At the Africa Impact Summit 2024 in Nairobi, Kenya, the United Nations Development Programme (UNDP) today unveiled the UNDP Africa Investment Insights Report, Third Edition – Climate Opportunities.
An assessment of private sector possibilities with the ability to advance sustainable development in Africa on the levels of the economy, society, and environment is given in the UNDP Africa Investment Insights Report. In addition to describing finance alternatives and providing SDG investment statistics and trends throughout the continent, the paper makes the case for public support of meaningful investments. Based on information from the SDG Investor Maps, the UNDP’s market intelligence tool on investments for the Sustainable Development Goals (SDGs), is released by the UNDP Africa Sustainable Finance Hub (ASFH).
The third version of the report uses market data from sixteen African SDG Investor Maps to highlight investment possibilities connected to climate change. Released in collaboration with UNDP’s Climate Promise, it offers ways for the private sector to use UNDP’s global Climate Promise 2025 and its climate expertise to help African nations’ Nationally Determined Contributions (NDCs) under the Paris Agreement.
More than half of the SDG investment possibilities found in the African SDG Investor Maps support NDCs and contribute to climate action, demonstrating the importance of climate action for the corporate sector, according to the research. The majority of private sector climate possibilities are in the area of adaptation initiatives, with mitigation and dual benefits coming in second.
According to Maxwell Gomera, Director of the UNDP Africa Sustainable Finance Hub, “We turn Africa’s climate challenges into investment opportunities for the private sector through the UNDP Africa Investment Insights Report, in line with the continent’s ambition captured in national NDCs.” The paper draws upon several tested business ideas that may provide substantial financial gains and have a substantial effect on numerous Sustainable Development Goals. As the UNDP, we urge investors to contribute to the realization of prospects for constructive climate action.
Investor and ecosystem members presented success stories of impact-led investments in climate and sustainability during a panel discussion at the report launch. Best practices for SDG and NDC investment activities were covered by speakers from the UNDP, Impact Investing Kenya, AlphaMundi, and FSD Africa Investment. Particular emphasis was placed on how investors may crowd in extra private finance via risk-bearing capital and creative financing tools. The conversation also emphasized how crucial it is for businesses and investors to monitor and control their influence to establish the legitimacy of the private sector’s contributions to the SDGs.
Rosemary Amondi, Chair of the Host Steering Committee and East Africa Regional Director at ANDE said that “the UNDP report is a clear signal to Africa’s investing community to do more to support the continent’s sustainable development progress, utilizing the private sector’s capacities and resources.” As an ecosystem, we need this kind of market data to set expectations for our roles and the potential influence that impact-led economies may have. We express our gratitude to UNDP for their assistance with the Africa Impact Summit and this resource.
The Africa Impact Summit is the premier platform for impact investing through leadership, networking, and deal-making in Africa. It is arranged by the Africa Impact Investing Group, which is made up of Impact Investing National Advisory Boards and country task forces in cooperation with the Global Steering Group on Impact Investing-GSG Impact. Being a Knowledge Partner at the Africa Impact Summit 2024 is a great honor for UNDP. Under the banner of “Accelerating Action for Africa, We Want through Impact Investing,” more than 400 delegates from around Africa and beyond attended.