Africa is proof that investing in climate resilience works – and that it makes good business sense

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Africa is proof that investing in climate resilience works. The continent’s leading initiative in this area – the Africa Adaptation Acceleration Programme (AAAP) – has already channelled more than $15bn to strengthen essential systems against climate shocks. These funds are helping to secure the adaptability and livelihoods of nearly 60 million vulnerable people in 40 countries. Almost one million jobs have been created in the process.

Kenya was the first country in Africa to adopt a National Adaptation Plan. Its dependence on rain-fed agriculture, which accounts for a large proportion of livelihoods and economic activity, makes it especially vulnerable to droughts and floods.

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This resilience dividend is real. It would be even greater if funding for climate adaptation matched Africa’s needs. The Global Center on Adaptation estimates these needs at more than $50bn a year, whereas actual funding is only a fraction of that. Most climate finance comes from multilateral development banks, with hardly any private-sector involvement.

This is a shame because there are huge opportunities. The Global Center on Adaptation, through its dual headquarters in Rotterdam and Nairobi, is ensuring that adaptation solutions are co-created where they are needed most. The World Economic Forum estimates the market for climate adaptation solutions could be as much as $2tn a year.

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