African countries at UN COP meetings aim to increase their climate financing share from 1% to 5%.

African countries are seeking to increase their share of global climate financing to 5% at U.N. COP meetings, arguing their current 1% is insufficient. They propose increasing access to global climate funds, and consider innovative green financing deals to redirect debt payments. Experts suggest political will, regulatory efforts, and improved technical capacity to develop bankable proposals and streamline finance access. To achieve increased climate finance, Africa can strengthen South-South and North-South cooperation and promote local solutions.

August 22, 2024
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