Guterres urges finance reform, expanded climate adaptation funding and fair mineral value chains for Africa

Antonio Guterres, United Nations Secretary-General, told African Union leaders that Africa faces structural economic disadvantages on debt, investment and access to climate finance, and he urged reforms and large-scale funding to support adaptation and a just energy transition.

Guterres said African countries pay "up to eight times more" to borrow than developed countries and that about 20 countries are "in or at risk of debt distress." He urged international financial architecture reform and stronger action on debt relief.

Pointing to clean-energy potential, Guterres said "the renewables revolution is unstoppable, and Africa is poised to become a global clean energy powerhouse," but noted Africa receives just 2% of global renewables investment. He called for access to affordable finance, full implementation of the COP29 finance decision, and development of a road map to realize about $1.3 trillion a year in climate-related finance.

On adaptation and loss-and-damage, he called for doubling adaptation finance from developed countries and making the loss-and-damage fund an effective instrument to support developing countries. He also raised concerns that Africa's critical minerals are too often extracted with little local benefit and said the U.N. panel on critical energy transition minerals should promote justice, sustainability and human rights across value chains.

Guterres linked these economic and climate priorities to the African Union's Agenda 2063 and the African Continental Free Trade Area, saying both economic integration and finance are necessary for Africa's development.