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Thursday, August 20, 2015

Djibouti to invest nearly US$4 billion to curb greenhouse gas emissions

The pledge was made through Djibouti's Intended Nationally Determined Contribution.


(Medeshi)- The Republic of Djibouti on the Horn of Africa has become the latest country to submit its carbon reduction pledge to the UN in advance of December’s Climate Summit in Paris.

At the weekend, Djibouti formally committed itself to curb greenhouse gas emissions by 40% and the Government said its target could rise to 60% if it received additional funding from the international community. The pledge was made through Djibouti's Intended Nationally Determined Contribution.

All countries will be making this by October to detail how they intend to cut carbon emissions and enhance climate resilience under a new international agreement. The Djibouti Government said it would invest more than US$3.8bn in collaboration with the international community to achieve this goal. It is already developing new "National Strategies" for the green economy, biodiversity and climate change to help meet its aims.
Another US$1.6bn in funding from such sources as the recently launched Green Climate Fund would enable it to reduce emissions by 60% by 2030. The INDC predicts that a 2ºC climate change temperature rise would cost Djibouti more than US$5bn between 2010 and 2060; a 4ºC to 5ºC would expand this to US$9bl
-MoFA.