Johannesburg, South Africa, 8 May 2024 – The African Climate Roundtable concluded with a call for increased involvement of the private sector in developing and executing innovative actions and solutions that advance adaptation to climate change in Africa. Delegates at the forum also called for more investment and ease access to innovative green and climate finance mechanisms to ensure that vulnerable countries are better equipped to deal with the impacts of climate change.
The Global Green Growth Institute (GGGI) is among the conveners of the African Climate Roundtable, alongside the African Risk Capacity (ARC) Group and other prominent global actors and esteemed African institutions in the climate change and food security spaces. Forum participants included government representatives, private sector leaders, civil society actors, multi-lateral and non-governmental organizations, and UN officials.
The African Climate Roundtable, a pivotal two-day event that was held in Johannesburg, South Africa from May 7 – 8, 2024, is meticulously designed to gather stakeholders from diverse sectors to address pressing challenges in Africa’s climate action and food security landscape. It was held under the theme: “Scaling up climate finance and adaptation towards greater resilience in Africa.” Discussions explored the impacts of climate change in Africa on food systems, health, economies, and the overall well-being of the populations as well as how the gender gap can be better addressed. Delegates discussed strategies to facilitate access to required funding and investments, as well as the role of governments, private sector, and other actors in strengthening Africa’s climate action and resilience to climate change.
Speaking at the Roundtable, Dr Malle Fofana, the Africa Regional Director for GGGI, said: “Effective response to the challenges brought by climate change entails the adoption of holistic approaches that integrate climate considerations into all aspects of policy and decision making. This may involve investing in resilient infrastructures, promoting nature-based solutions, adopting circular systems, catalyzing the scale up of concessional finance to lure in the private sector and boost climate finance, and increasing food security and production through Climate Smart Agriculture practices, among other measures.”
Climate adaptation initiatives should be presented as business opportunities to secure investments from the private sector, a move that would ensure further climate financing avenues for Africa, Dr Malle noted.
At the Roundtable, Dr Malle also highlighted two groundbreaking GGGI initiatives: the Africa Middle East SAFE initiative and the upcoming launch of the Carbon Transaction Facility (CTF), which aims to facilitate internationally transferred mitigation outcomes (ITMOs) transactions through a series of readiness activities managed under a single multi-donor facility.
At this forum, the World Food Programme (WFP) committed to working with GGGI on activities related to Climate Smart Agriculture, Forestry and Carbon reduction in the Republic of Congo and Zambia. The African Risk Capacity (ARC) Group also committed to work with GGGI on Disaster Risk Reduction, Climate Adaptation finance, Anticipatory Action, and Risk Insurance.
The African Climate Roundtable emphasized the need to redefine priorities, needs and expectations of climate financing and adaptation from an African context and move to catalyzing action that responds to the challenges that the continent faces. In addition, delegates also committed to working together to ensure the operationalization of the Loss and Damage Fund, streamline mechanisms for green and climate finance, cushion the impacts of climate change on food systems and support farmers to adopt proper adaptation and mitigation measures. In addition, it was also agreed to put in place systems that will support the continent to unlock its full potential for climate resilience and to foster an environment that is conducive to sustainable and inclusive development.