Our Africa, Our Thoughts
A selection of blogs from the African Development Bank Group
How concessional climate finance can unleash the potential of the private sector to fight deforestation and forest degradation in Africa
Often over the past few years, I’ve come across fellow colleagues working as investment officers who view concessional climate finance as a pure co-financing instrument that can quickly and effectively cover a funding gap in any given project. They fail to understand that if structured in such a simple way, the full potential of concessionality to drive private investment in under-invested sectors will not be met.
The African subcontinent has experienced rapid economic growth since 2000. African Development Bank (AfDB) Group demographic projections indicate that Africa’s population will increase from 1 billion in 2010 to 1.6 billion in 2030. The continent’s urban population is expected to increase from 40% of the total population to over 50%, increasing the already high unmet demand for water. The majority of both increases will occur in the poorest, most crowded areas
Securing a smooth transition to low-carbon and climate-smart development will require effective global partnerships that mobilize funding and track its impact around the world. That is where the world’s multilateral development institutions come in.
Climate diplomacy is the process of advocating for actions to respond to climate change in diplomatic dialogues, public diplomacy, and policy instruments, and of contributing to public awareness about climate actions needed to effect change. What role does climate diplomacy play in ensuring effective climate actions around the globe?
The challenge of the Paris Agreement is “to achieve a balance between anthropogenic emissions by sources and removals by sinks of greenhouse gases in the second half of this century”. It’s a 50-year marathon, made up of successive five-year sprints, and we need to approach it as such.