Africa








Fossil Fuels

Environment

Environment

The oldest climate fund in the world targets wildlife bonds to every country in Africa

Global Environment Facility (GEF), the oldest multilateral climate change fund in the world, plans to issue a new round of wildlife conservation bonds as a way to assist African countries with saving endangered species and eco-systems. In 2022, the World Bank backed rhino bond was the first of many wildlife bonds that provide low-cost funding in exchange for reducing poaching and other measures. Last month, the GEF approved a conservation plan for lemurs in Madagascar. Fred Boltz is the head of programming for the GEF which is affiliated with the World Bank. He told African environment ministers on the sidelines...

Environment

G20 Finance chiefs meet in South Africa under a tariff cloud

South Africa called on G20 nations to show global leadership and cooperation to address challenges, including the rise in trade barriers. The club's finance chiefs were meeting Thursday under the shadows of President Donald Trump’s tariff threats. The G20 has been hindered for years by disagreements among the key players, which have been made worse by Russia's conflict in Ukraine and Western sanctions against Moscow. Under its motto of "Solidarity. Equality. Sustainability", the host South Africa has sought to promote an African agenda. Topics include high capital costs and funding for climate action. Enoch Godongwana, South Africa's finance minister, said...

Environment

G20 Finance chiefs meet in South Africa under a tariff cloud

The G20 finance chiefs are meeting in South Africa this Thursday, under the shadow cast by President Donald Trump’s tariff threats. Questions will be raised about their ability to work together and tackle global challenges. Since years, the club has been hampered by disagreements among its key players, exacerbated in part by Russia's conflict in Ukraine and Western sanctions against Moscow. Under its motto of "Solidarity Equality Sustainability", the host South Africa has sought to promote an African agenda. Topics include high capital costs and funding climate change action. The G20 is a group that aims to coordinate policy, but...

Environment

Ghana's cocoa regulator warns production will drop due to heavy rains

Ghana's cocoa regulator stated on Tuesday that prolonged rain and lack of sunlight can lead to an increase in disease incidence, which could cause a moderate decline in production. This comes after farmers asked for government intervention to reduce the impact of bad weather. The West African nation, the second largest cocoa producer in the world, saw its output drop in previous seasons because of diseases, bad weather and illegal gold mining. These factors destroyed cocoa plantations, reducing yields. Last week, an association of Ghanaian farmer warned that the cooler temperatures and excessive rain combined with the lack of sunlight...

Pollution

Report: World faces up to $39 trillion of economic losses due to disappearing wetlands

According to a report released by the Convention on Wetlands on Tuesday, the destruction of wetlands around the world, which are vital for fisheries, farming and flood control could result in a loss of $39 trillion by 2050. According to an intergovernmental report, 22% of freshwater systems, such as rivers, lakes and peat lands, and coastal marine ecosystems, including mangroves, coral reefs and coastal systems, have disappeared since the 1970s. This is the fastest rate of loss for any ecosystem. The declines are a result of pressures such as land-use changes, pollution, agricultural expansions, invasive species and climate change impacts,...

Environment

The world's largest climate fund increases investment plans

The largest multilateral climate fund in the world said that it would make its biggest ever investment and accelerate dealmaking to help poorer countries respond to global warming. Green Climate Fund shareholders, including the United States, approved a plan this week to release $1.2 billion in funding for 17 projects mainly in Asia and Africa. This comes against a turbulent political background that has seen aid cuts. In a report published in June, the OECD stated that official development assistance may fall by 17% in this year, after a 9% decline in 2024. This is due to President Donald Trump's...

Environment

Sources say that BRICS will launch a guarantee fund to boost investments in member nations.

Two people with knowledge of the matter said that the BRICS group is about to announce a new fund to reduce financing costs and increase investment. Sources who spoke on condition of anonymity said that the initiative is modeled after the Multilateral Investment Guarantee Agency, or MIGA, which was established by the World Bank to help address global investment shifts in the face of uncertainty regarding U.S. policy. Brazilian officials consider the fund to be the focal point of the BRICS' financial agenda for the duration of Brazil's rotating presidency. Sources claim that the fund will be included in the...

