raise funds for sustainable development," said Adjei-Sowah, board member of the World Mayor's Convention (GCoM).

The mayor, recently named in the "Politics of the 201 Most Influential People in the World on Climate Change 2019", said in Accra, the authorities are involving the private sector in the 50% reduction of landfill waste.

He also stressed that it is important that cities pay more attention to the issue of climate change.

"Sustainable problems are development problems," said the mayor, adding, "Today, climate change is not an abstract problem, but a development problem in Africa and around the world." .

"The months of May, June and July are rainy seasons in Accra, with risks of flooding.It is important for us to explain to the inhabitants the impact of our local actions on our environment ", did he declare.

The executive mayor of Johannesburg, Herman Mashaba, who also spoke at the forum, stressed the need for developing cities to focus on sustainability as they face the climate change clash, even though they are not the biggest contributors.

He said developing cities were faced with the challenge of expanding economic growth, providing water, electricity and other resources, and maintaining the economy. dissent when these needs were not available as soon as possible.

As a result, climate change and sustainability issues are not as high a priority for developing cities as they should be, he said.

"It is essential to put sustainability at the center of the daily work of cities," he said.

His Excellency Ambbadador Bene Lofongo M'poko, Dean of the Diplomatic Corps in South Africa; Jerrod Moodley of Rand Merchant Bank and Val Smith, Managing Director and Global Head of Sustainable Development, Citi.