Africa stands at a critical juncture in the face of climate change. Despite contributing less than 4% to global greenhouse gas emissions, the continent is exceedingly vulnerable to climate impacts.

This dialogue underscores the critical need for integrated, cooperative multilateral approaches to tackle some of Africa's most pressing climate challenges.

As per the UNEP Adaptation Gap Report 2023, Africa's adaptation costs are estimated to rise to $50 billion annually by 2050, if the global temperature increase is kept below 2°C.

Rapid urbanization in Africa poses both challenges and opportunities for climate resilience. According to UN Habitat, African urban areas will be home to an additional 950 million people by 2050. Integrating climate resilience into urban planning and development is crucial to manage risks and leverage opportunities for sustainable growth.

The significant shortfall in climate finance for Africa, necessities innovative financing solutions and increased investments from public and private sectors to bridge the gap.

The World Bank's "State of Climate Finance" report (2022) indicates that current climate finance flows are significantly below the levels needed to achieve low-carbon, resilient development globally. For Africa, this gap is particularly pronounced.

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The urgent need for ambitious climate action extends beyond developing countries, encompassing all nations. Enhanced cooperation and a new approach to climate diplomacy are essential.

Held on “Industry Day”, the event aims to :

• Recall the industry and private sector's role in climate diplomacy and empowerment for least developed countries
• Reshape conversations, renew commitments, and promote developing countries and LDCs as hubs for innovation, sustainable technologies, and innovative financing
• Emphasizes the importance of technology empowerment and financial innovation in building resilience and achieving the Sustainable Development Goals outlined in the 2030 Agenda for a more sustainable future.

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The event aims at examining the interlinkages between development finance and climate finance, with the motive that ensuring alignment between the two is an urgent matter that will boost the realization of the Agenda 2030 goals, as well as the Paris Agreement.

This Leadership Dialogue aims to:

• Examine how climate-related finance supports the implementation of the SDGs.
• Conduct in-depth discussion on the existing and persistent challenges to access finance for development and climate financing.
• Explore alternative funding mechanisms to fund climate action and development goals, while ensuring that it is guided by recipient countries’ priorities.
• Capitalize on the COP27 Presidency initiative “Friends of Greening National Investment Plans in Africa and Developing Countries” that was launched on the margins of COP27.

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The Global Commission on Adaptation estimates an annual investment of $1.8 trillion to $2.4 trillion globally in climate-resilient infrastructure by 2030. Africa faces a significant financing gap of $68 billion to $108 billion per year, according to the African Development Bank. Greening public investments in crucial sectors can accelerate SDGs and Paris Agreement goals, fostering economic dividends, job creation, and resilience against climate risks.

Held on “Finance Day”, the Leadership Dialogue will explore pathways for African and developing countries, sub-regional, regional and international organizations, financial institutions, and the private sector to:

• Efficiently develop the tools and methodologies needed to accelerate sustainable infrastructure investments
• Design policies and incentives,
• Attract financing opportunities – including private finance – and,
• Encourage public-private-partnerships for a climate resilient world.

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According to the IEA, investment in unabated fossil fuel supply and projects is set to rise by more than 6% in 2023. Yet, energy security and access for developing countries are worsening with dire consequences for health, education, food and water security, migration, and ultimately global security.

Held on “Energy Day” the Leadership Dialogue will explore:

• Technologies and innovations to develop renewable energy systems including green hydrogen as a flexible energy vector.
• Opportunities and challenges for developing countries for the production and use of clean energy technologies.
• Policies and financing required to fast track solutions and boost demand.

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Big Data on the environment is essential to our understanding of the state of the world environment and the production of science-based tools for decision-making by governments, investors, industries and consumers, among others.

Held on “Digital Day”, the Leadership Dialogue will explore:

• What has been done so far in the development of a Global Environmental Data Strategy (GEDS) – including support and data integrations and analysis at the national level, and role of WESR.
• Gaps, priorities, and opportunities for action in climate data.
• Elements related to legislation, equity, democracy and transparency related to the technology use and the equitable sharing of Big Data products and services.

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Biomass cultivation, mineral and fossil resource extraction, and processing to materials, fuels and food accounted for more than 55% of global greenhouse gas emissions in 2022 and more than 60% if greenhouse gas emissions from land-use change are considered. The emissions related to these processes have increased when compared to 2015 when the Paris Agreement was signed, demonstrating that climate mitigation efforts have so far focused too little on resource-related impacts.

This session will elaborate on why solutions based on the sustainable management of natural resources can be some of the most effective in delivering on the Paris Agreement and must be considered as countries ramp up ambitions for action. Preliminary findings from the International Resource Panel’s Global Resources Outlook (forthcoming, UNEA-6) identify that resource management strategies including sustainable consumption and production, circular economy and resource efficiency can help to reduce CO2 emissions by more than 80 per cent by 2060 while still delivering wellbeing and economic growth for all. Strategies for action across housing, mobility, energy and food systems, as well as a central focus on justice and equity, will be discussed based on the findings of the report.

The session aims to present:

• Findings from IRPs upcoming GRO and especially those related to resource-relate strategies for ramping up ambitions are shared with participants.
• Examples of resource-related perspective for climate action from country representatives are shared.
• Participants are empowered with the knowledge to understand why and how a resource perspective can contribute to ramping up national action for climate change.

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