Climate finance has recently become a subject of profound interest to the global debates on climate change. At this year’s 17th UNFCCC Conference of the Parties (COP) in Durban, climate finance is expected to feature prominently. This being the “African COP”, we hope that the African perspective on climate finance will receive the attention it deserves.

However, the current models of financing do not match Africa’s climate change priorities. With approximately 80 percent of all climate finance directed to mitigation, adaptation, which is a priority for Africa, remains grossly underfunded. Additionally, less than 2% of the total Clean Development Mechanism projects implemented globally are located in Africa. These figures clearly expose the current disparity, and raise the question around Africa’s access to global climate finance.

It is our hope that by delving deep into the issues that affect Africa’s access to climate finance, we begin to explore “win-win” financing solutions that reduce vulnerability to climate change and contribute to the broader economic development of the continent.

'Perspectives' is published by HBS Southern Africa