COP30: AfDB to Champion Africa’s Push for Climate Finance Reform, Just Energy Transition

The African Development Bank (AfDB) is set to take a leading role in championing Africa’s push for major reforms in global climate finance and a just energy transition as world leaders gather in Belém, Brazil, for COP30.

On Wednesday, Brazilian President Luiz Inácio Lula da Silva hosted AfDB President Dr. Sidi Ould Tah in Belém, the city that will welcome nearly 60,000 delegates – including heads of state, climate negotiators, financiers, private sector actors and civil society – at what is anticipated to be the most decisive global climate summit since the 2015 Paris Agreement.

The meeting signaled a deepening Brazil-Africa alliance and reinforced Africa’s growing call for equitable climate financing, particularly for adaptation and resilience. The discussions precede President Lula’s World Leaders Summit on November 6 and 7, marking the first time such a summit takes place before the formal COP negotiations scheduled for November 10 – 21.

Despite contributing less than 4% of global greenhouse emissions, Africa remains home to nine of the world’s most climate-vulnerable nations – yet receives only about 3% of global climate finance. The AfDB is expected to use COP30 to amplify demands for increased and more accessible green financing for developing economies.

During the summit, Dr. Ould Tah will highlight the ecological and strategic significance of the Amazon and Congo Basin rainforests as shared climate stabilizers. He will also participate in the launch of Brazil’s Tropical Forests Forever Fund, a blended-finance initiative connecting the Amazon, the Congo Basin and other African forests under a unified framework of climate solidarity and nature protection.

Furthermore, the AfDB President will issue a call to action on adaptation, resilience, clean energy and financial sovereignty, and address a high-level session on “Climate and Nature: Forests and Oceans” chaired by President Lula. He is also scheduled to hold bilateral talks aimed at helping shape a post-COP30 financing roadmap aligned with his Four Cardinal Points Strategic Agenda.

The AfDB has emerged as a global leader in climate finance innovation. In 2024 alone, the Bank committed $5.5 billion to climate action – nearly half of its total approvals – with 60% of its climate investments in the last decade focused on adaptation. Through the African Development Fund’s Climate Action Window, launched in 2022, it continues to direct financial and technical support toward the 37 least developed African countries most affected by climate change.

As global funding commitments tighten, the Bank’s strategic focus on climate resilience, just energy transitions, nature-based solutions and sustainable infrastructure positions it as one of the most influential institutions shaping the future of climate and development finance.