Environment

US rejects UN summit, but global leaders vow development push

The first ever summit of its kind began in Seville on Monday in scorching temperatures, with the world leaders increasingly under pressure to reduce poverty and limit Climate change Other key development goals are increasingly in danger. U.N. Chief Antonio Guterres stated that the event was intended to "repair and rev up" an international system in which "trust is fraying, and multilateralism has been strained." This was a jab at the most notable absence from the conference - U.S. president Donald Trump. The world's biggest economy and its traditional largest aid donor, refused to take part in the conference after...

Pollution

UN tries to salvage Global Development Summit after US boycott

Next week, scores of world leaders are expected to bask in the sun of southern Spain at the once-a decade United Nations Development Financing Summit aimed at curbing poverty and disease around the globe as well as the worst threats of climate changes. The United States' decision to not attend the event earlier this month, the largest aid donor and major financier in the world, casts a chill over the event. UN countries are trying to fill a funding gap of $4 trillion per year, which they estimate is preventing the developing world from achieving Sustainable Development Goals. These goals...

Environment

What can the UN development conference in Seville achieve?

On Monday, global leaders will launch the once-a decade Conference on Financing for Development in Seville, Spain. The conference aims to improve world aid and financial infrastructure. On the agenda are ambitious reforms ranging from global taxation to climate-focused financing. What will the event be, who will be there, and what is it intended to achieve? What is it? The fourth conference will bring together leaders in the fields of finance, politics and trade to develop a coherent strategy to address global issues ranging from debt to aid. Leaders will adopt a 38 page document, dubbed "Seville Commitment", which had...

Carbon Emissions

Britain, Kenya and Singapore lead a campaign to increase company demand for carbon credits

Britain, Kenya, and Singapore launched a coalition to encourage companies to purchase carbon credits. The guidelines are aimed at buyers. Carbon market experts describe this as the strongest policy support for such markets yet. Carbon market proponents have been trying to create a market to buy and sell credits that companies can use to offset their emission for decades. Corporate buyers are still hesitant despite the fact that nations agreed on a U.N. backed system at the COP29 conference in Baku. On Tuesday, Britain, France Kenya, Singapore, and Panama announced their intention to reach an agreement on a set of...

Carbon Emissions

Brazil will push for climate targets from local governments and corporations at the COP30

Brazil, the COP30 President, proposed on Friday that pledges of emissions reductions be expanded to include companies, states and cities. This was to bolster climate efforts after the U.S. withdrew from the Paris Agreement. Brazilian diplomats working on the climate summit are working closely with U.N. officials to encourage countries to submit revised targets for reducing greenhouse gas emissions before September. Many missed the deadline of February. In the Paris Accord, where almost all countries agreed to limit global warming to 2 degrees Celsius or less from pre-industrial levels by 2050, it is required that these targets be submitted and...

Mining

Mining

Burgundy Diamonds cuts employees in Canada due to falling diamond prices

Burgundy Diamond Mines, an Australian company, has laid off hundreds of employees and contractors at its Point Lake mine in Canada and suspended operations due to the record-low prices for diamonds. A spokesperson from the company said this on Thursday. The Ekati mine includes the Point Lake site, located in Canada's Northwest Territories. Burgundy says its remote Arctic site is still operational. Burgundy Diamond Mines has decided to suspend the open pit mining operation at Point Lake. This is a short-term shift away from surface mining operations, said Ariella Calin. Point Lake is not economically viable with global diamond prices...

