KEY POINTS
- Africa received just $30 billion of its $3 trillion climate finance need.
- Only 18 percent of mitigation and 20 percent of adaptation is funded.
- AU says climate finance is a survival issue, not charity.
Africa requires over $3 trillion to meet its climate objectives, the African Union said ahead of a key summit next month, warning that climate finance has become a “matter of survival” for the continent.
AU Commissioner for Agriculture, Rural Development, Blue Economy and Sustainable Environment, Moses Vilakati, said Africa faces a widening funding gap as it grapples with the consequences of a crisis it did little to cause.
Africa climate finance 2024 far below target
Ahead of the second Africa Climate Summit (ACS2), scheduled for September 8–10 in Addis Ababa, Moses Vilakati said Africa received only $30 billion in climate finance between 2021 and 2022 — far short of what the continent needs.
He also added that funders have covered just 18 percent of Africa’s mitigation needs and only 20 percent of its adaptation efforts, highlighting the urgent financing gap facing the region. “We must create a conducive environment for efficiency, adequacy, and justice in climate financing.”
Despite contributing the least to global emissions, the continent bears a disproportionate burden due to its geography, economic constraints, and low adaptive capacity.
Vilakati highlighted progress since the first ACS, particularly in regional coordination and energy goals. “Africa holds the highest solar potential globally,” he said, reaffirming a target to triple renewable energy capacity to 300 GW by 2030.
AU pushes for fairer global climate system
The Addis summit, themed “Accelerating Global Climate Solutions: Financing for Africa’s Resilient and Green Development”, aims to push Africa-led policies and also reform international financing frameworks.
“It’s time Africa is not only seen as a victim but also a source of climate solutions,” said Ethiopia’s State Minister for Planning and Development, Seyoum Mekonnen. He described the gathering as “Africa’s COP.”
Ethiopia will also showcase gains under its Green Legacy Initiative, which has planted over 40 billion seedlings and raised forest cover from 17.2 percent to 23.6 percent in four years.
“This summit is not just another event—it is Africa’s moment to lead,” Mekonnen added. “Moreover we are not just hosting a summit, we are building a movement.”
The African Union Commission (AUC) will also co-host the summit as part of its rotating model to ensure broader participation across member states.
