African Negotiators Push Back on Key Elements of the Global Stocktake Report
The recent synthesis report for the Global Stocktake hints at some consensus around fossil fuel phaseouts. But African negotiators are displeased with its approach to equity and differentiation, and how it treats finance and technology transfer.
African Countries call for Finance Reform at the UNGA, but Lack of GCF Pledges is Worrying
African countries made impassioned and detailed statements on how the global finance architecture should change at this year’s UN General Assembly. The SDG Summit also highlighted key climate finance reforms needed. However, action was lacking at the Climate Ambition Summit, where GCF pledges were underwhelming.
Looking towards the IMF and World Bank meetings in Marrakech
Looking towards the IMF and World Bank Annual Meetings on 9 October in Marrakech, expectations are that climate related reforms should go beyond much needed capital increases and the re-channeling of SDRs. We discuss a recent report by the African Climate Foundation of what these reforms should entail.
Making the Global Financial System Work for Africa
Building a financing ecosystem that works for Africa requires a systemic transformation of existing approaches to debt, lending practices, the global development finance system, tax and trade. These measures should address the continent’s debt overhang, create a fairer financial ecosystem, and unlock financial flows while preserving fiscal sovereignty.
Urgent Call for Adaptation Investment Plans to Catalyse Adaptation Finance
Adaptation investment planning spur investments in prioritised projects and support the the implementation of adaptation and resilience measures in Africa. In this analysis, Sarah Wewege and Chipo Rusere discuss the advantages of this approach and how it can present a compelling case for investment.
