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Africa Green Finance Coalition (AGFC)

Africa Green Finance Coalition (AGFC)
In Portfolio since 2022
1 year
Value
Location
Ethiopia, Ghana, Kenya, Morocco, Nigeria, Sudan
Implementation Partners
Various

Project description

By 2030, African nations need to invest $3 trillion to tackle their Nationally Determined Contributions (NDCs) for climate change priorities. Domestic and international public and private climate finance needs to be mobilised at scale and fast.

The Africa Green Finance Coalition is a new initiative designed to fast-track African economies’ political will and efforts to mobilise and invest large volumes of green investment. The AGFC platform will enable African governments to pool resources, share learning and create a pathway for increased domestic and international flows of green investment capital to the continent.

Aiming for a formal launch at COP27 in Egypt, the AGFC platform will enable African governments to collaborate in designing future-proof climate finance regulations, policies, incentives, institutions and investment portfolios at scale.

Target Results

  • Accelerate financial sector reform processes that enable African countries to mobilise green investment capital at scale from domestic and international sources.
  • Promote cross-country peer-to-peer learning and benchmarking on green financing in developing policies, regulations and innovative instruments.
  • Support advocacy and fundraising by African countries on green finance
  • Catalyse substantial technical assistance funding, and eventually investment capital, as regulatory reforms lead to transactions.

Progress to date

  • Successful establishment of the Project Management Office (PMO).
  • PMO attended events at Commonwealth Heads of Government Meeting (CHOGM).
  • Planning and preparation of advocacy activities for Africa climate week and COP 27 underway.

Project Contact

Vimal Parmar
Vimal Parmar
Senior Specialist, Capital Markets

ACV’s impact measurement approach will evolve as we learn more about building businesses in the climate space and partner with new impact investors and actors.


Million
Reduction of 100 million tonnes annually by 2030, at least 30% capture.

Jobs
5000 jobs will be created, protected, and supported with at least 50% women.

Policies
15 Positive policy changes influenced.

 
GBP 34m will be mobilized/catalyzed from the public and private sector for projects designed to address climate change.