Africa gets only 23% of the climate finance it needs – and pays too much for it

African countries have committed themselves to cutting greenhouse gas emissions and protecting their people from the worsening effects of climate change. These commitments form part of the Paris Agreement, an international climate treaty adopted in 2015 in which countries agreed to take steps to limit global warming.

Doing this requires billions of dollars in climate finance for clean energy and for making agriculture, water systems and infrastructure resilient to climate change.

But the finance reaching Africa falls far short. The continent received an average of US$43.7 billion a year in 2021 and 2022 – only about 23% of what is needed. Africa needs roughly four dollars for every dollar it currently receives.

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