Africa launches bold $50b climate initiative to tackle devastating environmental crisis
By Abdullahi Lukman
African leaders unveiled an ambitious plan to secure $50 billion annually for a continent-wide climate solutions initiative spearheaded by Ethiopia’s Prime Minister Abiy Ahmed.
The announcement came amid increasing climate disasters, including landslides, floods, and droughts impacting the 54-nation continent this year.
Despite setbacks such as the United States’ withdrawal from the Paris Climate Agreement, African nations remain committed to combating climate change.
The new initiative will establish the Africa Climate Innovation Compact and the African Climate Facility, aimed at mobilizing substantial funding to drive innovative climate solutions across Africa.
Prime Minister Abiy, speaking at the summit’s opening, emphasized that the project seeks to deliver 1,000 climate solutions by 2030.
Ethiopia showcased its ongoing environmental efforts, including a large-scale tree-planting campaign started in 2019 and the inauguration of a massive hydroelectric dam, highlighting Africa’s ability to balance economic growth with environmental protection.
In addition, the summit saw a landmark agreement between African development financiers and commercial banks to raise $100 billion for green power investments.
However, the continent faces a significant funding gap — needing over $3 trillion to meet climate goals by 2030 but having secured only $30 billion between 2021 and 2022.
The summit’s draft declaration calls for stronger international partnerships and increased financial support, especially grants, to help Africa adapt to climate change and close the investment shortfall.
This bold move marks a critical step in Africa’s fight to protect its environment and future generations amid the global climate crisis.
