Africa’s Green Growth Agenda: Unlocking Opportunities for a Climate-Resilient Future
African Development Bank Group (www.afdb.org) Participated in the third edition of the Green Economy Summit in Africa (Age) (Age) (https://apo-opa.co/4izmwcf) From February 18 to 21, 2025 in Cape Town, South Africa.
The annual summit, chaired by the African Union, brings together policy makers, stakeholders, the private sector and experts who discuss the green transition in Africa and the urgent need to increase investment in climate resilience. The theme of the conference was “Building a climate-resilient Africa: Catalyzing investment and innovation in green and blue economies”. Discussions in four days spanning five key areas: climate financing, biodiversity and nature, green reform, resilient cities and green industrialization.
With its huge renewable energy potential, key minerals that are crucial to the global energy transition and an increasing commitment to climate-smart solutions, Africa is very conducive to the move towards sustainable global growth. As it is in the context of increasing climate challenges, it leads to a path to fully realize these infinite possibilities, there is an increasing focus on the urgency of resource mobilization.
Dr. Anthony Nyong, Director of Climate Change and Green Growth at the African Development Bank, gave a keynote speech at the opening ceremony of the summit, in which he spoke about this. He added that “Africa has a great opportunity to lead the global efforts to transition to a green economy”, adding that “to build a climate-rich Africa, adaptation must be at the heart of our strategy. While global climate financing continues to prioritize mitigation efforts, adaptation has been greatly reduced, reducing the scope of total climate finance by less than 10%.””””’.
Nyong called for a triple climate financing and green investment in Africa and demanded the right partnership for financing, concluding: “Together we can build an Africa that lives in harmony with nature.”
The bank is the “platinum sponsor” of the summit, showing its leadership in countries supporting African countries towards climate resilience and low carbon development in a range of events, discussions and roundtables, which sheds light on in its climate change and green growth framework 2021-2030.
Harsen Nyambe, head of the African Union’s Blue Economy and Sustainable Environment, stressed the role of the summit as “an important link between global capital and sustainable projects on the African continent”.
Barbara Buchner, global managing director of the Climate Policy Initiative, stressed the urgent need for private sector participation, highlighting that existing funds account for only about 23% of Africa’s estimated climate financing needs, while only 18% of climate financing on the continent comes from the private sector – a figure “much lower than other regions”.
South Africa’s Maxwell Gomera, a resident representative of the UN Development Program, highlighted another key issue: “We have sent people to the moon, but we still haven’t solved the challenge of cleaning cooking. It’s a business issue.”
“For the African Development Bank, driving green growth in Africa has brought challenges and great opportunities. In this regard, AGES provides a unique platform in a range of regions to focus Africa on green economic opportunities such as renewable energy, critical minerals, climate smart agriculture, green cities, low-carbon and climate green cities, and other styles of green, as well as other styles of green, as well as others.
On Tuesday, February 18, the Banking Group held a masterclass on the carbon market in Africa, exploring how the carbon market becomes more stable and attractive to growth and provides new opportunities for market entry and project development.
By leveraging platforms such as age, Africa can strengthen partnerships, free up funds and implement policies that drive a sustainable and resilient future. With targeted investments and bold commitments, the continent has the potential to lead the shaping of low-carbon, climate-smart economies that benefit its people and the planet.
Read and watch Anthony Nyong’s interview here (herehttps://apo-opa.co/4bait1g)
Distributed by Apo Group on behalf of the African Development Bank Group (AFDB).
Social Media:
Embed Flickr Album https://apo-opa.co/4ixi7cx
Link to Carbon Market Blog
