African Development Bank, AFDB has committed to providing 25 billion dollars to climate finance by 2050, as part of efforts to accelerate action on climate adaptation.
President of the financial institution, Femi Adeshina, made this known on the second-day of the African Climate Summit, being held at The Kenyatta International Convention Centre, Nairobi, Kenya.
To harness Africa’s potential in renewable energy, Adeshina called for the combination of natural gas and renewable energy to provide energy in the continent.
He added that this combination would only contribute 0.5 per cent to global emissions.
The African Climate Summit is aimed at setting Africa’s agenda for the Conference of Parties for the 28th annual meeting of members of the UNFCCC, scheduled to hold in Dubai, United Arab Emirates, from November 30 to December 12, 2023.