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 What does the African continent expect from COP28’s climate finance agenda?

COP28 is coming up in the UAE and there are a number of themes that I am sure will be at the top of the agenda for Africa and other Global South stakeholders. 

One of these is the shortfall in financing. So we are many, many billions of dollars short of the quantum of commitment that has been made by wealthier and more historically polluting nations towards less wealthy nations. 

And in a time where debt sustainability is a big issue that Global South governments are contending with, it is important that we start to get a sense of where the money might come from and what types of financing structures we can tangibly expect to see going forward. 

So will there be any major financing arrangements announced, for example, Just Energy Transition Partnerships, as we have seen for South Africa in the last couple of COPs. Will we exceed concessional financing arrangements, blended finance structures that have been much touted but we have not seen many examples of that, multilateral development institution deals, and so on, and to what extent will the use of funds in those arrangements actually match with what Global South countries actually feel they need for things like adapting to climate change, improving energy access for their populations and managing debt sustainability?

So really looking forward to COP28 and looking forward to seeing what comes out of it and whether or not we can address or start to address some of these big questions.