Africa Laments Broken Climate Promises, Seeks Private Funds (1)

African leaders chastised developed nations for failing to honor pledges to ramp up green financing and said they will tap the private sector to help protect their economies from climate change.

The provision of climate finance support by developed countries to developing countries is “a legal obligation and not charity, as anchored in the United Nations Framework Convention on Climate Change and its Paris Agreement,” the leaders said in a statement on Wednesday, the final day of the second Africa Climate Summit held in the Ethiopian capital, Addis Ababa.

Residents fetch water from a communal borehole in the Magwegwe township, Bulawayo, Zimbabwe, on Sunday, Oct. 27, 2024 during the worst drought in 40 years.

Photographer: Zinyang Auntony/Bloomberg

While it’s only responsible for around 4% of global greenhouse ...