By Henry Neondo
Africa is staking its claim as a leader in global climate action, closing the Second Africa Climate Summit (ACS2) in Addis Ababa late Wednesday with multi-billion-dollar financial pledges and groundbreaking initiatives aimed at powering locally-led climate solutions.
The three-day summit, hosted by Ethiopia in partnership with the African Union under the theme “Accelerating Global Climate Solutions: Financing for Africa’s Resilient and Green Development”, ended with the adoption of the Addis Ababa Declaration on Climate Change and Call to Action, positioning Africa not as a passive victim of the climate crisis but as a driver of solutions and a catalyst for the global green economy.
Africa Pushes for Climate Finance Justice
A central message echoed across the summit was Africa’s demand for fairness in climate finance. Leaders stressed that adaptation funding is a legal obligation of the developed world, not an act of charity, and must come in the form of grants, not loans that worsen Africa’s debt burden.
A key breakthrough was the operationalisation of the long-awaited African Climate Change Fund, backed by the African Development Bank. The facility will channel green bonds and innovative financing tailored to Africa’s realities, correcting decades of imbalance in global climate finance flows.
In addition, African heads of state united in demanding urgent reform of multilateral development banks to reduce borrowing costs and expand Africa’s voice in global financial governance.
The summit delivered several high-profile announcements including aUSD50 billion will be mobilised annually through the new Africa Climate Innovation Compact (ACIC) and African Climate Facility (ACF), spearheaded by Ethiopia’s Prime Minister Abiy Ahmed.
The initiative targets 1,000 African climate solutions in energy, agriculture, water, and resilience by 2030.
Further, African financial institutions including AfDB, Afreximbank, Africa50, and AFC signed a cooperation framework to operationalise the Africa Green Industrialisation Initiative (AGII), with $100 billion earmarked for renewable energy, sustainable industries, and green growth.
At the Summit, the Government of Denmark pledged $79 million for agricultural transformation, while Italy reaffirmed its $4.2 billion pledge to its Climate Fund, with 70% devoted to Africa, and signed an MoU with Ethiopia to unlock new investments.
In addition, the Africa Adaptation Acceleration Program (AAAP) 2.0 launched, seeking $50 billion by 2030 to strengthen food systems, infrastructure, and urban resilience while the European Investment Bank (EIB) signed technical assistance agreements with Ethiopian banks as part of its plan to support €100 billion in climate investment by 2027.
The Mission 300 Agenda and Clean Cooking Initiative were advanced, aiming to give 300 million Africans access to modern energy and 900 million to clean cooking solutions within the decade.
Africa’s Climate Economy Vision
Beyond finance, leaders called for Africa’s share of global renewable energy investments to increase from 2% today to at least 20% by 2030, reflecting its potential as a renewable powerhouse. They also endorsed a Green Minerals Strategy to ensure that Africa’s cobalt, lithium, and rare earths fuel not just global clean energy supply chains but also local beneficiation and industrialisation.
The summit also launched the Africa Just Resilience Framework (JRF) and the Climate Justice Impact Fund for Africa (CJIFA), which has already supported 64 grants in 17 countries to strengthen community-driven adaptation.
Building Momentum for COP30
With over 25,000 delegates, 240 side events, and dozens of financing commitments, ACS2 showcased Africa’s growing influence in shaping the global climate agenda. Leaders made clear that the Addis Ababa outcomes will feed directly into COP30 in Belém, Brazil, where Africa is determined to push for scaled-up finance and structural reforms to deliver climate justice.
“Africa has proven it can convene, lead, and deliver outcomes that resonate globally,” Ethiopian Prime Minister Abiy Ahmed said in his closing remarks. “The next phase is ensuring these commitments translate into action on the ground.”