South African Just Energy Transition Partnerships: New and Transformative Finance Lacking
Details around the finance provided under South Africa’s $8.5 billion Just Energy Transition Partnership have been vague and unclear, with worrying signs that the terms of finance will make it unfit for purpose.
US Pledges $5 million to Address Methane Emissions in Africa
The United States government has announced a $5 million grant that it will provide support to the African Development Bank (AfDB) to tackle methane emissions in Africa.
Rwanda will host the Green Climate Fund (GCF) Board Meeting in March 2023￼
Following from Egypt’s hosting of COP27 in November 2022, Rwanda will host the 35th meeting of the GCF board meeting in March 2023. Rwanda has a strong partnership with the GCF, being the first country to have a national institution, the Ministry of Environment, accredited for direct access to through the fund.
OECD reports that developed countries fell $17billion short of their climate finance target￼
The OECD has released its latest report on climate finance, setting out the aggregate trends of climate finance provided and mobilised by developed countries between 2013-2020. It finds that in 2020, total climate finance provided and mobilised by developed countries amounted to USD 83.3 billion. This remained USD 16.7 billion short of the goal of USD 100 billion.
Egypt seeks to raise ambition with no “backsliding or backtracking” on commitments
Egypt, the host of COP27 in Sharm el Sheik in November this year, wants to ensure there’s no backtracking on past commitments. Egyptian Foreign Affairs Minister Sameh Shoukry, who is also the conference’s president has recognised the difficult geopolitical situation could impact on negotiations and the level of ambition this year. He confirmed that the main focus of […]
New Zealand releases international climate change finance strategy￼
New Zealand has become one of the few countries globally to release an international climate change finance strategy. The strategy sets out how New Zealand’s climate finance will be put to work, together with the values and principles that will guide allocation decisions. It sets out goals, preferences and priorities, including how its climate finance approach ties […]
Implications of the United States’ new Climate Law and Africa Strategy for Africa
The US’s Inflation Reduction Act contains some of the most robust climate change provisions in American history. It will likely spur a race to the top in renewable energy technologies and have implications for African exports in critical minerals for these technologies. The US Strategy for Sub-Saharan Africa, which was released around the same time, however is disappointingly vague on key climate issues, including climate finance.