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Climate Finance Bimonthly Newsletter - Issue N° 38 – COP 22 Special Edition – January 2017

16-May-2019

We are delighted to welcome you to our special issue of the Climate Finance newsletter. This issue prioritizes key highlights and prime activities from the 22nd edition of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP22) from an African perspective.

The entry into force of the Paris Agreement on the eve of COP22 reflected the commitment of the international community to make the agreement a reality. Two key issues were of particular importance to Africa at COP22: operationalizing the Paris Agreement and deploying means for its implementation.

The African Development Bank continued its support to the African Group of Negotiators to ensure that the Paris framework is consolidated into a binding and enforceable agreement capable of addressing challenges that concern the continent, in particular access to climate finance. Africa, currently the most climate risk-exposed region, has only been able to access just about 4% of global climate finance. One of the reasons put forward for this low access is the lack of bankable projects on the continent, which in itself is symptomatic of complex interlinked challenges Africa faces. The AfDB will address this through a proactive client engagement exercise it unveiled with the creation of the Vice Presidency for Power, Energy, Climate and Green Growth. Moving forward, scaled up investment in low carbon and climate resilient projects will be the hallmark of doing business at AfDB.

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