Lagos – In a passionate call at COP29, President Paul Kagame and President Denis Sassou Nguesso joined other African leaders in demanding that the continent’s natural capital be incorporated into GDP measurements. President Kagame emphasized, “Africa’s ecosystems provide immense value globally, and it’s time we receive fair compensation rather than symbolic acknowledgment.”
The summit highlighted the financial impact of Africa’s undervalued carbon resources, with AfDB’s Dr. Adesina illustrating how low-cost carbon credits limit African countries’ economic growth. “Africa may hold vast natural resources, but without equitable valuation, we remain green-rich and cash-poor,” he explained, calling this imbalance a “lose-lose proposition.”
Leaders attending the summit, including President Mnangagwa of Zimbabwe, stressed the need for a global re-evaluation of GDP to reflect Africa’s environmental contributions. The African Development Bank committed to supporting a new “Green GDP” framework, with African nations poised to bring this proposal forward to the African Union in 2025.
