New Report: At least $132 billion in finance for fossil fuels is locking Africa out of a Just Transition

March 3, 2022By OCI TeamFeatured, Press Releases

Between 2016, following the adoption of the Paris Climate Agreement, and June 2021, public and private financial institutions poured at least $132 billion in lending and underwriting into 964 gas, oil and coal projects in West, East, Central and Southern Africa. The vast majority of this finance came from financial institutions based outside Africa, both commercial banks and public finance institutions like development banks and export credit agencies.