A key topic at this week’s African Climate Summit in Ethiopia is the urgent need for billions more in funding from rich nations chiefly responsible for the climate crisis to flow to poorer nations to tackle and adapt to its devastating effects.
“Climate finance must be fair, significant and predictable,” said Mahmoud Ali Youssouf, the chairperson of the African Union in his opening address. “We need genuine cooperation.” The estimated adaptation finance needs for Africa stand at $61 billion (£45bn) per year this decade according to the UN - but the actual flow of money from rich nations totalled only $13bn in the last full statistics from 2022.
