RES4Africa Foundation, in collaboration with Nedbank CIB and the European Investment Bank, is set to host a pivotal Climate Finance Forum in Cape Town on March 8, 2024. This forum will serve as a platform for high-level representatives from various climate finance actors in South Africa and Sub-Saharan Africa to convene and discuss strategies for scaling up climate finance across the continent. With sessions covering topics such as Financing Energy Transitions, Approaches to Climate Finance, and Financing Innovation in Climate Investments, the forum aims to address the pressing need for increased investment in renewable energy infrastructure and climate adaptation projects in Africa.
Africa faces unique challenges in the realm of climate change, despite contributing minimally to global emissions. The continent’s vulnerability to climate impacts underscores the urgency of mobilizing resources to support its sustainable development goals. The event emphasizes the importance of international support, calling for ambitious replenishments of funds such as the African Development Fund and concessional climate funds. Additionally, it highlights the role of private finance in driving investment but underscores the necessity for risk mitigation by development finance institutions. Overall, the forum seeks to galvanize action and foster collaboration among stakeholders to address Africa’s climate finance needs and ensure a sustainable future for the continent.
Africa requires substantial investments, estimated at $200 billion per year by 2025 and close to $400 billion per year by 2030, to address its development and climate challenges.
For further information by clicking on the link below:RES4Africa.
