What did COP27 Achieve for Financing Africa's Climate Agenda?

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Background and Context

African countries continue to advocate for more climate financing flows to the continent, especially for adaptation and “loss and damage”, but how much of this was achieved at the 2022 United Nations Climate Change Conference (COP27), dubbed ‘Africa’s COP’ in some circles, and which took place in Sharm El Sheikh, Egypt, from 6-18 November 2022.

COP27 took place amidst the aftershocks of the Russia–Ukraine conflict, straining developed countries’ commitment to providing climate finance and hindering the implementation of energy transition goals. Africa’s rapid economic development is directly linked to delivering reliable modern energy, transportation and agricultural services — especially electricity. Achieving universal access to affordable, reliable, sustainable, and modern energy by 2030 also remains one of Africa’s critical challenges tied to its economic and sustainable development and contribution to climate action. At the heart of these is ensuring a just and equitable energy transition for the continent. Africa needs US$250 billion annually between 2020 and 2030 to implement its nationally determined contributions (NDCs) under the Paris Climate Agreement.

However, the region faces a huge financing gap, particularly adaptation financing. In the run-up to COP27, APRI undertook and published a landmark study to understand the climate finance landscape in Africa. The study findings were shared before and during COP27.

The Webinar

In the aftermath of COP27, APRI seeks to organise a fireside chat with the lead researchers of the said report to reflect on the key outcomes of COP27 and what these mean for financing Africa’s climate agenda in 2023 and beyond. The Event will discuss the public climate finance delivery, implementation mechanisms and architecture in Africa in the context of the outcomes at COP27. It will brainstorm actions needed to address the needs, challenges and opportunities associated with climate financing in Africa. The event will deepen post-COP conversations on what stakeholders need to do differently to achieve the key outcomes of COP27.

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