# A new report by Oil Change International argues rich nations could unlock 113-trillion-rand annually to close Africa’s climate finance gap. The report states this is possible if they tax extreme wealth, end fossil fuel subsidies, close tax loopholes, and reform debt rules. Africa needs 43-trillion-rand by 2030 but received just 759-billion-rand in 2021/22. The report cautions that the challenge is turning potential capital into tangible renewable energy and climate adaptation projects.
Oil Change International report reveals rich countries can close Africa’s climate finance gap