African governments and businesses have been urged to address funding barriers preventing climate commitments from translating into projects across the continent.
The call came on Tuesday, at the fourth Africa Climate Forum conference, themed “Implementing in Lockstep: Public-Private Action for Green Outcomes,” where stakeholders discussed challenges affecting climate finance and project implementation.
The convener and Director-General of the Global Centre for Law, Business and Economy, Professor George Nwangwu, said Africa needed to prioritise renewable energy, climate-smart agriculture, resilient infrastructure and sustainable cities.
“The real measure of climate ambition is not the number of commitments we make, but the outcomes we deliver,” Nwangwu said.
According to him, floods, droughts, food insecurity and environmental degradation continued to threaten African communities, while millions of people lacked reliable electricity and clean cooking facilities.
Nwangwu identified high financing costs, currency risks, regulatory uncertainty and limited access to long-term capital as major obstacles to investment in climate projects.
He said the forum’s Deal Room would bring project developers together with investors, financial institutions, technology providers and public authorities to explore funding opportunities.
The Founder of Avocado Holdings, Dr Oge Funlola-Modie, represented by Chioma Ibeh, said climate action was closely linked to food security, energy access and economic growth.
She called for communication to be incorporated into climate policies from the outset, saying public understanding and participation were important to their implementation.
The Director of the Environmental Management Department, Fred Odika, who represented the Minister of Regional Development, Abubakar Momoh, called for increased climate financing and investment in nature-based solutions.
Odika urged governments, development partners and private investors to establish clear commitments and partnerships for implementing climate projects.
The United Nations Industrial Development Organization (UNIDO) called for better project preparation and clearer arrangements for sharing financial risks between governments and private investors.
In a message delivered by Programme Manager Reuben Bamidele on behalf of Regional Director Philibert Ambaka Johnson, UNIDO cited Nigeria’s Programme for Country Partnership, valued at approximately 175 million dollars, in discussing collaboration on industrial development.
Johnson said Nigeria’s Global Cleantech Innovation Programme supported three cohorts of clean-technology startups between 2022 and 2024, attracting more than 17 million dollars in investment and creating over 7,000 jobs.
He also cited a Nigerian battery-recycling project designed to process about 5,000 tonnes of lithium-ion batteries annually and create nearly 100 jobs.
The Chief Investment Officer of the Presidential Initiative on Compressed Natural Gas and Electric Vehicles, Jide Awolowo, said expanding cleaner transport in Nigeria required investment in infrastructure, accessible financing and supportive government policies.
At a panel discussion on journalism, climate action and civic space engagement, speakers called for accurate climate reporting, the use of indigenous languages and stronger efforts to counter misinformation.
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