The Africa Green Finance Coalition (AGFC) has been announced at the UN Climate Change Conference (COP26) in Glasgow, Scotland to spur the trillions of dollars in green investment needed to transform Africa’s economy.
The initiative aims to accelerate green finance policy and regulatory reform to attract private capital at scale, both from international and domestic investors.
The Africa Green Finance Coalition is a network of 43 African countries transformed as a dynamic platform for peer learning and capacity building in the area of green finance policymaking and regulation.
Co-chaired by Seyni Nafo, Mali, and a representative of the Government of Kenya Treasury, this will greatly enhance Africa’s ability to source green investment capital from international funds and from domestic institutional investors.
A peer review mechanism will act as the accountability mechanism to ensure progress is sustained, and it will be formally launched in Africa at COP27.
Stakeholders have currently gathered at the ongoing COP26 being hosted in Glasgow, UK.