Africa will need to mobilize nearly $277 billion annually by 2030 to implement its Nationally Determined Contributions (NDCs), Claver Gatete, Executive Secretary of the United Nations Economic Commission for Africa (ECA), warned on Monday in Addis Ababa.
Speaking at the 14th Conference on Climate Change and Development in Africa, Gatete placed financing at the heart of the challenges facing the continent in implementing its climate commitments.
According to Claver Gatete, currently available climate finance represents only around 11% of estimated needs. This considerable gap risks slowing the implementation of adaptation and mitigation policies across the continent.
A Low-Emitting Continent, Yet Highly Vulnerable
The paradox remains particularly striking. Africa accounts for less than 4% of global greenhouse gas emissions, yet it is among the regions hardest hit by the consequences of climate change.
For the ECA Executive Secretary, this situation reinforces the need to uphold the principle of climate justice and secure greater international support for African countries.
However, the continent has significant assets. It possesses vast renewable energy potential, critical mineral resources, a young population, rapidly expanding markets and fast-growing technological capabilities.
The challenge now is to turn these resources into drivers of development while accelerating the transition toward low-carbon economies.
More Than 600 Million Africans Without Electricity
The climate challenge is also inseparable from the issue of energy access. More than 600 million Africans still lack access to electricity, Claver Gatete noted.
For the ECA, climate action therefore cannot be separated from development priorities. The energy transition must go hand in hand with expanding access to electricity, increasing generation capacity and creating jobs.
This approach places renewable energy at the heart of a dual ambition: meeting the continent’s energy needs while creating new economic opportunities.
Turning Africa’s Resources into Jobs
According to the ECA, Africa’s vast energy and mineral resources could serve as a driving force for the structural transformation of its economies.
The objective is, in particular, to expand local processing, build regional value chains and create more jobs on the continent rather than primarily exporting raw materials.
"Africa’s renewable energy and critical mineral resources offer us an opportunity to boost our economies, process more of our production locally, build regional value chains and create jobs,” Claver Gatete said.
For Africa, the climate challenge therefore represents a major constraint, but also an opportunity to accelerate the energy transition, industrialization and job creation, provided that the necessary financing can be mobilized.