Landscape of climate finance in Africa

This report provides a first-of its kind assessment of climate finance flowing into and within African countries. This report is a crucial one and comes at a time when it is urgently needed, and to inform the discussions and negotiations at COP27 in Egypt. It provides a baseline to understand climate finance flows in Africa which need to be tracked, in order to measure progress of each country and, in combination, the continent, towards meeting their Nationally Determined Contribution (NDCs) under the Paris Agreement. Importantly, a report such allows to measure whether the commitments of developed countries to provide finance to developing countries, is indeed being delivered. According to the report, African countries collectively received only 12-15% of their required climate response investments in 2019 and 2020. Climate finance must be mobilised at greater speed and scaled significantly if the continent as a whole is to achieve its mitigation outcomes and adapt to climate change. Incremental progress, the existing status quo and business-as-usual are no longer appropriate as developing countries pursue their socio-economic development paths to lower carbon economies and climate resilient societies.