ACS2 : the challenge of climate financing

Africa, the continent most vulnerable to the impacts of climate change despite its low contribution to global emissions, finds itself once again at the center of the global debate in Addis Ababa. The summit, organized by the Ethiopian government and the African Union (AU), aims to accelerate climate solutions and promote resilient and green development. Ethiopian Prime Minister Abiy Ahmed emphasizes: “With ACS2, Africa can demonstrate that we are not just aid seekers; we are innovators and partners in global climate transformation.”

An Estimated Financing Need of $100 Billion per Year

The summit’s agenda focuses on three priorities: climate financing, African technological solutions, and the implementation of commitments made at the first Nairobi summit in 2023. According to the African Development Bank (AfDB), the continent faces an estimated financing need of $100 billion per year to adapt its infrastructure, secure agriculture, and invest in renewable energy. Part of this funding could come from the Green Climate Fund (GCF), but the gap remains huge: only $30 billion were mobilized for Africa between 2020 and 2024, according to the UN climate report.

With ACS2, Africa can demonstrate that we are not just aid seekers; we are innovators and partners in global climate transformation.

The issue of financing is at the heart of the discussions. “African countries need strong guarantees and innovative financing mechanisms to turn our climate ambitions into tangible actions,” explains H.E. Mahamoud Ali Youssouf, Chairperson of the AU Commission. ACS2 aims to catalyze public-private partnerships and attract private investments in key sectors such as agroecology, solar energy, and resilient urban infrastructure.

Innovative Solutions Made in Africa

The summit will also serve as a platform to showcase concrete African initiatives. Ethiopia, the host country, highlights its Green Legacy program and its investments in renewable energy, notably hydroelectric projects such as the Renaissance Dam. Rwanda and Kenya will present their experiences in delivering climate services through technology and digitization. These examples show that Africa already possesses innovative solutions, but mobilizing large-scale capital remains a major challenge.

African countries need strong guarantees and innovative financing mechanisms to turn our climate ambitions into tangible actions

In addition to financing, the summit addresses regional coordination and climate sovereignty. “To reduce the continent’s vulnerability, we must work together, harmonize our policies, and set up monitoring mechanisms to ensure that each commitment is translated into concrete results,” emphasizes Kate Hampton, CEO of the Children’s Investment Fund Foundation (CIFF). The stakes are immense: Africa must reconcile economic growth, food security, and emissions reduction.

The ACS2 summit is not limited to statements: it is designed as a catalyst for concrete actions, encouraging African states to mobilize local and international financing, strengthen climate governance, and leverage technological solutions adapted to the continent. With more than 100 speakers and 45 heads of state, the event is also expected to strengthen Africa’s role in global negotiations ahead of COP30.

The Second Africa Climate Summit is a decisive moment for the continent. The main challenge remains Africa’s ability to turn its ambitions into real investments, reduce its vulnerability, and make the climate transition a driver of sustainable development. The outcomes of this summit will have a direct impact on the continent’s credibility and its ability to attract private and public financing for sustainable solutions.