Brazilian President Luiz Inácio Lula da Silva met with African Development Bank Group President Dr. Sidi Ould Tah in Belém, ahead of the Conference of the Parties (COP30) to the UN Framework Convention on Climate Change. The meeting highlighted a growing alliance between Brazil and Africa, with a focus on mobilizing resources for climate adaptation and resilience.
The World Leaders Summit, convened by President Lula on November 6-7, will precede the COP30 negotiations, marking the first time such a summit has taken place before the Conference of Parties. The summit aims to reignite global ambition for a just energy transition and enhanced climate resilience, with the African Development Bank playing a key role.
COP30, which will take place from November 10 to 21, is expected to be the most consequential climate gathering since the 2015 Paris Agreement. The African Development Bank will reaffirm its leadership in advancing Africa’s climate priorities and advocating for a global scale-up of green finance for developing economies. Africa contributes less than 4% of global emissions but hosts nine of the world’s most climate-vulnerable countries, receiving barely 3% of global climate finance.
During the World Leaders’ Summit, Dr. Ould Tah will launch a call to action for Africa on adaptation, resilience, clean energy, and financial sovereignty. He will also address a high-level thematic session on “Climate and Nature: Forests and Oceans,” chaired by President Lula. The African Development Bank has established itself as a global leader in climate finance innovation, committing $5.5 billion to climate action in 2024, with 60% of investments over the past decade directed toward adaptation.
The Bank’s 2024-2033 Strategy and Dr. Ould Tah’s Four Cardinal Points strategic agenda prioritize climate-resilient infrastructure, renewable energy, and a just energy transition. The Bank’s concessional African Development Fund’s Climate Action Window, launched in 2022, channels additional finance and technical support to 37 least developed countries, many of which are on the frontline of climate impacts.
As COP30 approaches, the African Development Bank’s proactive approach has positioned it as one of the most dynamic institutions in climate finance and sustainable development. The Bank’s activities and live updates from COP30 will be featured on its dedicated COP30 microsite and social media platforms, providing a valuable resource for those following the conference. With nearly 60,000 delegates converging in Belém, the outcomes of COP30 will be closely watched, as nations worldwide strive to keep global warming under 1.5°C.