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Africa Climate Summit: From Aid to Investment | News

Addis Ababa, Ethiopia—In a bold and unified move, African leaders have adopted a new roadmap — the Addis Ababa Declaration to reposition the continent as a global leader in climate solutions. This historic commitment shifts the narrative from a focus on aid to investing in Africa’s own green future. 

“Over the last three days, we have not merely debated, we have defined a new paradigm for Africa’s climate future. We have moved the conversation from crisis to opportunities. From aid to investment,” Ethiopian President Taye Atske Selassie remarked at the close of the summit.

“The Unjust Burden of Climate Finance” 

The new roadmap is a direct response to a long-standing frustration over climate finance. For decades, African nations have demanded that developed nations, the largest emitters of greenhouse gases, fund their commitment to support adaptation and mitigation. Even with the Paris Agreement and the establishment of the Loss and Damage Fund, funding gaps remain. 

It is estimated that Africa’s government Nationally Determined Contributions (NDCs) required nearly three trillion by 2030, only a fraction of that amount has been provided. This leaves a staggering $2.5 trillion deficit, which African governments are attempting to fill with a commitment to mobilize 10 percent of their climate needs domestically.   

In 2021, Ethiopia, Kenya, Somalia and South Sudan received $2.4 billion, less than five percent of the $53.3 billion they need to address the climate crisis.

Exposing “Green Colonialism”

The debate extends beyond funding shortfalls. Speaking at a pre-summit forum, Elise Nalbandian, Head of Oxfam’s African Union Liaison Office in Ethiopia, urged environmental journalists to be cautious of Western dominance in climate change solutions. 

“Are we winning at all if we don’t combat green colonialism?” said Nalbandian.

Nalnandian highlighted that mining of Cobalt—minerals essential for the manufacturing of electric vehicles—primarily benefits western economies, while leading to the destruction of African soil and the killing of people in countries like Democratic Republic of Congo, Zimbabwe, and South Africa. This is a form of “green Colonialism “where the environmental burden of a global green transition is shifted onto Africa. 

Similarly, former African Development Bank head, Akinwumi Adesina, has criticized the carbon market as a potential new form of land grab and a trap to keep Africans in poverty. 

“We are green rich, but cash poor,” he said.

 He pointed out that numerous companies are currently buying up vast tracts of land across Africa to find projects, raising concerns about community rights and fair benefits. 

Speaking on behalf of the African Union Commission chair Mahmoud Ali Youssoif, Bankole Adepye, the AU Commissioner for political affairs peace and security said the summit had moved Africa’s climate agenda from crisis to opportunities, from aid to investment and from external prescriptions to Africa ed innovation. 

“We have sent a clear and united message ahead of COP30, this year’s UN climate conference, ” Afrocentric said. Africa’s climate demands are not charity appeals. They are calls for equity for justice and for shared global responsibilities. 

“A New Chapter: From Nairobi to Addis Ababa”

The Addis Ababa summit builds on the momentum of the inaugural Africa Climate Summit (ACS1) held in Nairobi in 2023. That event secured over $20 billion in pledges and produced the Nairobi Declaration, which was a unified call for global financial reform. 

The Nairobi declaration also emphasized the Continent’s aim to process more of its raw materials and become a key player in the global supply chain.

Despite these efforts, Kenya’s president noted in a recent progress report that Africa continues to face significant barriers from debt and a persistent shortfall in climate finance. Nonetheless, notable gains have been made including the launch of the Africa Green Industrialization Initiative, which aimed at leveraging resources and advancing investment through African financing institutions, and building partnerships with governments and philanthropists. 

This new chapter is rooted in the reality that Africa is home to over 1.5 billion people and is responsible for less than 4 percent of global emissions but bears a misappropriation burden of climate change impacts. Worsening drought, flood, and food security are costing some African nations up to 9 percent of their GDP with climate shifts since the 1960s causing a 34 percent decline in agricultural productivity in Sub-Sahara. The Congo Basin rainforest, the world’s second largest carbon sink, is also degrading at an alarming rate.

“A call for action, Not Just Promises”

Throughout the summit, one message resonated clearly: Africa cannot afford another circle of empty promises. “Floods, droughts, food insecurity, and displacement are already costing us lives and livelihoods, ” said Mary Namakanga, a delegate from Uganda. “Every month of delay is another year stolen from Africa’s development.”

For too long, Africa has been viewed as a victim of a crisis it didn’t create. Now with the launch of the Addis Ababa Declaration, leaders are committed to proving that the continent is a global center for climate solutions.

“Solution is the only way out”

The summit brought together over 2500,000 delegates and 100 speakers. For these three days, they chatted, made speeches, all showcasing exhibitions of ongoing projects on renewable energy, all demonstrating that the continent is prepared to “Accelerating Global Climate Solution: Financing for Africa’s Resistance and Green Development.”

This theme builds from ongoing green initiatives in Kenya, Ethiopia, and the Congo Basin.

“The theme of this year’s summit “Accelerating Global Climate Solutions: Financing for Africa’s Resilient and Green Development” could not be timelier. It speaks to the urgency of this moment. Across our continent, communities are demanding climate solutions that are not only fast, but fair; not only global but grounded in Africa’s realities,” said Dr. Mithika Mwenda, Executive Director, Pan African Climate Justice (PACJ).  

The PACJ criticized African leaders for not protecting their citizens’ interests. He called on African leaders, which is why ACS2 cannot be business as usual. It must be an implementation blueprint with deliverables, deadlines, and scorecards.  

Leaders also launched the Africa climate innovation compact, a platform that would championed Afroca led solutions and mobilize resources to transition green growth across the continent. The compact emphasizes the role of innovation, technology and inclusive financing in scaling up solutions that address Africa’s challenges of climate vulnerabilities and development needs. 

As one of the world’s greenest countries, with West Africa’s largest forest and biggest carbon sink, Liberia plans to enter the carbon market. Additionally, the country generates 67 percent of its energy from hydropower. 

“Africa is not defined by vulnerability—we are proving resilience,” said Dr. Emmanual Yarkpawolo, Liberia’s Environmental Protection Agency (EPA) Executive Director. 

The declaration would be used to present Africa as a unified voice at the upcoming Conference of the Parties (COP30) to be held in Belem, Brazil, in November. The inputs were gathered from panelists and delegates in various sessions discussing the strategies and messages the content should present at the convention.