Arab Press

بالشعب و للشعب
Tuesday, Feb 03, 2026

African nations demand climate change financing ahead of COP27

African nations demand climate change financing ahead of COP27

The African continent emits only some 3 percent of global CO2 emissions, yet is among the most exposed to climate change.

The leaders of two dozen African countries have urged wealthier nations to uphold their aid pledges so the continent can tackle climate change effects for which it shares little blame.

African ministers made their call in a communique at the close of a three-day forum in the Egyptian capital Cairo on Friday and two months before Egypt hosts the crucial COP27 climate conference in Sharm El-Sheikh in November.

We urge “developed countries to fulfil their pledges in relation to climate and development finance, and deliver on their commitments to double adaptation finance, in particular to Africa,” the 24 leaders said in a closing statement.

The African continent emits only some three percent of global CO2 emissions, former UN chief Ban Ki-moon noted this week.

And yet African nations are among those most exposed to the effects of climate change, notably worsening droughts and floods.

The African leaders said the financial aid was needed in view of “the disproportionate impact of climate change and nature loss on the African continent”.

Africa not only has a “low carbon footprint”, they said, but it also plays a key role in capturing greenhouse gases, including in the Congo Basin, which is home to the world’s second-largest tropical rainforest after the Amazon.



‘Abrupt disinvestments from fossil fuels’


The communique urged rich countries to meet and expand climate pledges, and said poor countries should be able to develop economically while receiving more funds to adapt to the effects of climate change.

The document stressed “the need to avoid approaches that encourage abrupt disinvestments from fossil fuels, as this will … threaten Africa’s development”.

The role of gas in the transition to cleaner energy is set to be a key point of contention at COP27. Climate activists say it needs to be quickly phased out and replaced with renewables.

But, Nigerian finance minister Zainab Ahmed told the Cairo forum that gas was a matter of survival for her country.

“If we are not getting reasonably-priced finance to develop gas, we are denying the citizens in our countries the opportunities to attain basic development,” she said.




The communique also called for focusing on climate change in a review of multilateral development banks and international financial institutions. It suggested the creation of a sustainable sovereign debt hub that could reduce the cost of capital for developing states and support debt-for-nature swaps.

Funding to help poorer countries curb their emissions and strengthen their resilience will be a key issue at COP27.

A longstanding goal for developed countries to spend $100bn a year from 2020 on helping vulnerable nations adapt to climate change remains unmet.

According to the African Development Bank, the continent will need as much as $1.6 trillion between 2020 and 2030 for its own efforts to limit climate change and to adapt to the adverse effects that are already apparent.

Kevin Chika Urama, chief economist at the African Development Bank, said Africa faced a climate financing gap of about $108bn each year.

“Climate finance structure today is actually biased against climate-vulnerable countries. The more vulnerable you are the less climate finance you receive,” he said.

