Climate Finance, African Development BankNobantu ModiseCOP27, United Nations, UN Climate Change Conference, Sharm El-Sheik, Egypt, UNGA 77

AfDB President Adesina's Thoughts On The Current Climate Finance Landscape

Climate Finance, African Development BankNobantu ModiseCOP27, United Nations, UN Climate Change Conference, Sharm El-Sheik, Egypt, UNGA 77
AfDB President Adesina's Thoughts On The Current Climate Finance Landscape

Pointed, clear and specific. African Development Bank (AfDB) President, Dr. Akinwumi A. Adesina’s remarks were delivered at the second Climate and Development Ministerial Meeting, hosted on the sidelines of the 77th United Nations General Assembly where he articulated a clearer picture of what he and the bank have been working proactively towards achieving and hope the rest of the world will actively support at “Africa’s COP” later this financial quarter.

In less than two months, eyes and ears will turn to Sharm El-Sheik, Egypt for the next UN Climate Change Conference (COP27). Rather than wait for “Africa’s COP to begin, The African Development Bank held several engagements, which they dubbed “proactive”, around their strategic priorities at the recently concluded 77th United Nations General Assembly (UNGA) meetings in New York, USA. Some of the meeting highlights included an urgent call for increased financing to mitigate the effects of climate change and food insecurity and the need to replace talk with tangible action. But unlike the usual please issued by leaders of the continent, Dr Adesina led the bank’s delegation to the meetings delivering poignant remarks supported by evidence of efficient and decisive action already taken by the bank, and a clear understanding of the international community’s complicity and unavoidable responsibility related to mitigating the impact suffered by Africans as a result of climate change.


The bank’s engagements reflect its priorities as African countries have been struggling with the lingering impact of the Covid-19 pandemic, above food and fuel price spikes stemming from Russia’s war in Ukraine, and climate change. See the following recording of Dr Adesina’s address at the second Climate and Development Ministerial Meeting, hosted by the Rwandan and British Governments on Tuesday, 20 September 2022. The Ministerial Meeting occurred on the sidelines of the 77th United Nations General Assembly which took place from 13-27 September 2022. The side event also builds on the successes of the first Ministerial Meeting held in 2021. Here Adesina, with the COP26 President and Rwandan Minister of Environment, outlined some of the foci of climate-vulnerable countries and they crafted a clear path on how to develop tangible progress.



Hosting an “African COP” presents a unique opportunity for a unified African voice to demand that the global community move beyond talk to concrete action on financing for climate adaptation and mitigation. “Unfortunately we have megawatts of talk and zero delivery of goods”, says Adesina. The golden question is will this change?

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