Africa Climate Summit 2023: Advancing Green Growth & Finance

Introduction

The Africa Climate Summit 2023, held in Nairobi, Kenya from September 6th to 7th, marked a pivotal moment as African leaders, experts, and stakeholders converged to advance the continent's green growth and climate finance agenda. Organized by the African Union Commission in collaboration with the Republic of Kenya, this historic event aimed to showcase Africa's progress, foster dialogue, and align on shared priorities for global climate discussions.

Key Participants

Distinguished dignitaries graced the summit, including African Union Head of State, Chairperson of the AU, Chairperson of the AU Commission AUC, among others.

Theme and Declaration

Under the theme "Driving Green Growth and Climate Finance Solutions for Africa and the World," the summit saw the adoption of the African Leaders Nairobi Declaration on a Green Growth and Climate Finance Agenda. This declaration emphasizes the need for a global financial overhaul, focusing on fit-for-purpose financing instruments that support specific growth objectives. It also reiterates Africa's dedication to implementing the Paris Agreement and the 2030 Agenda for Sustainable Development.

Investment Commitments

The summit was also not short of investment commitments, highlighting multi-billion-dollar green deals across various thematic sectors, such as renewable energy, sustainable agriculture, green cities, blue economy, circular economy, nature-based solutions, and climate resilience. It further underscored the importance of innovation, knowledge sharing, and capacity building in Africa's green transition.

Action Plans

Also, discussing implementation strategies, the summit called for a comprehensive review of the international financial architecture to meet Africa's unique needs. It advocated for increased access to concessional finance, debt relief, grants, blended finance, guarantees, and private sector mobilization. The establishment of an African Green Growth Fund (AGGF) to boost green investments in Africa also gained endorsement. Additionally, support for the African Continental Free Trade Area (AfCFTA) and the development of green growth strategies aligned with the AU Agenda 2063 and the SDGs were equally emphasized.

Data and Stakeholders

Furthermore, recognizing the role of data in tracking progress, the summit stressed the importance of enhancing data collection, monitoring, evaluation, and reporting systems. It also acknowledged the crucial role played by youth, women, civil society, academia, media, and other stakeholders in advancing green growth and climate action.

Africa Climate Week (ACW) 2023

Held alongside the Africa Climate Summit, ACW 2023 (September 4th-8th, Nairobi, Kenya) facilitated dialogue and action on climate change adaptation and mitigation in Africa. This event also served as a preparatory platform for the upcoming COP28 in Glasgow, UK.

Conclusion

The Africa Climate Summit 2023 not only demonstrated Africa's leadership and vision for green growth and climate finance but also showcased the continent's commitment to global climate challenges. Africa stands ready to collaborate with the world to address this pressing issue.