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
AI Invented “Hot Springs” — Tourists Arrived and Were Shocked
Erdoğan’s Saudi Arabia Visit Focuses on Trade, Investment and Strategic Cooperation
Germany and Saudi Arabia Move to Deepen Energy Cooperation Amid Global Transition
Saudi Aviation Records Historic Passenger Traffic in 2025 and Sets Sights on Further Growth in 2026
Tech Market Shifts and AI Investment Surge Drive Global Innovation and Layoffs
Global Shifts in War, Trade, Energy and Security Mark Major International Developments
Tesla Ends Model S and X Production and Sends $2 Billion to xAI as 2025 Revenue Declines
The AI Hiring Doom Loop — Algorithmic Recruiting Filters Out Top Talent and Rewards Average or Fake Candidates
Federal Reserve Holds Interest Rate at 3.75% as Powell Faces DOJ Criminal Investigation During 2026 Decision
Putin’s Four-Year Ukraine Invasion Cost: Russia’s Mass Casualty Attrition and the Donbas Security-Guarantee Tradeoff
Saudi Crown Prince Tells Iranian President: Kingdom Will Not Host Attacks Against Iran
U.S. Central Command Announces Regional Air Exercise as Iran Unveils Drone Carrier Footage
Trump Defends Saudi Crown Prince in Heated Exchange After Reporter Questions Khashoggi Murder and 9/11 Links
Saudi Stocks Rally as Kingdom Prepares to Fully Open Capital Market to Global Investors
Air France and KLM Suspend Multiple Middle East Routes as Regional Tensions Disrupt Aviation
Saudi Arabia scales back Neom as The Line is redesigned and Trojena downsized
Saudi Industrial Group Completes One Point Three Billion Dollar Acquisition of South Africa’s Barloworld
Saudi-Backed LIV Golf Confirms Return to Trump National Bedminster for 2026 Season
Gold Jumps More Than 8% in a Week as the Dollar Slides Amid Greenland Tariff Dispute
Boston Dynamics Atlas humanoid robot and LG CLOiD home robot: the platform lock-in fight to control Physical AI
United States under President Donald Trump completes withdrawal from the World Health Organization: health sovereignty versus global outbreak early-warning access
Trump Administration’s Iran Military Buildup and Sanctions Campaign Puts Deterrence Credibility on the Line
Tech Brief: AI Compute, Chips, and Platform Power Moves Driving Today’s Market Narrative
NATO’s Stress Test Under Trump: Alliance Credibility, Burden-Sharing, and the Fight Over Strategic Territory
Saudi Arabia’s Careful Balancing Act in Relations with Israel Amid Regional and Domestic Pressures
Greenland, Gaza, and Global Leverage: Today’s 10 Power Stories Shaping Markets and Security
America’s Venezuela Oil Grip Meets China’s Demand: Market Power, Legal Shockwaves, and the New Rules of Energy Leverage
Trump’s Board of Peace: Breakthrough Diplomacy or a Hostile Takeover of Global Order?
Trump’s Board of Peace: Breakthrough Diplomacy or a Hostile Takeover of Global Order?
Trump’s Board of Peace: Breakthrough Diplomacy or a Hostile Takeover of Global Order?
Trump’s Board of Peace: Breakthrough Diplomacy or a Hostile Takeover of Global Order?
Prince William to Make Official Visit to Saudi Arabia in February
Saudi Arabia Advances Ambitious Artificial River Mega-Project to Transform Water Security
Saudi Crown Prince and Syrian President Discuss Stabilisation, Reconstruction and Regional Ties in Riyadh Talks
Mohammed bin Salman Confronts the ‘Iranian Moment’ as Saudi Leadership Faces Regional Test
Cybercrime, Inc.: When Crime Becomes an Economy. How the World Accidentally Built a Twenty-Trillion-Dollar Criminal Economy
Strategic Restraint, Credible Force, and the Discipline of Power
Donald Trump Organization Unveils Championship Golf Course and Luxury Resort Project in Saudi Arabia
Inside Diriyah: Saudi Arabia’s $63.2 Billion Vision to Transform Its Historic Heart into a Global Tourism Powerhouse
Trump Designates Saudi Arabia a Major Non-NATO Ally, Elevating US–Riyadh Defense Partnership
Trump Organization Deepens Saudi Property Focus with $10 Billion Luxury Developments
There is no sovereign immunity for poisoning millions with drugs.
Mohammed bin Salman’s Global Standing: Strategic Partner in Transition Amid Debate Over His Role
Saudi Arabia Opens Property Market to Foreign Buyers in Landmark Reform
The U.S. State Department’s account in Persian: “President Trump is a man of action. If you didn’t know it until now, now you do—do not play games with President Trump.”
CNN’s Ranking of Israel’s Women’s Rights Sparks Debate After Misleading Global Index Comparison
Saudi Arabia’s Shifting Regional Alignment Raises Strategic Concerns in Jerusalem
OPEC+ Holds Oil Output Steady Amid Member Tensions and Market Oversupply
Iranian Protests Intensify as Another Revolutionary Guard Member Is Killed and Khamenei Blames the West
President Trump Says United States Will Administer Venezuela Until a Secure Leadership Transition
×