Climate action for Africa at COP27

This policy brief by the African Center for Economic Transformation outlines the significant climate finance gap facing Africa and proposes six priorities for the continent at COP27, including immediate technical assistance and long-term financial commitments.

• Africa faces a severe climate finance deficit. For the 2020-2030 period, annual funding needs are estimated at $142 billion—comprising $33.5 billion for adaptation, $72 billion for mitigation, and $36.5 billion for loss and damage—but current annual flows are only $30 billion. This creates an annual shortfall of $112 billion, totaling a climate finance gap of $1.1 trillion for the decade.
• The document proposes six priorities for COP27. Immediate actions for multilateral agencies and development finance institutions include providing technical assistance to improve fund access, enhancing capacity building and technology transfers for low-carbon transitions, and investing in two or three renewable energy manufacturing centers within Africa for solar panels and batteries.
• Long-term goals for Africa include a commitment from rich countries to provide $1.3 trillion in funding for 2020-2030, the inclusion of natural gas as a transition fuel toward net zero with associated funding, and a reform of the global financial architecture. Suggested financial reforms include the use of green bonds, green loans, debt-for-climate swaps, climate-linked debt, and the reallocation of unused Special Drawing Rights.

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} }