Rethinking a new transition finance paradigm for addressing the climate crisis in Africa

Ngoasong, Michael / Z (2021). Rethinking a new transition finance paradigm for addressing the climate crisis in Africa. Climate Compatible Growth Programme, United Kingdom.

URL: https://climatecompatiblegrowth.com/wp-content/upl...

Abstract

Key Messages
• Transition finance vehicles in Africa should aim to transform ‘brown’ (polluting) into ‘green’ (renewable) industries.
• Key instruments include green bonds for specific environmental projects, grants/guaranties to support private investments that target access to energy for the poor, and patient capital investments into growth sectors focused on environmental, social, and governance targets.
• National energy policy should connect innovative market-based solutions (e.g., mini grids) to centralized (e.g., national grid) systems to strengthen governance.

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