For many countries in the Global South, climate finance remains an elusive thing—desirable, necessary, and beyond reach. The headline figures at climate summits make for gushing headlines; the reality is more of a thin trickle.

Africa receives less than 5 percent of total climate investment worldwide. At around $30 billion a year, this is eight times less than we need to climate-proof our food systems, our energy and transport infrastructure, and our urban and rural environments. Moreover, most climate finance is in the form of loans, rather than grants, which adds to already heavy foreign debt burdens.

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