By Faridat Salifu
Amidst the raging global climate crisis, African and other developing countries have called for the urgent establishment of a financial facility, called adaptation finance, to enable them develop resilience and adapt to the crisis.
Presenting their case at the 29th Conference Of Parties (COP29), dubbed: Climate Finance Cop, in Baku, Azerbaijan, the countries recommended that the facility should be grant-based.
Specifically, African civil society leaders, under the Pan African Climate Justice Alliance (PACJA), are calling on COP29 participants to ensure financing that addresses Africa’s unique needs.
The Conference of Parties aims to set a new climate finance target that addresses the disproportionate impact of climate change on vulnerable nations.
Simon Stiell, Executive Secretary of UN Climate Change, emphasized the urgency of this commitment, noting, “If at least two-thirds of the world’s nations cannot afford to cut emissions quickly, then every nation pays a brutal price.”
Global civil society organizations, including 350.org, are advocating for a New Collective Quantified Goal (NCQG) of at least $1 trillion in grants, calibrated to meet the financial, climate, and social needs of the Global South.
He said the financing would enable developing countries to bolster their Nationally Determined Contributions (NDCs) and prioritize the shift toward renewable energy and fossil fuel phase-out by 2030.
“Let’s dispense with any idea that climate finance is charity,” said Stiell, continuing, “An ambitious new climate finance goal is entirely in the self-interest of every nation, including the largest and wealthiest.”
Dr. Mithika Mwenda, Executive Director of Pan African Climate Justice Alliance (PACJA),
warned that if COP29’s financing goals fail to consider Africa’s adaptation needs, it would fall short of being a true “Climate Finance COP.”
The adaptation finance gap for developing nations remains substantial, with current flows of around $20 billion per year, far below the estimated $166 billion to $366 billion required annually.
PACJA and other African groups, therefore, stressed the need for public, grant-based adaptation finance that aligns with NDCs, National Adaptation Plans (NAPs), and other national objectives.
To address the financial disparity, African negotiators are pushing for a reimagined approach to climate finance.
Prof. Seth Osafo, Senior Legal Advisor at the African Group of Negotiators, highlighted the importance of moving beyond debt-heavy financing structures, which currently constitute 72% of climate finance.
He advocated for concessional loans, grants, and innovative mechanisms that offer predictable and accessible funding.
“Funding must be structured to prioritize essential sub-goals, including Loss and Damage,” Osafo noted, referring to financial support for nations suffering from irreversible climate impacts.
He called for an NCQG framework that considers whether a single or multi-layered approach would best mobilize and distribute funds equitably.
As the negotiations continue, African civil society leaders stress the importance of prioritizing adaptation and just transitions.
“The world must recognize that African communities are on the frontlines of climate change,” said Mwenda, calling on global leaders to meet their responsibilities through actionable commitments that protect the most-vulnerable.
The outcome of COP29 will be pivotal for Africa and other regions facing the impacts of climate change. As leaders work toward an equitable and effective climate finance strategy, African advocates are pushing for a future where financial support translates into meaningful action, resilience, and sustainable growth for all