African nations are pushing for a dramatic increase in climate financing at the UN’s Cop29 summit that opened in Azerbaijan on Monday – calling for $1.3 trillion (€1.22 trillion) annually to help the continent transition to renewable energy, adapt to climate impacts and address damage from climate-related disasters.
The target represents a massive 13-fold scaling up of finance for developing nations.
Funding levels are expected to reach “between $105 and $115 billion (€98 – €108 billion) for 2025”, Seyni Nafo, spokesperson for the African negotiators’ group and chair of the Green Climate Fund told RFI from the event in Baku.
The African delegation has called for a structured increase in climate finance, beginning with a minimum base of $110 billion (€103 billion) by 2025 and reaching the $1.3 trillion (€1.22 trillion) target annually by 2030.
Priorities include transitioning to renewable energy and building resilience to climate impacts, as floods, droughts and cyclones increase in frequency.
“We don’t want this goal to be just a round number that sounds good politically, but one that truly meets the needs of developing countries,” said Tosi Mpanu Mpanu, the negotiator from the Democratic Republic of Congo.
Increasingly vulnerable
The summit’s focus on establishing a new climate finance goal comes as global temperatures continue to break records.
Recent years have seen devastating cyclones in southern Africa, severe droughts in the Horn of Africa and flooding across multiple regions – disasters that have underscored the urgent need for both adaptation funding and compensation for loss and damage.
For African countries, securing climate funds is not just about survival but about a fair transition that acknowledges the disproportionate burden they bear from a crisis they did not primarily cause.
The summit comes at a crucial moment for nations grappling with mounting climate impacts while already facing significant debt burdens. Many African countries want funding to come in the form of grants rather than loans to avoid deepening their existing financial stresses.
Accessing climate funds has already proven challenging, so making the money more readily available is considered as crucial as increasing the overall amount.
“We hope these funds, if mobilised, will have better disbursement methods because often the money is there, but we can’t access it,” said Mpanu Mpanu.
Climate summit faces trillion-dollar showdown as Cop29 opens in Baku
Geopolitical tensions
The talks are taking place amid concerns about potential shifts in US climate policy following the election of Donald Trump, whose first term saw the US withdraw from the 2015 Paris Agreement.
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Washington rejoined the accord under President Joe Biden.
Nafo conceded the likelihood of another withdrawal if Trump follows through on his campaign promises. Perhaps even worse, the US may withdraw from the UN Framework Convention on Climate Change altogether, he added.
African negotiators are therefore developing strategies that look beyond traditional climate frameworks.
With little progress at Cop16 biodiversity summit, Africa demands more action
“What we’ll need to do – and we are discussing this a lot within our group – is also to look at the bilateral side,” Nafo said, noting significant changes in Africa’s global position since previous negotiations.
“Africa now has a seat at the G20, which wasn’t the case in 2016. African heads of state are much more active on climate issues.”
Despite global political uncertainties, African nations say they’re pursuing multiple diplomatic channels.
“Our strategy is to also work on a bilateral US-Africa agenda, and we believe that Africa has some strong cards to play,” Nafo said.
Read or Listen to this story on the RFI website.
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