As part of efforts to accelerate action on climate adaptation, the President of African Development Bank, Femi Adeshina, on Tuesday, said the finance institution has committed to providing $25bn to climate finance by 2050.

He stated this on the second day of the African Climate Summit, being held at The Kenyatta International Convention Centre, Nairobi, Kenya.

The African Climate Summit is the first of its kind in Africa and it is centred on green growth and climate finance to seek a prosperous, carbon-free Africa.

The summit is aimed at setting Africa’s agenda for the Conference of Parties for the 28th annual meeting of members of the UNFCCC, scheduled to hold in Dubai, United Arab Emirates, from November 30 to December 12, 2023.

The AfDB president added that this combination would only contribute 0.5 per cent to global emissions.

“We cannot power Africa with potential. We must truly unlock Africa’s renewable energy potential. That is why the Africa Development Bank is implementing $20bn to harness the power of solar and deliver electricity to 250 million people.

“We must power every home, school, and hospital and provide stable, affordable and reliable power. But we must be pragmatic, Africa must use its natural gas and combine it with renewable energy”, he said.

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