Climate action for Africa at COP27

The document argues that climate finance for Africa is grossly insufficient, with an estimated annual shortfall of $112 billion for the 2020-2030 period. It calls for a total commitment of $1.3 trillion from rich countries to cover adaptation, mitigation, and loss and damage, while advocating for the use of natural gas as a transition fuel and the reform of the global financial architecture.

• Africa faces a significant climate finance deficit for the 2020-2030 period, with total annual needs estimated at $142 billion ($33.5b for adaptation, $72b for mitigation, and $36.5b for loss and damage) compared to current annual flows of only $30 billion. This results in an annual shortfall of $112 billion and a total decade-long finance gap of $1.1 trillion.
• To address the finance gap, the document recommends that rich countries commit $1.3 trillion for Africa between 2020 and 2030 and that the global financial architecture be reformed using innovative instruments like green bonds, green loans, debt-for-climate swaps, and the reallocation of unused Special Drawing Rights.
• The brief proposes immediate actions including technical assistance to streamline fund access, capacity building for low-carbon transitions, and the establishment of two or three renewable energy manufacturing centers in Africa for solar panels and batteries. It also argues that natural gas should be included as a transition fuel in Africa's path to net zero.

APA

Moors, R. (2022). Climate action for Africa at COP27. African Center for Economic Transformation. https://acetforafrica.org/research-and-analysis/insights-ideas/policy-briefs/climate-action-for-africa-at-cop27/

Chicago

Moors, Rik. Climate action for Africa at COP27. African Center for Economic Transformation, 2022. https://acetforafrica.org/research-and-analysis/insights-ideas/policy-briefs/climate-action-for-africa-at-cop27/.

Wikipedia

{{cite report |last1=Moors |first1=Rik |title=Climate action for Africa at COP27 |publisher=African Center for Economic Transformation |date=3 November 2022 |url=https://acetforafrica.org/research-and-analysis/insights-ideas/policy-briefs/climate-action-for-africa-at-cop27/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{moors2022climate, author = {Moors, Rik}, title = {{Climate action for Africa at COP27}}, institution = {African Center for Economic Transformation}, year = {2022}, month = nov, url = {https://acetforafrica.org/research-and-analysis/insights-ideas/policy-briefs/climate-action-for-africa-at-cop27/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }