Africa-Press – Ghana. Risk allocation, policy certainty and infrastructure readiness were the key themes discussed in a fireside chat on the state of climate finance on the continent at Africa’s Green Economy Summit.
Climate Policy Initiative Managing Director Barbara Buchner emphasised the need for clarity around allocation of risk: “Like [Climate Fund Managers CEO] Andrew Johnstone said, ‘this is part of the ‘return equation’. I think it’s not about not having risk or mitigating risk, it’s about managing risk and allocating those that are most appropriate to take on.”On the importance of coordination, Buchner pointed to the Global Innovation Lab for Climate Finance’s use of regional chapters, where they have seen how connecting entrepreneurs, project managers and asset managers who have good ideas, with appropriate financiers has led to the creation of financial instruments that can unlock private capital investment.
“We’ve managed to design almost 90 instruments over the last 12 years, which have gone on to mobilise $5.4 billion in emerging markets. Innovation is important,” reminded Buchner.
Aguil Deng, Regional Director for the African Network of the Glasgow Financial Alliance for Net-Zero, said she sees an increasing momentum towards taking up the opportunities present by the need for investment in climate action in Africa.
Her experience tells her that it will take coordination, preparation and structure to take advantage of this interest.
Climate finance needs a clear plan
“If you think about… at the country level, with South Africa as an example, you can see how the national plans, the JET-IP, provide a roadmap for investors and others to support the national plan and also mobilise capital.
“Roadmaps like this, where priorities are transited into a very structured pathway, or roadmap, it really gives the clarity that Barbara was talking about in terms of clarity on pipeline and long-term direction.
“As we all are saying, the opportunities are very well-documented and really it’s now about using all the tools, innovating all those tools, but also convening together to turn these ideas and opportunities into actual action,” said Deng.
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Fireside Chat Moderator Deerosh Maharaj, Standard Bank Executive Head for Energy, Infrastructure & Mining, said a key theme he was hearing is “are we financing assets or are we financing systems?“
“I think that’s an integral shift, that we probably want to see and tying back into the theme of integration that is very topical this year. Climate capital is no longer about constrained liquidity, it’s about structure… in Africa, we’ve heard the opportunity is significant,” he summed up the conversation.
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What next for Africa’s investment and finance?
Maharaj thinks Africa is moving into a new phase of climate capital: “The conversations that move beyond ESG into industrial competitiveness… energy security and supply chain resilience are central to this.
“In 2026 and beyond, capital will not simply chase green narratives, it will flow into bankable ecosystems, grids, storage, critical minerals, decarbonised industry and climate adaptation. The real question is not whether money is available, it is whether projects are structured to absorb it,” said Maharaj.
Buchner pointed out that it is not just about the volume of capital, but the quality. “How do we use money most effectively, which comes back to the coordination. It’s time to think beyond the traditional matrix of looking at how much money, to how impactful is the money you are able to mobilise.”
Deng agreed, saying the tools are available and the partners exist: “It’s really about identifying practical, scalable solutions to mobilise capital.”
