COP29: EU-Africa Chamber of Commerce to host a panel discussion on Access to Finance & Sustainability

The EU-Africa Chamber of Commerce (EUACC) will be hosting a pivotal panel discussion at COP 29 in Baku, Azerbaijan, focusing on "Access to Finance & Sustainability: A Call to Action for Resilient Growth in Africa."

This event, held at the Côte d'Ivoire Pavilion, brings together experts, investors, and policymakers to tackle financing challenges and sustainability priorities within Africa's maritime sector.

The panel discussion of the EU-Africa Chamber of Commerce during the COP 29 will gather experts, investors, and policymakers to address financing challenges and sustainability priorities with a focus on Africa’s maritime sector.

The discussion builds on the Ten-Point Call to Action established during the recent EUACC-led conference in Abidjan in October 2024.

The commitment of the EU-Africa Chamber of Commerce is clear: contribute to address the critical challenge of access to finance. This obstacle hinders the development of infrastructure, innovation, and even sustainable practices within the African maritime sector. The focus on financial access and also on sustainability aligns directly with our EUACC 2021-2028 strategy: which prioritizes access to markets, innovation, influence, sustainability, and finance for both the private and public sectors. We firmly believe that each of these pillars is essential to paving the way for an inclusive and sustainable maritime economy.” says Sonia Toro – Exective Director of the EU-Africa Chamber of Commerce.

Amid the pressing need to promote green technologies and tackle financing barriers, the EUACC is dedicated to driving change by highlighting the role of Environmental, Social, and Governance (ESG) criteria. The Baku panel will explore avenues for sustainable growth in African maritime with participation from leaders across banking, public policy, and sustainability sectors.

During the discussion in Baku, The EU-Africa Chamber of Commerce will also promote the EUACC online project platform, designed to support and contribute to the financing of various sectors including the maritime sector in Africa. The platform aims to leverage digital tools to serve the sector by bringing together bankable investment projects and promoting them to financiers and private investors. Through integrated project restructuring services, the projects will be reviewed by experts to confirm their bankability and ensure an alignment with investors/financiers’ requirements, thereby enhancing their attractiveness.

This platform seeks to be a stimulator of financial innovation, providing projects with a support framework to attract the necessary funding. It will also address a central question: how can we talk about sustainability when the African maritime sector is still in search of fundamental resources?” Sonia Toro added.

Key Themes to be discussed :
Overcoming Financing Challenges: Innovative solutions such as green bonds, blended finance, and ESG-compliant investment instruments.

Integrating ESG Standards: Best practices for embedding ESG in financing, with insights from some organizations.

• Regulatory Harmonization: Emphasis on unified regulations across Africa to support sector-wide transformation.
• Public-Private Partnerships: Leveraging PPPs as resilient foundations for maritime infrastructure development in Africa.

Expected Outcomes:

• Enhanced awareness of sustainable growth and resilience within the African maritime sector.
• Strategic partnerships that balance economic growth with sector decarbonization.
• Expanded access to financing tailored to green maritime projects.
• Strong stakeholder commitment to implementing the Ten-Point Call to Action for a sustainable transformation of Africa’s maritime industry.

Source: Kofi Ahovi, Baku-Azerbaijan

Courtesy Jospong Group of Companies