African heads of state and government attending the Africa Climate - photo credit: IGAD

African leaders at the Second Africa Climate Summit in Addis Ababa say the continent needs three trillion dollars to meet its climate goals by 2030.

President Salva Kiir joined other African heads of state and government in the Ethiopian capital between 8th and 10th September to discuss key climate issues facing the continent.

The discussions focused on securing financing for climate initiatives, creating a coalition of critical mineral producers to power green energy supply chains, and demanding the full operationalization of the Loss and Damage Fund for direct access by vulnerable nations.

In a statement seen by Eye Radio, the leaders said limited financing for adaptation, resilience, and sustainable development is preventing the continent from reaching its climate targets.

“…further Acknowledge that Africa needs over US$3 trillion to meet its climate goals by 2030, but has received only US$30 billion between 2021 and 2022, demand stronger international commitments and partnerships to close the finance gap and support adaptation, resilience, and sustainable development, and call for urgent reforms in climate financing mechanisms to ensure fairness, adequacy, accessibility, and affordability, with a strong emphasis on grants rather than loans to avoid worsening Africa’s debt, and on the timely and equitable disbursement of resources,” the statement read in part.

They noted that Africa produces less carbon emissions compared to the rest of the world but suffers more devastating impacts of climate change.

The statement highlighted that Africa has only received 30 billion US dollars out of the three trillion needed to address its climate crisis.

The leaders also called on developed countries to recommit to their pledges to fund climate adaptation in Africa as agreed during the United Nations Climate Change Conference, COP28, held in December in Dubai, United Arab Emirates.