COP30: African Development Bank to Champion Africa’s Push for Climate Finance Reform and Just Energy Transition
Brazilian President Luiz Inácio Lula da Silva on Wednesday received African Development Bank Group President Dr Sidi Ould Tah in Belém, which is hosting this year’s Conference of the Parties (COP30) to the UN Framework Convention on Climate Change.
The high-profile meeting between the two leaders signaled a growing Brazil–Africa alliance as the Bank leads Africa’s call for greater global climate finance. They focused on mobilizing resources for climate adaptation and resilience. The meeting also comes just before the World Leaders Summit convened by President Lula on 6-7 November. It is the first time a World Leaders Summit is being held before negotiations by the Conference of Parties to the UN Framework Convention on Climate Change.
The leaders’ summit in Belém, at the heart of the Amazon rainforest, will open what is expected to be the most consequential climate gathering since the 2015 Paris Agreement, and comes at a defining moment as nations worldwide strive to keep global warming under 1.5°C.
With nearly 60,000 delegates, including heads of state, climate negotiators, financiers, private sector and civil society leaders converging in Belém, the African Development Bank will be at the forefront of efforts to reignite global ambition for a just energy transition and enhanced climate resilience.
At COP30 negotiations starting from 10 to 21 November, the Bank Group will reaffirm its leadership in advancing Africa’s climate priorities and advocating for a decisive global scale-up of green finance for developing economies.
Africa contributes less than 4% of global emissions yet hosts nine of the world’s most climate-vulnerable countries, while receiving barely 3% of global climate finance.
Summit of leaders ahead of the conference
In Belém, President Ould Tah will highlight the strategic parallels between the Amazon and the Congo Basin, the planet’s two largest tropical rainforests, underscoring their shared role in global climate stability.
The Bank Group’s president will participate in the launch of Brazil’s landmark Tropical Forests Forever Fund, a blended-finance initiative that unites the Amazon, the Congo Basin, and forests across Africa, under a common vision of climate solidarity.
The initiative aligns closely with the Bank’s flagship programmes, including the Congo Basin Forest Fund and its long-standing partnership with the Central African Forest Commission, which reflect its commitment to nature-based solutions, biodiversity protection, and carbon sequestration in line with the Paris Agreement.
During the World Leaders’ Summit, Bank Group President Ould Tah will launch a call to action for Africa on adaptation, resilience, clean energy, and financial sovereignty. He will also address a high-level thematic session on “Climate and Nature: Forests and Oceans,” chaired by President Lula.
In addition, Dr Ould Tah will hold bilateral discussions with government leaders, the private sector and development institutions, to help shape a post-COP30 financial roadmap aligned with his Four Cardinal Points strategic agenda for the Bank Group.
AfDB makes adaptation finance its focus
The African Development Bank Group has established itself as a global leader in climate finance innovation. In 2024, it committed $5.5 billion to climate action, representing nearly half of its total annual approvals – with 60% of investments over the past decade directed toward adaptation.
The Bank’s 2024-2033 Strategy and Dr Ould Tah’s Four Cardinal Points strategic agenda reinforce this focus, prioritising climate-resilient infrastructure, renewable energy, and a just energy transition that aligns Africa’s development goals with a low carbon footprint.
Through its concessional African Development Fund’s Climate Action Window, launched in 2022, the Bank Group is channelling additional finance and technical support to 37 least developed countries, many of which are on the frontline of climate impacts.
At a time when global funding commitments remain constrained, the Bank’s proactive approach has positioned it as one of the most dynamic institutions in climate finance and sustainable development.
The Bank Group’s activities and live updates from COP30 will be featured on its dedicated COP30 microsite and social media platforms.
