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Glasgow Financial Alliance for Net Zero

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GFANZ Africa Network, Africa Development Bank Announce Climate Action Partnership.

The Glasgow Financial Alliance for Net Zero (GFANZ), the world’s largest coalition of financial institutions committed to the goal of net zero by 2050, announces a new partnership with the African Development Bank to support climate action by financial institutions across the continent. On the margins of the Africa Climate Summit in Nairobi, Kenya, the parties signed a Letter of Intent outlining the partnership.  GFANZ and the African Development Bank will collaborate through the GFANZ Africa Network and the African Financial Alliance on Climate Change (AFAC), to support the African financial sector to accelerate climate finance for low carbon investments in the region. AFAC will convene working groups to improve climate data access, climate risk analyses and disclosures, climate target-setting and capacity building for transition planning and finance. GFANZ Africa and AFAC will share tools, resources and joint engagements with the financial sector, and collaborate with partners, including UNEP-FI, the Global Centre for Adaptation, and FSD Africa. As part of the close collaboration between the organizations, Dr. Timothy Afful-Koomson, Chief Climate Finance Officer of the African Development Bank, will serve as Director of the GFANZ Africa Network. He will work with Dr. Mahmoud Mohieldin, Chair of the GFANZ Africa Network Advisory Board, to drive the progress of GFANZ Africa and deliver on the Africa Board’s priorities. GFANZ and AFAC will also have cross board representation and Solomon Quaynor, African Development Bank Vice President for the Private Sector, Infrastructure and Industrialization is now on the GFANZ Africa Board. The GFANZ Africa Board will also be represented on AFAC's Steering Committee. https://www.dailynewsegypt.com/2023/09/07/gfanz-afdb-partnership-enhances-africas-capability-to-face-climate-finance-challenges-mohieldin/

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22 more agrees trigger contact with the recipient

  • George Kariuki

    39 w

    This is a positive development for the continent's sustainable development and climate resilience.

    4
    • Ann Nyambura

      39 w

      Together they can mobilize the necessary resources to accelerate Africa's green transition.

      1
      • winnie nguru

        39 w

        The kind of partnerships we love to see and be a part of

        1
        • Kevin

          39 w

          Superior partnerships on here

          3
          • Hilda Wangui

            39 w

            Great partnerships toward sustainable energy

            3
            • Joseph Githinji

              39 w

              This is an important partnership towards the drive to a sustainable future.

              13
              • Gorffly mokua

                39 w

                This is inspiring.💚 We are heading somewhere.

                2
                • Princess

                  39 w

                  It's inspiring to see organizations coming together to take meaningful action and address the urgent climate crisis. Collaboration and commitment like this give us hope for a more sustainable future! 🌍🌿

                  14
                  Welcome, let's solve the climate crisis together
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