What's at stake for Africa's climate agenda at COP29 summit?
COP29 in Baku is being billed as a pivotal moment in the race to net-zero emissions.
Stephen Grootes speaks to Msizi Khoza, managing executive for ESG at Absa Corporate & Investment Banking.
Listen to the interview in the audio player below.
World leaders are gathering Baku, Azerbaijan this week for the COP29 summit, with the aim of agreeing a new climate finance target to assist developing nations in their fight against climate change.
At the 2009 climate summit, wealthier nations committed to a sum of $100 billion a year by 2020 to help developing nations adapt to global warming, and to decarbonise its economies.
According to Msizi Khoza, managing executive for ESG at Absa Corporate & Investment Banking, Africa contributes the least to climate change, but is the most exposed to its effects.
Speaking to Stephen Grootes on The Money Show, Khoza says Africa would require $277 billion a year until 2030 to deal with the effects of global warming.
"It's really about developed nations committing to greater levels of climate investment"
- Msizi Khoza, managing executive for ESG at Absa Corporate & Investment Banking
"African nations and governments should be pursuing and pushing very hard for a much more ambitious goal and target, but at the same time we ought to be quite realistic because I think there is a very real possibility that despite this conference being billed as the 'finance COP', it may not live up to expectations."
- Msizi Khoza, managing executive for ESG at Absa Corporate & Investment Banking
"The current climate summit is arguably the most important in the fight for a more climate just world."
- Msizi Khoza, managing executive for ESG at Absa Corporate & Investment Banking
Scroll to the top of the article to listen to the full interview.