Landscape of Climate Finance in Africa

Africa requires USD 277 billion annually to meet its 2030 climate goals, yet annual flows stand at only USD 30 billion. While the region shows a better balance between adaptation and mitigation than other global regions, private sector contribution remains low at 14%. The report recommends increasing concessional finance for hard-to-abate sectors, improving data tracking through 'climate tagging', and enhancing sub-national investment capabilities to bridge the financing gap.

• There is a significant gap between Africa's climate finance needs and actual flows; the continent requires USD 277 billion annually to implement its NDCs and meet 2030 goals, but only receives USD 30 billion per year.
• Climate investment gaps vary by sub-region: Southern Africa has the largest absolute gap due to South Africa's annual need of USD 107 billion, while Central and East Africa have the highest gaps relative to GDP at 26% and 23% respectively.
• Private sector contribution to climate finance in Africa is only 14% (USD 4.2 billion), which is substantially lower than in South Asia (37%), East Asia and Pacific (39%), and Latin America & Caribbean (49%).
• Africa allocates a higher proportion of climate finance to adaptation (39%) compared to other global regions where adaptation represents only 7%–16% of total flows, though funding for both adaptation and mitigation must still increase by 6 and 13 times, respectively.
• Investment in renewable energy in Africa is USD 9.4 billion annually, which is significantly lower than the USD 29 billion per year invested in fossil fuels between 2016–2021 and the USD 37 billion per year in fossil fuel government subsidies in 2019/2020.

APA

Climate Policy Initiative (2022). Landscape of Climate Finance in Africa. https://www.climatepolicyinitiative.org/publication/landscape-of-climate-finance-in-africa/

Chicago

Climate Policy Initiative. Landscape of Climate Finance in Africa. 2022. https://www.climatepolicyinitiative.org/publication/landscape-of-climate-finance-in-africa/.

Wikipedia

{{cite report |author=Climate Policy Initiative |title=Landscape of Climate Finance in Africa |date=21 September 2022 |url=https://www.climatepolicyinitiative.org/publication/landscape-of-climate-finance-in-africa/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatepolicyinitiative2022landscape, author = {{Climate Policy Initiative}}, title = {{Landscape of Climate Finance in Africa}}, institution = {Climate Policy Initiative}, year = {2022}, month = sep, url = {https://www.climatepolicyinitiative.org/publication/landscape-of-climate-finance-in-africa/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }