The amount of climate finance in Africa falls dramatically short of what is needed to implement Nationally Determined Contribution (NDCs) in the region. CPI estimates Africa’s climate finance needs at an average of USD 250 billion annually from 2020-2030, which must be provided by private and international public investors (CPI 2022a).
This paper is the output of an exercise that aims to build the foundation for future work by the Cities Climate Finance Leadership Alliance (the Alliance) through a structured approach to analyze the challenges and priorities relevant to cities in decarbonizing the buildings sector.
Sharp and rapid reductions in methane emissions this decade are essential to limiting global warming to 1.5°C. While carbon dioxide has a longer lasting effect, methane has 80 times the warming power of CO2 in the first 20 years after emissions reach the atmosphere, meaning methane is setting the pace for near-term global warming.
Investment in urban climate projects is urgently needed worldwide. Cities hold most of the global population and economic activity and contribute approximately three-quarters of the global greenhouse gas (GHG) emissions, underlining the urgent need for projects to reduce emissions in urban areas and increase climate resilience.
Electricity access remains a significant global challenge, with only incremental progress made to date towards achieving Sustainable Development Goal 7 (SDG7) – access to affordable, reliable, sustainable and modern energy
To understand how to accelerate investments in energy-efficient buildings, a systematic assessment of current investment flows is needed. This can help identify the challenges and entry points to scale investments, while also measuring year-to-year progress.
The 2021 edition of Climate Policy Initiative’s Global Landscape of Climate Finance provides the most comprehensive overview of global climate-related primary investment. Total climate finance has steadily increased over the last decade, reaching USD 632 billion in 2019/2020, but flows have slowed in the last few years.