AfDB Champions Climate Resilience at Africa’s Green Economy Summit
The African Development Bank (AfDB) reaffirmed its commitment to Africa’s green transition at the third edition of Africa’s Green Economy Summit (AGES) held from February 18-21, 2025, in Cape Town.
Under the theme “Building a Climate-Resilient Africa: Catalysing Investment and Innovation in the Green and Blue Economies,” the summit gathered policymakers, private sector leaders, and experts to discuss strategies for advancing sustainable growth across the continent.
AfDB officials emphasized the need for climate finance, green industrialization, and resilient infrastructure to address Africa’s climate challenges. Speaking at the event, Dr. Anthony Nyong, Director of Climate Change and Green Growth at AfDB, called for a tripling of Africa’s climate finance and greater investment in adaptation strategies, noting that adaptation currently receives less than 10% of global climate finance flows.
The summit also highlighted the blue economy, advocating for better utilization of Africa’s water resources to foster sustainability. Experts underscored the urgency of public-private partnerships to mobilize funding, with Barbara Buchner, Global Managing Director of Climate Policy Initiative, stressing that only 18% of Africa’s climate finance comes from the private sector—significantly lower than in other regions.
As a platinum sponsor, AfDB showcased its Climate Change and Green Growth Framework (2021-2030) and led discussions on carbon markets in Africa, demonstrating how stable carbon pricing can unlock funding and support climate-smart initiatives.
The summit concluded with a call to action for African nations to implement policy reforms that encourage green investments and sustainable development, positioning Africa as a global leader in the transition to a low-carbon economy.
