DAR ES SALAAM: MINISTER of State in the Vice-President’s Office (Union and Environment), Dr Suleiman Jafo, has outlined benefits earned from recently concluded COP28, including possible funds, technology and expertise to combat the effects of climate change.
He told reporters in Dar es Salaam on Monday that Tanzania expects investments from 56 foreign firms which entered into agreements with local companies.
“Among the benefits of Tanzania’s participation in the COP28 conference is the agreements entered into by Tanzanian companies with more than 56 foreign firms coming to invest in Tanzania,” noted Minister Jafo.
He explained that so far, 35 Tanzanian companies have been registered to invest in the area of solid and liquid waste management.
“The efforts in environmental control and management are ongoing. So far, we have registered more than 35 companies as part of sustainable efforts to control environmental damage and global warming,” explained Jafo.
He also emphasised that the projects were showcased by Tanzania during COP28, such as the Standard Gauge Railway (SGR) and Julius Nyerere Hydropower Project (JNHPP).
The use of clean energy intended to be generated in the electricity project and the use of electricity in the SGR will contribute to reducing carbon emissions.
He emphasised that President Samia’s efforts in promoting the country internationally have borne fruits, with various companies and nations expressing eagerness to meet with the President and invest in the country.
He praised President Samia for effectively utilising the opportunity to address the conference, outlining priorities such as the implementation of the $100 billion pledge to assist developing countries facing climate change challenges and setting guidelines for the global goal of resilience to the effects of climate change.
While at COP28, President Samia engaged with prominent businesspeople and investors, including media owner Michael Bloomberg, who pledged financial support for Tanzania’s tea crops.
Additionally, he said he held discussions with the Head of the Adaptation Fund, Mikko Ollikainen who committed to support climate adaptation projects under the fund in Tanzania.
The minister said President Samia, during side events, emphasised the importance of having joint energy projects for countries in southern Africa.
He emphasised that the African Development Bank committed to overseeing the availability of funds for this initiative, a project championed by President Samia.
He also listed 11 agreements reached at the conference, including the assessment of the implementation of the Paris Agreement to control the increase in temperature not to exceed 1.5 Centigrade, enhancing the capabilities of member countries to address environmental damage and climate change effects.