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Africa Green Finance Coalition (AGFC)

Overview

Abstract

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.

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.

Project Details

Project Title

Africa Green Finance Coalition (AGFC)

Implementing Partner

Various

Donor(s)

FSD Africa

Value (in £)

TBC

Implementation Period

2022-2023

Countries Covered

Pan-African

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

  • 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.

Contact

Updated: October, 2022