Summit aims to catalyse investments, partnerships to combat climate change

The African Union (AU) “Scaling Up Green Investments to Address Climate Change” roundtable taking place at Africa’s Green Economy Summit in Cape Town next month offers AU member states and high-level stakeholders the opportunity to explore the potential of green investments and funding instruments to combat climate change on the continent.

The roundtable is hosted by the AU in collaboration with the Global Green Growth Institute (GGGI), the United States Agency for International Development (USAID) through the Comprehensive Action for Climate Change Initiative (CACCI), and the Global Affairs Canada‘s Department of Foreign Affairs, Trade and Development. Stakeholders attending the event include government representatives, private sector actors, investors, policymakers and experts.

Representatives from selected AU member countries – Senegal, Cote d’Ivoire, Ethiopia, Rwanda, Namibia, Zambia and Lesotho – will be in attendance, as well as three regional economic bodies: South African Development Community, the Common Market for Eastern and Southern Africa, and the East African Community.

Africa’s Green Economy Summit, which will be held from 21 to 23 February 2024, is centred around connecting the global investment community with investment prospects in Africa’s green economy space.

“Africa’s Green Economy Summit a vital link between global capital and sustainable projects in the continent. The summit unites investors, project leaders and policymakers, fostering connections and paving the way for an inclusive green economy and a sustainable future for all,” says Josefa Leonel Correia Sacko, Commissioner for Agriculture, Rural Development, Blue Economy and Sustainable Environment, African Union Commission, Ethiopia.

“Canada is proud to collaborate with the African Union to promote green and sustainable projects. The roundtable will explore innovative investment approaches and advocate policy changes to encourage green investment in African Union member states,” says Ambassador Ben Marc Diendéré, permanent observer to the AU and United Nations Economic Commission for Africa.

The “Scaling Up Green Investments to Address Climate Change” roundtable will focus on key themes including climate compatible investment opportunities, impact measurement, sustainable finance strategies, public-private partnerships, climate policy and climate risk management. The roadmap and outcome of the roundtable will be accompanied by formal ‘pledging’ announcements.

The roundtable forms part of the AU’s Green Recovery Action Plan (GRAP) programme that was launched in 2022 to tackle the combined challenges of the COVID-19 recovery and climate change. GRAP’s aims include promoting green initiatives, enhancing resilience to climate change and supporting AU member states to bolster finance and investment in sustainable projects – a green economic transformation that requires the support of public and private investors.

“The USAID–funded Comprehensive Action for Climate Change Initiative bridges what countries seek to address climate change and where private sector resources can support those goals. This summit is an incredible opportunity to strengthen and widen that bridge, bringing more efficient dialogue on ways forward with the right mix of stakeholders,” says John Heermans, deputy project developer for CACCI, Abt Global.

“GGGI’s involvement enhances this connection, enriching the summit with valuable insights, strategic guidance and a commitment to catalysing green initiatives that will shape a more sustainable tomorrow for Africa and the world,” says Dr Mallé Fofana, Africa director & head of programmes at the GGGI, Côte d’Ivoire.

Africa’s Green Economy Summit consists of a two-day summit and connecting platform, a pitch programme and a project and innovation showcase, as well as an experiential day. It offers a showcase of investable African projects, access to investors, interaction with governmental and city officials, and the opportunity to obtain a deeper understanding of Africa’s green economy landscape, its challenges and opportunities.

The full programme to date can be viewed here.