Speaker Urges Tripling of Adaptation Finance, $1.3 Trillion a Year for Developing Countries by 2035

An unidentified speaker addressing the African Union called climate action a central priority, saying "the science is unequivocal" and warning the planet will overshoot the 1.5°C limit. The speaker urged that any overshoot be made "as small, short, and safe as possible" and said adaptation must be a priority for the continent.

The speaker said the G20 accounts for "close to 80% of global emissions" and must deliver major reductions this decade. They noted Africa has "60% of the world's best solar potential" but receives only about "2% of global clean energy investments," arguing that Africa can become a clean energy powerhouse if investment flows increase.

On finance, the speaker called for developed countries to triple adaptation finance and said the international community must mobilize roughly $1.3 trillion a year for developing countries by 2035, citing an agreement referenced in Baku. The address also called for scaling up loss and damage funds and accelerating a just, orderly, and equitable transition from fossil fuels to renewables.

The speaker urged that African countries "benefit first and fully from their critical minerals through fair, sustainable value chains and manufacturing," and referenced recommendations of a United Nations panel on critical energy transition minerals.