African countries aim to use this year’s U.N. COP meetings to secure a larger share of global climate financing.
Representatives at a Kenyan meeting emphasized the need for more funds to combat escalating climate change threats across the continent.
African negotiators have prepared strategies to present at a pre-COP 29 meeting of African environment ministers in Ivory Coast next month.
The 54-nation continent has seen more climate funds lately but still receives less than 1% of global financing.
“One percent for Africa is a joke,” said Kenya’s housing and urban development minister, Alice Wahome.
Africa needs up to $1.3 trillion in investments, compared to just over $100 billion in global climate finance, officials reported.
Limited access to external funds forces African governments to allocate budget resources for climate adaptation.
This extra spending occurs as many economies face debt struggles, said Raila Odinga, vying for the African Union Commission’s leadership.
Ali Mohamed, co-chair of African climate negotiators, suggests improving access to global funds like the Green Climate Fund.
Kenya is also exploring sovereign green bonds and innovative financing deals to enhance its climate finance share, officials noted.
