The banking community and project developers gather at the Climate Finance and Investment Forum in West Africa to mobilize investment for regional projects

The banking community and project developers gather at the Climate Finace and Inverstment Forum in West Africa to mobilize investment for regional projects

Lomé, 3 June 2014 – Representatives of public and private financial institutions, project developers, national regional government institutions and civil society gathered over two days at the "Climate Finance & Investment Forum in West Africa" to discuss how to facilitate and enhance the finance of climate change mitigation and adaptation activities in the region.

The Forum attracted more than a 100 participants for a two-day programme of presentations, project developers–financiers match-making sessions and exhibitions. The forum was opened by the Minister of Agriculture, Livestock and Fisheries, H.E, Mr. Ouro Koura Agadazi, the Vice President of BOAD Mr.  Bassary Toure, whose speeches offered a powerful demonstration of commitment to combat severe climate change impacts on populations and the environment through the mobilization of climate finance.

The Forum, which took place at the BOAD headquarters in Lomé, was co-organized by the United Nations Framework Convention on Climate Change (UNFCCC), Banque Ouest Africaine de Développement (BOAD), the United Nations Environment Programme (UNEP) and the UNEP Risoe Centre.

As Mr. Toure said, “Lomé has become a key player in the region, with regards to development and climate finance through the presence of BOAD, ECOWAS (EBID) and now with the UNFCCC Regional Collaboration Centre of Lomé.”

The Forum was the first of its kind and marked the successful establishment and commitment of the UNFCCC Regional Collaborating Centre (RCC) in Lomé in partnership with BOAD.

The RCC aims to provide direct support to CDM stakeholders in the development of their CDM activities, including projects, Programmes of Activities and Standardized Baselines. The RCC also focuses in identifying new projects, raising awareness about the CDM and climate change issues as well as developing targeted capacity-building activities both at the national and regional level. 

"The RCC workplan for 2014 aims to strengthen those activities tailored to reduce some of the barriers and uncertainties that the CDM project developers are facing. The forum has demonstrated that funding opportunities are available and the RCC can help to mobilize them in collaboration with other agencies," said Luca Brusa of the UNFCCC.

Participants had the opportunity to hear about the latest developments in the international climate change negotiations and the global framework for climate finance and investment. Presentations also provided insight into current activities and services offered by public and private finance institutions present in the West African region. 

“The development of carbon assets in Africa is challenged by the current lack of progress in the international climate change negotiations, but a few programmes from bilateral and multilateral donors have come to the rescue while we are waiting for larger, broader and more efficient approaches to evolve. We feel encouraged by the massive interest recorded here in Lomé and are confident that the new and upcoming concepts of Nationally Appropriate Mitigation Actions, New Market Mechanisms and national carbon markets will inspire, and be inspired by, the people and institutions that we have met here,” said Søren Lütken of the UNEP Risoe Centre, a collaborating centre of the United Nations Environment Programme.

Furthermore, more than 20 project developers from 10 countries  provided the audience with first-hand testimony of the numerous endeavors already taking place all over West Africa, in areas such as energy-efficient cookstoves, small scale and larger scale solar technologies, waste management to energy, and afforestation/reforestation. 

For more information, please contact:

David Abbass, UNFCCC, CDM-press(at)unfccc.int

Mette Amelie Ramussen, UNEP Risoe, Centre Outreach & Communication Coordinator, + meta@dtu.dk

Moira O’Brien, UNEP DTIE Information Officer, +33 1 4437 14 30 moira.obrien@unep.org