Climate finance growing
Global climate finance – public and private, international and domestic – had now reached a little over $1.9-trillion a year, Climate Policy Initiative (CPI) USA Global MD Dr Barbara Buchner has highlighted at the Africa Green Economy Summit 2026, at the Century City Conference Centre in Cape Town. She was participating in a panel discussion.
"For the first time, private climate finance has crossed the $1-trillion threshold," she pointed out. "That's a good sign."
CPI has been tracking climate finance for 15 years. It is, however, still concentrated in certain regions and on certain sectors.
In Africa, climate finance now stands at $50-billion a year, which is only 25% of what CPI think is needed. But the growth in climate finance for the continent is encouraging.
There is a lot of opportunity for domestic climate finance in Africa. For example, pension funds. Mechanisms to spread and mitigate risk exist and need to be scaled across the continent.
Renewable energy is a real opportunity in Africa. But that is not only about power generation, it is also about transmission grids. There are, in fact, a lot of opportunities.
Private investors needed clarity about revenue streams from climate projects, she pointed out. They also needed clarity on facilitating regulatory frameworks.
CPI was seeking to develop ways to unlock private finance in developing countries, to mobilise local finance for climate projects. Innovation in developing climate finance instruments, she affirmed, was important!
"It's not only about how much money is flowing, but [also] the quality of the money," she stated. "How impactful is the money?"
Nevertheless, the outlook for climate finance is up. "Money will flow in 2026!"
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