Sub-Saharan Africa is the region least responsible for global climate change and most vulnerable to its impacts. A multitude of actors are involved in directing climate finance to the region, both to support low-carbon development and to help countries adapt to the severe impacts that are already being felt. This year the Green Climate Fund (GCF) became the biggest cumulative multilateral climate fund active in the region, followed by the Least Developed Countries Fund (LDCF) and the World Bank administered Clean Technology Fund (CTF). For those funds tracked, CFU data indicates that USD 4.5 billion has been approved for 665 projects and programs throughout Sub-Saharan Africa since 2003. Almost half of the approved funding from these multilateral climate funds has been provided for adaptation measures. Grant financing continues to play a crucial role, especially for adaptation actions, in ensuring that climate actions secure multiple gender-responsive benefits for the most vulnerable countries and population groups.
This is a 2018 update of Climate Finance Fundamentals Brief #7.