The 31st United Nations Climate Change Conference (COP 31) opened on November 9 in Antalya, Türkiye, bringing together more than 90,000 delegates amid mounting climate and energy security pressures. Dubbed the “implementation COP,” the summit arrives in the wake of what the World Meteorological Organization calls an “off the charts” El Niño event, as rising energy demand and supply chain disruptions intensify pressure on emerging economies.
But the true test is whether this year’s conference can move beyond pledges and turn existing commitments into action. African leaders and the UN Economic Commission for Africa are demanding predictable financing and stronger mechanisms as they navigate immense pressure on food and energy security. With its vast energy and mineral resources attracting global interest, Africa has an opportunity to channel the world’s race for secure supplies into domestic infrastructure, processing and industrial development.
What COP Has Historically Failed to Deliver
For Africa, successive climate summits have resulted in ambitious – yet largely undelivered – financing commitments. At COP 15 in 2009, developed countries pledged $100 billion in annual financing for developing nations by 2020. This target was only reached in 2022. At COP 26 in Glasgow, governments committed to doubling adaption finance by 2025, yet recent assessments by the UN Environmental Program show that financing remains well below the estimated $305 billion required by developing countries annually by 2035.
Energy commitments have faced similar challenges. South Africa’s Just Energy Transition Partnership, announced at COP 26, has attracted pledges, but grants accounted for just 7.5% of the $13.5 billion committed by March 2026. Africa also receives less than 2% of global clean energy investment. Countries such as South Africa and Nigeria are consequently calling for tangible investment rather than further pledges. As African leaders head to Antalya, countries such as South Africa and Nigeria are challenging these models, calling for tangible investments rather than further pledges.
Africa’s Gas Sector Seeks Capital to Meet Domestic and Global Demand
Supply disruptions have placed African gas at the center of global energy discussions. The African Energy Chamber’s (AEC) State of African Energy 2027 Outlook estimates undeveloped recoverable gas resources at 550 trillion cubic feet, positioning the continent to strengthen grid reliability, balance intermittent renewables and meet rising industrial demand.
While exports have traditionally-dominated, many nations are prioritizing domestic markets. Up to 13 Sub-Saharan African nations now have explicit policies promoting domestic gas use, while gas-fired generation is expected to grow 40% by 2040. Beyond electricity, gas is emerging as a critical industrial feedstock, underpinning fertilizer, methanol and petrochemical value chains. Yet, realizing this potential at scale requires capital.
Recent geopolitical events have strengthened the investment case for African gas. While the continent supplied just 9% of global LNG in 2025, its geography offers a supply corridor that bypasses the Strait of Hormuz. By 2030, 13 mtpa of additional liquefaction capacity is projected to come online, with pre-FID projects capable of contributing over 30 mtpa over the next 25 years.
It’s Time to Turn Mineral Wealth into Resilient Supply Chains
Africa is also at the center of the global mineral race. Home to 30% of the world’s critical mineral resources, the continent has drawn significant attention from China, the U.S. and Europe as nations rush to secure copper, lithium, cobalt and other strategic minerals. As upstream interests expand, African coalitions are calling for global partners to strengthen financing across local refining, logistics and transport links as the continent’s biggest producers strive to retain more value at home.
At the 14th Conference on Climate Change and Development in Africa in September 2026, African leaders met to align their COP 31 messaging, prioritizing investment in mineral processing and infrastructure to move beyond extraction-only models. Projects such as the $786 million Lobito Corridor are advancing, but further investment is needed in refining, industrial parks and manufacturing.
Stop Making Pledges, Start Taking Action
COP 31 offers an opportunity to convert climate commitments into commercially viable projects aligned with Africa’s development priorities. These opportunities will take center stage at African Energy Week 2027, returning to Cape Town from October 4–8, where governments, investors and project developers will seek to translate commitments into financing and partnerships.
“Africa does not need another round of pledges. It needs capital that gets projects built, infrastructure developed and resources working for African economies. We have the gas, the minerals and the markets. What we need now are investors willing to move beyond commitments and put money into projects that will transform our industries and secure global supply chains,” states NJ Ayuk, Executive Chairman, AEC.
