As we approach the global annual climate change conference, COP29, the need for increased public finance from the global north to address climate adaptation in Africa has become more urgent than ever.
However, framing the finance debate solely around this need risks deepening mistrust and downplaying the scale of the challenge. The financial burden of addressing climate change, coupled with limited fiscal space, creates a precarious situation for many African countries. African countries bear no historical responsibility for causing the climate crisis. However, they rely heavily on external financing to solve climate change problems.
Unfortunately, much external climate finance comes from loans rather than grants. This only worsens Africa’s debt burden. There is also not nearly enough money being channelled to Africa to pay for climate change adaptation.