Mining

Stellantis increases production capacity in Morocco

Stellantis, a car manufacturer in Morocco, plans to double its production capacity in the next few months at its Kenitra plant to 535,000 cars annually, said its Chief Operating Officer for the Middle East & Africa on Wednesday. Samir Cherfan, at the opening of the expansion of the plant, said that the plant would increase production of supermini-electric cars, including the Citroen AMI, Opel Rocks e and Fiat Topolino, to 70,000 units from 20,000. Aziz Akhannouch, the Moroccan Prime Minister, said that the 1.2 billion euros ($1.4 billion) of expansion will raise the local sourcing to 75% in 2030. This...

Mining

South African auto exports to the U.S. plummet as Trump tariffs bite

The South African auto exports to the United States fell sharply in 2025's first quarter, and dropped more than 80% between April and May, after tariffs imposed on imports by U.S. president Donald Trump affected automakers sales, said industry association naamsa. South Africa's largest trading partner and the main destination for South African vehicles, the United States has long enjoyed duty-free access through the U.S. African Growth and Opportunity Act. naamsa reported that auto exports to the U.S. fell 73% during the first quarter compared with the same period in 2013. This was followed by drops of 80% in March,...

Mineral Resources

Climate Change

Climate Change

Poor nations barred from summits by tighter borders

Visa denials hinder Global South participation key summits Africans will lose $70 million in 2024 due to rejected European visas Global South is excluded from decisions By Lin Taylor The 24-year-old stayed at home after spending hundreds of dollars, nearly two months, and preparing for a Visa that was denied within 48 hours. Her peers, mainly from the Global North flew to Bonn with no problems. She said, "Knowing that everyone is at Bonn but you aren't there because of your nationality makes you feel bad. It feels like I am less than them," from her home in Middle East....

Climate Change

South Africa's Kganyago insists Africa's G20 Agenda despite tariffs, Bessent's absence

Lesetja Kganyago, the South African Reserve Bank Governor, said that a "African Agenda" including climate changes and cross-border payments systems is still to be discussed by G20 Finance Chiefs despite fears that tariffs will overshadow this gathering. The U.S. Treasury secretary Scott Bessent missed the G20 Finance Meeting in Durban. This was his second consecutive absence and raised questions about G20's ability to address pressing global challenges. The African agenda was also promoted by Ramaphosa, who used the first G20 presidency of Africa to push for the African agenda. Kganyago said that the African issues had been raised, and all...

Climate Change

How to build schools for extreme heat without air conditioning

Heat can threaten children's education Air conditioning fuels global warming Passive cooling is the new trend among architects Emma Batha Kere, who had studied abroad for many years, returned to his village after completing his studies to build an airy and light school that would allow children to learn comfortably in temperatures as high as 45 degrees Celsius. The architect from Berlin did not use the air conditioner. He incorporated cooling features in Gando Primary School, which he has applied to other projects throughout Africa. Kere is one of many architects who are pioneering sustainable designs for schools in a...

Climate Change

The G20 in Durban will be shadowed by BRICS tensions and the absence of BRICS

The G20 Finance Chiefs' meeting in Durban this week is likely to be overshadowed by Donald Trump's tariffs, Scott Bessent's no-show, and the rising tensions between Washington, South Africa, and BRICS. Bessent was among the key officials who skipped Cape Town's February gathering of finance and central bank ministers in the grouping. This raised questions about their ability to address pressing global challenges. Josh Lipsky is the chair of International Economics at the Atlantic Council. He said, "It's problematic that the world's biggest economy is not represented, at least on a high political level." Lipsky said that Bessent’s absence presaged...

Climate Change

At the Spain Summit, global leaders address poverty and climate goals

On Monday, a once-in-10-year summit began in Seville as world leaders are under increasing pressure to speed up progress on poverty reduction. Climate change The Sustainable Development Goals are at greater risk of failing. The U.N. Chief, Antonio Guterres said that the event was intended to "repair and rev up" an existing system of cooperation in which "trust is fraying, and multilateralism has been strained." The U.S. president Donald Trump was notably absent from the summit, which had been attended by more than 50 leaders of the world. This is because the leader of the largest economy in the world...

