Extreme heat is no longer a future climate risk; it is already affecting economies, livelihoods, and communities across Africa. Building resilience will require more than ambition; it will require investment, innovation, and strong partnerships.
As such, the African Climate Foundation (ACF) and the European Bank for Reconstruction and Development (EBRD) signed a Memorandum of Understanding (MoU) during London Climate Action Week. The MoU establishes a framework of cooperation to advance climate adaptation and to mobilise climate-resilient investment in mutually agreed countries across Africa.
“This collaboration with EBRD is an important step in addressing Africa’s pressing climate resilience needs.” noted Saliem Fakir, ACF’s Executive Director.
Under the MoU, the two organisations will work to strengthen the evidence base and market intelligence for adaptation and heat resilience investments; improve the enabling environment through policy dialogue, stakeholder engagement, and capacity-building. The agreement further allows the acceleration of the development of investment-ready projects and pipelines, and mobilise public, philanthropic, and private capital at scale by connecting upstream research, project preparation, and investor engagement.
As a first step, ACF and EBRD will collaborate on strengthening the market for heat resilience technologies, with a particular focus on local micro, small and medium enterprises (MSMEs).
With Senegal as an example, according to Potsdam Institute for Climate Impact Research, rising temperatures pose a growing economic threat to the region: the share of GDP exposed to heatwaves is projected to rise from 3.8% in 2000 to as much as 14.4% by 2080 under a high-emissions scenario, underscoring the urgency of building markets for cooling and heat-resilience solutions that can protect livelihoods and economic activity.
“We’re excited to partner with EBRD on supporting climate adaptation and resilience in West Africa. We believe the pilot collaboration in Senegal will support not only local heat resilience but also create green jobs, improve local market competitiveness, and showcase the benefits of bringing together the strengths of our respective institutions,” said Iva Detelinova, ACF’s Senior Advisor on International Cooperation and Africa-Europe Lead.
For this reason, ACF will continue to build a better understanding of local needs, market demand, and opportunities for local manufacturing of heat resilience solutions, while engaging policymakers and other key stakeholders. EBRD’s technical expertise will help identify investment opportunities, and support outreach to investors, partners, and potential clients to ensure the findings translate into tangible impact.
“This partnership with ACF reflects our shared ambition to accelerate the market for climate adaptation, particularly heat resilience. By combining our expertise, we can help shape the policies, partnerships and financial solutions that enable businesses to adapt, remain competitive and seize new opportunities in a changing climate. As EBRD expands its work in Sub-Saharan Africa, this collaboration will help build more resilient, dynamic markets and mobilise greater private investment where it is needed most,” said Gianpeiro Nacci, Managing Director Climate Strategy and Delivery at EBRD.
As a next step, ACF will publish a Request for Proposals on “Developing the Heat Resilience Technology Market in Senegal.” The bidding process, and the subsequent work of the successful candidate, will be overseen by a joint ACF-EBRD committee, with the intention that the research findings will inform future actions under this pilot initiative.
