Africa is, therefore, the continent most exposed to climate change, but also the most fragile. However, the continent faces a huge challenge: the difficulty of raising green funds even though the mechanisms exist. For example, in the carbon credit market, the continent has only raised 2% of its potential and 1% of green bonds according to the Economic Commission for Africa. So what role can banks play in mobilising these green funds? Economist Georges Vivien Hougbonon believes that "as Africa industrialises, it can embark on renewable energy in its industrialisation process.

Source: The North Africa Journal May 18, 2023 17:07 UTC