In 2020, Africa’s GDP contracted by 2.1%, pushing millions of Africans into extreme poverty. In addition, the debt-to-GDP ratio is expected to climb by 10 to 15 percentage points in the short to medium term, reducing the fiscal space available to countries to invest in green recovery. At the same time, progress is being made to ensure that African countries are enabled to meet their commitments under the Paris Agreement.
This report presents the status and trajectory of Nationally Determined Contributions (NDCs) in Africa, outlining the continent’s current trajectory with regard to emissions, resilience and biodiversity. It presents challenges and opportunities with meeting the commitments made under the Paris Agreement, and highlights several areas needing an increased focus from all stakeholders involved in climate change in Africa.
Key recommendations include investing in renewable energy and infrastructure projects, increasing finance flows from developed countries to bankable projects, and unleashing private sector engagement through strengthening private sector engagement drivers and employment of guarantee mechanisms.