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Côte d'Ivoire: over 13,500 billion Fcfa to finance climate transition



Côte d'Ivoire: over 13,500 billion Fcfa to finance climate transition

The "CAP Green" international forum, organized by the Confédération générale des entreprises de Côte d'Ivoire (CGECI), took place in Abidjan. The theme of this first edition, held at the Maison de l'Entreprise, was "From vision to transition: structuring and accelerating green financing and investment mechanisms". Côte d'Ivoire's Minister of the Environment, Sustainable Development and Ecological Transition, Jacques Assahoré, opened the event, stressing the importance of mobilizing the private sector in climate finance and decarbonizing the Ivorian economy.

Faced with growing climate challenges, Côte d'Ivoire has raised its greenhouse gas emissions reduction target to 30.41% by 2030, by increasing its carbon sequestration capacity and strengthening the country's resilience. A recent World Bank report highlighted the urgency of reducing emissions to limit severe economic impacts by 2050.

Jacques Assahoré also spoke of the need to mobilize $22 billion by 2030 to finance the mitigation and adaptation measures set out in the country's Climate Action Plan. Lamine Koné, vice-president of CGECI, affirmed the commitment of the Patronat Ivoirien to encouraging local businesses to adopt climate-friendly practices.

Christian Fassinou, representative of Africa Energy Transition, co-organizer of the forum, emphasized the role of innovative financial instruments in supporting the energy transition, particularly in the banking, finance and insurance sectors.

The importance of collaboration between the private and public sectors, as well as technical and financial partners, is crucial to the success of this transition to a green economy, making it possible to meet climate challenges while stimulating sustainable economic development in Côte d'Ivoire and Africa.