Evercity News

Evercity CEO Alexey Shadrin shared his impressions from the African Climate Week

Our co-founder and CEO Alexey Shadrin shared his impressions from the African Climate Week highlighting some of they key pillars that we are working on to make green finance more accesible for the Global South.

"While everyone is gathering in NY, let me share some findings from Kenya. It was my first trip to Sub-Saharan Africa in 20 years, and I was really impressed by Nairobi, a vibrant and diverse city!

The African Climate Summit was full of energy and activity, with each day ending in a lively dance near the main exit. The summit led to an agreement on Green Growth and Climate Finance, and a call to action for African Union member countries to make sure Africa's voice is heard globally.

My findings:

  • Africa offers unique opportunities to help combat Climate Change. This was recognized by countries in the Gulf Cooperation Council (GCC), who had a strong presence at the summit.
  • We need a significant influx of both local and international funding that supports environmentally friendly projects in Africa. Currently, there are challenges in accessing Green Finance due to high interest rates, a lack of local infrastructure, and knowledge gaps.
  • By developing local digital infrastructure, methodologies, and standards using open-source technologies, Africa can become a self-reliant player in the green finance market quickly and affordably.
  • However, it's crucial to also focus on risk management, insurance and financing innovations as well as educating and empowering local participants of the green finance market, such as auditors, project developers, and MRV providers.

Evercity is already working on the above-mentioned points!"