The Second
Africa Climate Summit (ACS2) has concluded with a powerful assertion of
Africa’s role as a global leader in climate action and sustainable development.
Hosted by the Federal Democratic Republic of Ethiopia in collaboration with the
African Union, the summit saw the adoption of the African Leaders Addis Ababa
Declaration on Climate Change and a series of multi-billion-dollar financial
commitments to support locally-led climate solutions across the continent.
Under the theme
“Accelerating Global Climate Solutions: Financing for Africa's Resilient and
Green Development,” the three-day summit brought together over 25,000
delegates, including heads of state, ministers, private sector leaders, civil
society representatives, and development partners. The gathering culminated in
the launch of several groundbreaking initiatives designed to transform Africa's
climate economy.
Key outcomes
include the establishment of the Africa Climate Innovation Compact (ACIC) and
the African Climate Facility (ACF), initiated by Ethiopian Prime Minister H.E.
Abiy Ahmed, which aims to mobilize $50 billion annually in catalytic finance.
The Compact has set a goal to deliver 1,000 African solutions to address
climate challenges in energy, agriculture, water, transport, and resilience by
2030.
In a landmark
move, African financial institutions—including AfDB, Afreximbank, Africa50, and
AFC—signed a cooperation framework to operationalize the Africa Green
Industrialisation Initiative (AGII), backed by $100 billion for green growth.
Additionally, the Government of Italy reaffirmed its commitment to devote
approximately 70% of its $4.2 billion Italian Climate Fund to Africa, signing a
memorandum of understanding with Ethiopia to facilitate implementation.
The summit also
emphasized the urgent need for reformed multilateral development banks and
improved access to adaptation finance in the form of grants rather than loans.
The newly launched Africa Just Resilience Framework (JRF) and the Climate
Justice Impact Fund for Africa (CJIFA) will provide critical funding and
support for local climate initiatives, with CJIFA already dispersing 64 grants
across 17 African countries.
As ACS2 closed,
leaders outlined a clear path to COP30 in Belém, positioning Africa not as a
victim of climate change but as a dynamic driver of global climate solutions.
The Government of Ethiopia and the African Union Commission pledged to ensure
the implementation of the Addis Ababa Declaration and the initiatives launched
during the summit, reinforcing Africa’s commitment to a resilient and
sustainable future.
By: Nana Appiah Acquaye
