{"id":477612,"date":"2023-07-21T09:42:49","date_gmt":"2023-07-21T09:42:49","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=477612"},"modified":"2023-07-21T09:42:58","modified_gmt":"2023-07-21T09:42:58","slug":"statement-by-eca-acting-executive-secretary-antonio-pedro-at-the-2023-high-level-political-forum-on-sustainable-development","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2023\/07\/21\/statement-by-eca-acting-executive-secretary-antonio-pedro-at-the-2023-high-level-political-forum-on-sustainable-development\/","title":{"rendered":"Statement by ECA Acting Executive Secretary Antonio Pedro at the 2023 High-level Political Forum on Sustainable Development"},"content":{"rendered":"
<\/div>\n

Statement by ECA Acting Executive Secretary Antonio Pedro<\/strong><\/p>\n

Session: General Debate<\/strong><\/p>\n

Theme: \u201cBuilding momentum towards the 2023 SDG Summit: Transformation for accelerating implementation of the SDGs\u201d.<\/strong><\/p>\n

Venue: Trusteeship Council Chamber.<\/strong><\/p>\n

\u00a0<\/p>\n

[Chair]<\/p>\n

Excellencies,<\/p>\n

Distinguished delegates,<\/p>\n

Ladies and gentlemen,<\/p>\n

It is no secret that we are currently off-track from delivering on the promises of the 2030 Agenda, especially on the African continent.<\/p>\n

Nevertheless, rescuing the SDGs for Africa is possible.<\/p>\n

We will need to take decisive action to capitalize on the opportunities before us towards achieving our collective goals.<\/p>\n

For Africa, I see five drivers that must be leveraged:<\/p>\n

First, fast-tracking the implementation of the African Continental Free Trade Area agreement, which will serve as a catalyst to enhance productive capacities, achieve sustainable industrialization and economic diversification, a key factor to break Africa\u2019s excessive dependence on the export of raw materials and reduce its vulnerabilities to external shocks. COVID-19 taught us a lesson on why Afroshoring must be a priority.<\/p>\n

Second, accelerating agriculture and food systems transformation with the Common African Agro-Parks Programme (CAAPs) being a key entry point.<\/p>\n

Third, strengthening Africa\u2019s mineral security to meet people\u2019s basic needs and accelerate the structural transformation of local economies by moving beyond resource extractivism to value addition, the DRC-Zambia transboundary Special Economic Zone for Batteries and Electric Vehicles being a case in point.<\/p>\n

Fourth, making the continent\u2019s natural capital an engine for growth and sustainable development by developing a robust Carbon Credit Market to potentially generate US$82 billion a year if we succeed to sell a ton of CO2 at US$120.<\/p>\n

Fifth, fostering climate action and sustainable energy transitions by harnessing Africa\u2019s huge solar, hydrogen, geothermal, hydropower and wind energy potential to promote the green and blue economy.<\/p>\n

Human capital development, digital transformation, and science, technology and innovation, are the foundations for Africa\u2019s sustainable development, beyond GDP metrics.<\/p>\n

To achieve transformational change, we must move our focus away from pilots and projects, towards integrated programmes with greater scale, ambition and depth.<\/p>\n

We must also heed the Secretary-General\u2019s call for an ambitious reform of the global financial architecture to make it fit for purpose, and for a SDG stimulus of $500 bn, for increased liquidity to accelerate progress towards the SDGs.<\/p>\n

While MDBs are already contributing significantly to de-risking investments on the continent, the need remains to improve multilateral debt restructuring frameworks and unlock climate financing.<\/p>\n

Central to the domestic reform agenda is the need for resource mobilization through expanding the tax net, deepening capital markets and curbing illicit financial flows.<\/p>\n

Creating favourable conditions for domestic investment as well as foreign direct investments will also be critical for engaging private sector and potentiating the emergence of competitive small and medium-scale enterprises. Effective implementation of smart local content policies can deliver on this.<\/p>\n

ECA reaffirms its commitment to supporting its member States and working collaboratively across the system and with all stakeholders to strengthen Africa\u2019s agency and realise the Africa We Want.<\/p>\n

I thank you for giving me the floor.<\/p>\n

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