Speech Delivered by Dr. Akinwumi A. Adesina, President and Chairman, Boards of Directors, African Development Bank Group At the High-Level Event, COP 29 “Measuring the Green Wealth of Nations: Natural Capital and Economic Productivity in Africa”
ContextSpeech at a COP29 high-level event in Baku on measuring Africa's natural capital; the African Development Bank finances Africa's development and wants nature counted in national wealth.
Why it mattersThe AfDB argues that counting Africa's natural capital would unlock more climate finance.
Problems raised
GDP ignores the value of Africa's natural capital.
Africa is undervalued in climate finance.
Nature is being depleted without being counted.
Solutions proposed
Measure and integrate natural capital into national accounts.
Use that wealth to unlock climate finance.
Adopt the report's key actions at head-of-state level.
