Climate Financing

Abstract

Climate financing is crucial for effectively mitigating and adapting to climate changes and achieving sustainable development globally. This chapter examines climate financing in Africa, highlighting current trends in comparison to other global regions, the costs and needs for both mitigation and adaptation across various sectors, and the policy and accountability issues surrounding the support and use of climate funds. Additionally, it evaluates three case studies of African countries regarding their climate change resilience, financing strategies, and methods to mobilize additional funds. The analysis reveals that Africa is significantly underfunded in terms of improving climate resilience. Consequently, there is a pressing need for increased funding, along with enhanced policies and improved information and knowledge sharing on resource utilization, to bolster accountability and build confidence among climate financiers.