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Innovative Climate Finance Accelerating Africa’s Energy Transition

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  • Gifty Baidoo

    (Youth Fellow, Climate Investment Funds)

Abstract

Africa’s energy transition is accelerating through unprecedented innovation in climate finance mechanisms, yet current flows of USD 44 billion annually represent only 23% of the estimated USD 277 billion needed to meet the continent’s 2030 climate goals (Climate Policy Initiative, 2024). The period from 2023-2025 marks a critical inflection point, with climate finance to Africa increasing 48% and renewable energy investment reaching a record USD 15 billion in 2023—more than double 2022 levels (International Energy Agency, 2024). This surge is driven by groundbreaking financing innovations including Just Energy Transition Partnerships, blended finance structures, and expanding carbon market participation, though significant scaling challenges persist around currency risk, debt sustainability, and private sector mobilization.

Suggested Citation

  • Gifty Baidoo, 2025. "Innovative Climate Finance Accelerating Africa’s Energy Transition," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(9), pages 3427-3433, September.
    • Handle: RePEc:bcp:journl:v:9:y:2025:issue-9:p:3427-3433
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