A just-concluded climate summit for Africa, the second one for the continent, attracted thousands of participants and more than 50 heads of state. The turnout in Ethiopia underscored not only Africa’s vulnerability to extreme weather but also, encouragingly, a shared vision to tackle the effects of climate change in a way that promotes economic growth.
The summit’s tone signaled a move past the often-unmet expectations of foreign assistance for climate adaptation. The focus was on coordinating priorities among African nations, unlocking human and natural resources, and seeking investment in African-led innovation in green technology and food security.
Kenya’s climate envoy, Ali Mohamed, called for a “continent-wide climate pact to replace isolated national plans.” And Wamkele Mene, head of the continent’s free-trade secretariat, said the point is to “mobilize African capital first,” shifting from being an aid recipient to being an investment partner, the news site Mongabay reported.
At the summit, a deal was sealed among some large African banks and development finance institutions to mobilize $100 billion for building out renewable energy for new industries. The African Union and European partners agreed to boost access to electricity through cross-border transmission infrastructure. About 600 million Africans, or roughly 40% of the continent’s population, do not have electricity.
Even within the constraints of climate change and poverty, Africa’s citizens demonstrate high entrepreneurial energy and drive. If political and business leaders match actions to summit words, African nations can avoid or leapfrog some of the environmental pitfalls of industrialization models followed by the West, Asia, or Latin America. But this would call for less bureaucracy, more innovation-friendly policies, and reliable, accountable governance and financial institutions.
The scope for climate-resilient investment is growing, with the African Development Bank allocating $5.5 billion in 2024. And a new report this week shows that private finance for such investments worldwide reached $134 billion in 2024, a 33% increase from 2023.
Perhaps Ethiopia’s Prime Minister Abiy Ahmed best summed up Africa’s evolving stance and potential for climate action.
“We are not here to negotiate our survival,” he said, declaring that Africa is poised to design a new type of climate-resilient economy. “Do not fund us because we are impacted [by climate change], but invest with us because we are visionary.”
