Africa50 Joins Low Carbon Financing Network at COP22

On November 16, 2016 during COP22, Africa50 CEO Alain Ebobisse participated in the conference “Domestic Savings in the Service of Low Carbon Development and Climate Change Resilience,” organized by the Caisse de Depot et de Gestion (CDG) of Morocco. Hosted by the President of COP22, Salaheddine Mezouar, the Foreign and Development Minister of Morocco, the event brought together top officials from state investment banks, development institutions and governments from Benin, Tunisia, Gabon, Senegal, Mauritania, Ivory Coast, Burkina Faso, Morocco, Nigeria, and France. Roundtable discussions focused on the financial climate in Africa and mobilizing African savings for low carbon development.  

Attendees signed a declaration creating a network of African investors dedicated to low carbon climate finance. Africa50 joined the CDG and other African Caisses de Depot, the Nigerian Public Pension Fund (PENCOM), the Nigerian private equity fund VEROD, and the French Agency for Development (AFD), in committing to mobilizing domestic savings for climate change adaptation and mitigation projects. The network is also open to non-African donors, notably development banks, commercial banks, and investment funds.