Au says Africa needs more than $ 3Tr to meet climate goals

The African Union (AU) has stated that Africa needs more than $ 3 trillion to meet its climate targets, warning that climate finances are no longer optional but the problem of survival for the continent.

The call came ahead of the Second African Climate Summit (ACS2) which is scheduled to be held from 8 to 10 September at Addis Ababa, Ethiopia, with the theme: “Speed up global climate solutions: financing for tough and African green development.”

The Air Force Commissioner for agriculture, rural development, blue economy and sustainable environment, Moses Vilakati, said the climate funding gap continues to damage African’s ability to build resilience, despite contributions that can be ignored to global greenhouse gas emissions.

“Africa needs more than $ 3 trillion to meet its climate goals, but only receive $ 30 billion between 2021 and 2022. We must create a conducive environment for efficiency, adequacy, and justice in climate financing,” Vilakati said.

He noted that only 18% of continental mitigation needs and only 20% of the adaptation requirements currently funded, situations that describe African countries to high climate risk due to their geography, weak adaptive capacity, and limited economic resources.

While recognizing progress since the first summit, including stronger collaboration with regional institutions and harmony in climate policies, Vilakati emphasized the urgency of building financial and technical support for African transitions.

“Africa holds the highest solar energy potential globally, with large areas receiving more than 2,000 kilowatts of hours per square meter per year,” he said, calling for a just and fair energy transition that prioritized African needs.

Referring to the ambitious purpose of the first summit for three times the capacity of renewable energy to 300 GW in 2030, he urged a deeper partnership between the government, international organizations, and private sector investors to accelerate sustainable growth in all continents.

“Climate change, and what we do about it, will determine our era, our continent, and global heritage that we leave for future generations,” Vilakati said.

He added that ACS2 would focus on instilling climate risk into development planning, promoting sustainable industries, and institutionalizing climate financial reforms, while continuing the AU’s commitment to turning the host country of the Summit to encourage continental inclusiveness.

Also speaking before the Summit, the State Minister for Ethiopia for planning and development, Seyoum Mekonnen, said the event was an opportunity for Africa to lead a global conversation about climate solutions.

“This summit is not just another event, this is the moment of Africa to lead. Africa is often described as victims of climate change, but we are also a continent of solutions,” Mekonnen said.

He stressed the importance of displaying climate actions led by Africa, while demanding a fairer and more easily accessible global climate financing mechanism.

Mekonnen highlighted Ethiopia’s steps through a green heritage initiative, which had seen more than 40 billion seedlings planted in six years, increasing national forest cover from 17.2% in 2019 to 23.6% in 2023.

“We are not only hosting the peak meeting, we are building a movement. And every movement requires a sound that strengthens, challenging, and informing,” he said.

The Summit is being held in a partnership with the African Union Commission (AUC) and is expected to encourage the African climate agenda for the future by mobilizing public and private sector stakeholders towards a green and resilient future.