Adaptation finance, a core component of post-COVID-19 economic recovery

It is well known that cities in Africa are some of the most vulnerable in the world, and for them to become more climate resilient, a significant amount of funding is required to enable climate change adaptation. However, Africa is the region that has received the lowest proportion of climate change finance to date.

In 2016 as little as 4,1 % (USD 19 billion) of global climate finance flowed to Africa. Of the funds that are directed to African countries, very little flows to the city-level, where climate change impacts are felt, and most is allocated to climate change mitigation, not adaptation, despite adaptation being a major priority in Africa. As cities deal with the current COVID-19 pandemic and develop plans on how to recover, there is an opportunity to re-think development and make sure plans offer solutions that build resilience from a health perspective but also strongly consider climate change adaptation.

Finance for climate change adaptation is thus more critical than ever. Enjoy this webinar video made with city leaders and key experts to discuss what barriers African countries and cities face in accessing finance for climate change adaptation, and some of the innovative adaptation finance mechanisms that have been used to enhance the flow of adaptation finance to African cities.

Compilation of additional resources in English, French, and Portuguese aligned with this webinar:

Key Investments Can Build Resilience to Pandemics and Climate Change. A WRI blog showcasing ideas about investments in COVID-19 response and in climate change resilience. – English

Why local government finance is essential to the COVID-19 response. A podcast on which measures local governments can deploy to address financial challenges – English

Local governments responses COVID-19. This blog series explores the various responses, in particular the financial actions, of local governments against COVID-19 – English

Which role can public procurement play towards more resilient cities?. Sustainable public procurement can enable public authorities to build resilience of supply-chains and the built environment – English

WEBINAR – Crescimento sustentado: desafios da recuperação verde. A urgência de retomar o crescimento é uma oportunidade ou uma ameaça à transição para uma economia de baixo carbono? Quais setores e tecnologias deveriam merecer maior atenção para compatibilizar a urgência da retomada e os requisitos da sustentabilidade? Como financiar a “retomada verde”? – Portuguese

La Banque africaine de développement place un emprunt obligataire social, « Combattre le COVID-19 », d’un montant record de 3 milliards de dollars. Une opération historique, la plus importante émission obligataire sociale libellée en dollars américains à ce jour sur les marchés de capitaux – French

NIGERIA : le pays lance sa 3e obligation verte pour financer plusieurs initiatives. Le gouvernement fédéral du Nigeria a annoncé le lancement imminent de la troisième tranche de son programme d’obligations vertes. Celle-ci est destinée au financement de plusieurs projets verts à travers le pays. – French

Covid-19 et inclusion financière : ce que les précédentes crises peuvent nous apprendre.  L’impact sanitaire et économique de la pandémie de Covid-19 est sans précédent. Toutefois, les crises antérieures offrent des leçons précieuses sur la manière dont les chocs sanitaires et économiques peuvent perturber les services financiers pour les pauvres. – French

Upcoming study: Finance Roadmaps for Climate Projects. Under the Covenant of Mayors in Sub-Saharan Africa initiative, GIZ aims to provide LGs in SSA with practical roadmaps of action steps that they can proactively undertake to facilitate the financing and implementation of climate projects. – English

Etude à venir : Feuilles de route de financement pour les projets climatiques. Dans le cadre de la CoM SSA, la GIZ a pour mission de soutenir les GL d’Afrique Sub-Saharienne, notamment en leur fournissant des feuilles de routes d’actions. Ces dernières, réalisées afin de faciliter le financement et la mise en œuvre de projets climatiques, peuvent ainsi être mises en pratique par les GL de manière proactive. – French