Ethiopia’s COP32 Hosting to Elevate Africa’s Climate Voice, Unlock Green Finance: UNECA Official

Addis Ababa, May 12, 2026 —  Ethiopia’s planned hosting of COP32 could become a defining moment for Africa by amplifying the continent’s voice on climate issues and mobilizing finance for renewable energy development, according to Sonia Essobmadje, Head of Finance and Domestic Resource Mobilization at the United Nations Economic Commission for Africa.

Essobmadje said the conference would provide Ethiopia and Africa with a strategic platform to advocate for climate solutions that reflect the continent’s realities, as African countries continue to bear the brunt of a climate crisis to which they contributed little.

Speaking exclusively to ENA, she described COP32 as a major opportunity for Africa to influence the global climate agenda.

“Ethiopia will be hosting COP32 and I think this will give us an opportunity to raise the African voice and to also share our perspective when it comes to that climate agenda and how it affects the continent and what we can do better with our partners,” she said.

Essobmadje also highlighted Ethiopia’s newly operational Securities Exchange as an important instrument for financing development and climate-related projects.

According to her, the exchange could help mobilize long term and affordable capital for priority sectors such as hydropower and renewable energy development.

“It’s about finding ways to also attract that capital so that the government can actually implement its own roadmap when it comes to climate,” she said.

She noted that Africa’s climate financing gap remains severe, revealing that the continent receives less than five percent of global climate finance flows despite facing significant climate challenges.

“This is very, very low compared to the big objectives, compared to the challenges, compared to the impact of climate here in Africa and notably in Ethiopia,” she stated.

Essobmadje stressed the need for governments to create favorable conditions for investment in renewable energy, particularly solar and hydropower projects, to improve access to affordable electricity.

She also emphasized the importance of integrating climate resilience into Ethiopia’s rapidly expanding infrastructure development.

“When we talk about climate change, we consider two aspects, one is mitigation, the second one is adaptation,” she said. “Today’s infrastructure does not become tomorrow’s issues due to climate change.”

The UNECA official further noted that Ethiopia’s ongoing fiscal reforms and capital market development could help attract greater climate finance while strengthening domestic resource mobilization.

She added that African countries should make better use of domestic capital markets and ensure prudent debt management.

“Debt is a critical instrument for countries,” she said, “but the way we manage it, the way we use it, is equally critical to make sure that debt does not become a burden for the next generations to come.”