Financing Climate Action in Eastern Africa: Resource streams, gaps and opportunities for sustainable financing
Climate change is having a growing impact on both humans and animals, with its effects being felt around the world. Africa, which contributes less to global warming and greenhouse gas emissions than other continents, is particularly vulnerable to the effects of climate change. Previous studies have shown that there is a gap in financing for climate change initiatives in Africa. African governments have allocated $264 billion in domestic public funds to address climate change, but experts estimate that it will cost $2.8 trillion between 2020 and 2030 to implement Africa's National Determined Contributions to address climate change. This study aimed to evaluate and provide an understanding of the current state of financing for climate change initiatives, specifically in the East African region. The findings serve as a basis for advocating for increased financing for climate change from both governments and development partners, in order to accelerate progress towards global climate goals. Here is a summary of the main findings:
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