Determining climate finance needs in developing economies is critical to identify financing gaps and opportunities to guide stakeholders to effectively access, allocate and mobilize climate finance. Such data supports international policy processes, like the determination and implementation of a new collective and quantified goal on climate finance and accelerates action. The process of estimating needs also helps in assessing the effectiveness of climate finance flows
This brief, part of the State of Climate Finance in Africa series, draws attention to the amount of climate finance, in aggregate, that African countries report they need to implement their nationally determined contributions (NDCs), based on the latest NDCs submitted by 53 countries in the region. It also provides a more detailed analysis of the funding gap that African countries are likely to face without more concerted and better targeted interventions by donors and investors, and highlights emerging best practice regarding needs assessment methods and processes.
The brief is intended to provide an overview of today’s state of play; more exhaustive assessments and analyses would be needed, especially at the national level, to provide a comprehensive financing roadmap for African countries.