Landscape of Climate Finance in Africa 2024

Year Published

2024

Contributing Organizations

Climate Policy Initiative (CPI)

Type of Resource

Research/Insights Report

Tool

Languages

English

Relevant Topics

Core Topic

Transition Finance

Target Audience

All

Relevant Geography

Africa

Resource Description

This report reviews climate finance in Africa during 2020–2021, examining sources, sectors, instruments, and regional distribution. It highlights the significant shortfall between current flows and what is needed to meet climate and development goals.

Why This Matters

Africa faces one of the world’s largest climate finance gaps. Closing it—particularly for adaptation—is critical for resilience, sustainable growth, and alignment with global climate goals.

Key Insights

Adaptation is a major focus in Africa compared to other regions, yet funding still falls far short of needs
Energy, agriculture, water, and waste dominate climate-related investments
Public finance from governments, DFIs, and multilateral funds drives the majority of flows, while private investment remains limited
Debt and grants are the main financing instruments used
Regional distribution is uneven, with Southern and East Africa attracting most funding

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