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Financing Africa’s Low Carbon Green Economy Transition: Africa’s Climate Finance Needs

Financing Africa’s Low Carbon Green Economy Transition: Africa’s Climate Finance Needs

Year Published

2024

Contributing Organizations

Cambridge Institute for Sustainability Leadership (CISL)

Type of Resource

Research/Insights Report

Languages

English

Relevant Topics

Core Topic
Transition Finance
Topic 2
Carbon Markets & Carbon Finance

Target Audience

Governments & Policymakers
MDBs/DFIs
Philanthropies
Advisors & Consultants
Banks

Relevant Geography

Africa
Europe
North America
Financing Africa’s Low Carbon Green Economy Transition: Africa’s Climate Finance Needs

Resource Description

This resource assesses Africa’s climate finance requirements to 2030, using NDCs and financial data to outline funding gaps, sectoral priorities, and options for mobilizing domestic and international finance.

Why This Matters

Africa emits only 9% of global GHGs but faces high climate risks. Scaling concessional finance, project pipelines, and domestic revenue tools like carbon pricing is essential to achieve NDC goals and enable sustainable growth.

Key Insights

  • Africa needs ~US$25 trillion by 2030, with 80% for mitigation and US$418 billion for adaptation
  • Current flows (~US$30 billion annually) cover only a fraction of the US$200–250 billion required each year
  • South Africa, Egypt, and Nigeria account for half of total needs
  • LULUCF accounts for nearly 1 GtCO2e of planned cuts but offers few development benefits or private finance opportunities
  • Renewable energy (271 MtCO2e) is cost-effective and attractive to investors but requires stronger grid and technical capacity

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