With only a month remaining until the Second Africa Climate Summit (ACS2), the African Union has emphasized the urgent need for global partners to help close Africa's climate finance gap, revealing that the continent requires $3 trillion to achieve its climate goals
Commissioner for Agriculture, Rural Development, Blue Economy and Sustainable Environment at the African Union Commission, Moses Vilakati, made the call during a virtual media briefing on the forthcoming summit scheduled for Addis Ababa, Ethiopia, News.Az reports citing foreign media.
Themed “Accelerating Global Climate Solutions and Financing for Africa’s Resilient and Green Development,” ACS2 aims to shift Africa from dialogue to action by turning climate pledges into practical, scalable solutions.
Despite contributing the least to global greenhouse gas emissions, Vilakati said Africa remains the most vulnerable to climate change due to its geography, socioeconomic realities, and weak adaptive capacity.
He noted that only $30 billion was received between 2021 and 2022, a fraction of the $3 trillion required, stressing the urgent need for international financing partnerships.
He said: “Recognising that Africa leads the world in solar energy potential, with vast areas receiving over 2,000 kWh/m² annually, the ACS2 aims to accelerate climate solutions and financing for Africa’s green development, with a strong emphasis on renewable energy as a transformative force.
“Africa faces a significant climate finance gap. Only 18 per cent of annual mitigation needs are funded, just 20 per cent of adaptation needs are covered, and only 18 per cent of total climate finance is sourced from private sources—far below global averages.
“While Africa needs $3 trillion for climate goals; only $30 billion was received between 2021–2022. Subsequently, Africa’s climate finance landscape must enable a conducive environment for efficiency, adequacy, and justice. Bridging the climate finance gap is an existential necessity to ensure Africa’s resilience and green development.
He added that the summit would also seek to institutionalise inclusive climate governance, mainstream climate risks in national development plans, and push for the continent’s rightful place in global green transitions.
The summit will be hosted by Ethiopia in collaboration with the African Union and other international partners.
“Much has happened since ACS-1. The African Union Commission has, among other goals, been able to strengthen climate services and applications through partnerships with regional climate centres, the African Climate Policy Centre (ACPC), and the Global Framework for Climate Services.
“These initiatives help to enhance early warning systems, seasonal forecasts, and climate data tailored to agriculture, health, and water. But the continent still has a long way to go in addressing the challenges arising from adverse climate conditions”, Vilakati stated.
News.Az
