The African Venture Philanthropy Alliance (AVPA) has launched a new funding programme that hopes to engage funders with ‘climate adaptation innovators’ in a bid to address the critical $100 billion shortfall in funding and enhance climate resilience.  

In collaboration with The Lemelson Foundation, AVPA says its nine-month programme – called the African Climate Investing Forum – is comprised of a leadership programme spread over three months, and an ‘immersion programme’ running for six months aimed at broadening networks through meetups and peer-led sessions, tours and pitching opportunities.  

Innovations sought after includes, but are not limited to, those tackling flooding, storms, pest infestations, the spread of zoonotic diseases, extreme heat, drought, sea-level rise, saltwater intrusion, wildfires, soil erosion, and loss of biodiversity. 

Applications end on 29 February.   

AVPA says developing countries such as Kenya, Uganda and Ethiopia are more vulnerable to climate change and are also the most financially distressed and, therefore, cannot look towards adaptation. 

Research conducted by AVPA, Weber Shandwick and Geopoll found private investors remained predominantly focused on initiatives aimed at reducing Africa’s carbon footprint. 

By contrast, innovations aimed at mitigating rising temperatures, water scarcity, and extreme weather conditions ‘are primarily reliant on piecemeal funding from philanthropists, highlighting a gap in systematic investment towards climate adaptation in Africa’, said AVPA. 

“Renewable energy is a known path for investors, offering relatively swift and certain returns. Yet technologies to protect Africans from erratic water supplies, heat spikes and elevated pests and diseases are set to become mainstream necessities. Investors urgently need to focus on high-impact, high-return business opportunities and develop financial models that can handle smaller, more agile investments,” said Frank Aswani, CEO of AVPA. 

Africa’s financing needs is estimated to be at $2.7 trillion cumulatively over 2020-2030, for an adequate enough response to climate change. 

Shafi Musaddique is news editor at Alliance magazine.