Landscape of Climate Finance in Africa 2024

Africa’s climate finance landscape must shift from inefficient, insufficient, and unfair to efficient, adequate, and just. We can no longer tolerate a narrative that perpetuates inequality. Informed by the reality on the ground, we must act to build a financial landscape that truly reflects our commitments to fairness and sustainability. The Landscape of Climate Finance in Africa 2024 report reveals a stark reality: Despite a 48% rise in climate finance—from USD 29.5 billion in 2019/20 to USD 43.7 billion in 2021/22—the funding gap is glaring. To meet the climate finance needed for the implementation of countries’ Nationally Determined Contributions, flows must increase at least four times a year, every year, annually until 2030. This is not just about the cost of inaction that rises for each year that we fail to meet these needs; it is about the stark inequities in finance distribution across countries and the ongoing challenges in mobilizing private and domestic capital. The evidence is undeniable and the imperative for action has never been more urgent.