Climate Change

Demands for debt cancellation and climate action by protesters ahead of UN summit

On Sunday, activists marched through Seville, southern Spain, in scorching heat, demanding debt cancellation, climate justice, and taxing super-rich people on the eve a UN summit about financing development, which critics claim lacks ambition. The four-day summit, held every ten years, promises to tackle poverty and disease by defining the global framework for sustainable development. The United States' decision not to attend the summit and the shrinking appetite of wealthy countries for foreign aid has dampened expectations that it will lead to significant changes. Greenpeace members sat on a globe and carried a float that depicted Elon Musk, the billionaire,...

Climate Change

London Climate Week receives a boost as Trump policies weigh down on New York event

London's Climate Week attracted a record number of attendees, which was boosted by the cloud that hung over its sister event held in New York last September. The U.S. Government has turned its back on global warming efforts and tightened entry requirements. London Climate Action Week, which concludes on Sunday, has more than doubled its size compared with the 2024 edition. It now hosts 700+ events, and over 45,000 participants. Two dozen sources from business, politics and civil society said that the UK's stronger stance on climate change and its support for visitors coming from developing countries helped. "We are...

Climate Change

New Barbados bond bolsters push for disaster debt pause clauses

Barbados issued a bond to help pay off its IMF loan, and free up some money. It also gives it two years fiscal breathing room if the country is hit by severe hurricanes, floods, or even an epidemic of COVID proportions. If it is well received, this could set a precedent for normalising the so-called climate resilient clauses in debt that have been lukewarmly accepted since they were introduced in recent years due to a perception that they might increase borrowing costs. Barbados' $500 million bond replaced an existing one. It is the first international bond of a "benchmark" size...

Climate Change

South Africa's leading banks pass the first climate stress test, but data gaps are identified

The six South African systematically important banks that are deemed to be the most significant passed the first climate-risk stress tests of the central bank. However, the exercise revealed some modelling shortcomings as the institutions had not fully incorporated climate-risk indicators in their frameworks. Losses on the long-term could be hidden by gaps. The central bank releases a bi-annual review of the financial system every two years. The latest edition of the review was released on Friday. Six banks, Absa Capitec FirstRand Investec Nedbank Standard Bank of South Africa Standard Bank of South Africa used the climate-scenario models from the...

Climate Change

Mozambique: Hunger is a problem because no one helps the children

Mozambicans are in need due to drought and conflict USAID cuts put strain on charities and households UN warns about 'children's crisis' By SAMUEL COME Nobody brings food, clothes and blankets anymore to her camp in Pemba city, where she's lived for five years, ever since she fled the rebel attack on Macomia, a northern town, five years ago. "They used to help us for a long time but they have now left us." "Everyone manages on their own, we don't receive food or clothing, and no one supports the children any longer," she said. Omar and the other families...

Climate Change

Zimbabwe issues permits to cull at least 50 elephants

Wildlife authorities in Zimbabwe said that they have issued permits for the culling of at least 50 elephants from a reserve with three times as many elephants as it can support. Zimbabwe Parks and Wildlife Management Authority stated in a press release that the Save Valley Conservancy, in southern Zimbabwe, is home to approximately 2,550 elephants. However, it only has "carrying capacities" for 800 elephants. In the last five years, the conservancy has already relocated 200 elephants from its reserve to another reserve to control elephant numbers. The meat from the cull is distributed to the locals for consumption, and...

Energy Markets

African Development Bank launches carbon credit support facility

Senior bank officials announced on Thursday that the African Development Bank would launch a carbon market support facility to help unlock financing for a region that is increasingly affected by climate-change related droughts and hurricanes. Africa's largest multilateral lender said that the Africa Carbon Support Facility will be divided into two components. The first component helps governments create policies and regulations for carbon trading. The second component focuses on increasing the supply and demand of credits, as well as improving the market infrastructure necessary to increase their usage. Anthony Nyong said at the AfDB annual meeting that "we envision a...