African Development Bank (AfDB) with Fund for African Private Sector Assistance (FAPA) in partnership with Natural Eco Capital will host a Consultative workshop on Scaling Climate Action through Technology and Innovation by SMEs for Green Investment in Africa.
The Workshop Objectives:
- Present the draft climate screening and assessment toolkits with their guidelines developed in support of the SMEs in Africa, AfDB and FAPA members to the relevant stakeholders.
- Validate and re-inform the tools and associated training materials with views obtained from the stakeholders to ensure more robust toolkits that meet and align the needs of the SMEs in Africa, AfDB and FAPA members.
Date: July 6, 2020
Time: 10.00am – 12.30pm GMT
WHERE: Please click here to register. The meeting link can be accessed here
ZOOM PASSWORD: 30202678
Speakers:
- Al-Hamdou Dorsouma: Manager, Climate Change and Green Growth Division – African Development Bank
- Gareth Phillips: Manager, Climate and Environment Finance Division – African Development Bank
- Eugene Itua: CEO, Natural Eco Capital
- Belynda Petrie, Climate Risk Expert – Natural Eco Capital
- Adeojo Jubril: Climate Finance Expert – Natural Eco Capital
- Moses Braimah: Communication Expert – Natural Eco Capital (Moderator)
Context
The Climate Change and Green Growth Department (PECG) of AfDB received a grant from the Bank’s Fund for African Private Sector Assistance (FAPA) to finance the project “Private Sector Investment Initiative for Nationally Determined Contributions (NDCs) in Africa”. This project has an overall goal to “enable Africa’s private sector participation in climate-related investments that support the implementation of the Nationally Determined Contributions (NDCs) in Africa” under the Paris Agreement.
Under the grant, Natural Eco Capital is supporting the Assignment titled ‘Scaling climate action through technology and innovation by SMEs.’ This assignment is specifically focused on the design and development of climate risk screening and assessment tools for green investment to be used by the African SMEs, AfDB and FAPA members. This will address some of the key constraints faced by the SMEs in their support of the various African countries’ Nationally Determined Contributions (NDCs) and especially, in their participation in the climate/clean technology sector.
All 54 African countries signed the Paris Agreement on climate change. At least 44 African countries have submitted their Nationally Determined Contributions (NDCs) as part of their commitment to keep global warming below 2oC. It is estimated that the implementation of NDCs will require investments of about USD 3 trillion by 2030. Projections indicate that about 75% of this investment will come from the private sector, that is largely made up of the SMEs. By all accounts, engaging the private sector which includes the SMEs in climate-smart investments is seen as a cornerstone to grow climate business opportunities in Africa and thus supporting the various countries to meet their NDC targets.
