Particle.news

Download on the App Store

African Climate Summit in Addis Ababa Presses Rich Nations to Close Climate Finance Gap

Leaders say vulnerable countries face $395 billion in annual adaptation needs with only a fraction of pledged loss-and-damage money available.

Overview

  • The African Union is hosting its second continental climate summit through September 10, bringing together more than 45 heads of state to unify Africa’s negotiating stance.
  • Only $361 million has been made available out of $789 million previously pledged for loss-and-damage payments to vulnerable countries.
  • An OxfamIGAD analysis finds IGAD states received about $1.7 billion per year in 2013–2022 in equivalent grants, 96% below the $41.8 billion they say they need annually.
  • The World Meteorological Organization reports 48 of 53 African countries face flood risk and 40 face drought risk, with climate hazards costing 2–5% of GDP each year.
  • African leaders and NGOs argue the continent produces roughly 4% of global emissions and call on high emitters to fund adaptation and accept responsibility under a climate justice framework.