Ghana unveils new cedi banknotes featuring historic figures, national landmarks and stronger security. The Heritage Series enters circulation December 1

African leaders have called for fairer climate financing as world leaders gather for the COP31 summit in Türkiye. The talks come amid growing warnings about rising global temperatures and the challenges facing vulnerable countries. Australia and Ethiopia have urged wealthy nations to increase financial support for countries struggling with climate change. According to Africanews and the Associated Press, leaders raised concerns about the cost of adapting to extreme weather and protecting vulnerable communities. Ethiopia calls for affordable climate funding Ethiopian Prime Minister Abiy Ahmed stressed the need for fair and accessible climate financing. He warned that high borrowing costs prevent developing countries from investing in projects that protect communities from climate risks. Many African countries face growing pressure from droughts, floods and changing weather patterns. However, limited financial resources make it difficult to strengthen infrastructure and support affected communities. As a result, developing nations continue to push for better access to international climate funding. Abiy said reducing borrowing costs would test the credibility of global climate commitments. His remarks highlighted a major concern for African countries. They need affordable financing to adapt to climate change without increasing their debt burdens. Australia urges support for vulnerable nations Australian Prime Minister Anthony Albanese also called for greater financial support for countries facing severe climate risks. He focused on Pacific island nations, which face growing threats from rising sea levels and extreme weather. Albanese said wealthy countries must help vulnerable nations access the capital needed to adapt and build stronger economies. Meanwhile, island nations have strengthened their cooperation to increase their influence in international climate negotiations. Their demands reflect wider concerns among developing countries, including those in Africa. COP31 faces pressure over climate commitments Türkiye is hosting COP31, while Australia is leading negotiations under the summit’s shared leadership arrangements. However, the talks come amid criticism of the pace of global action to reduce greenhouse gas emissions. Africanews reported that Türkiye and Australia have faced criticism over their performance in reducing emissions. Scientists also warn that global warming is likely to exceed 1.5 degrees Celsius above preindustrial levels. The 2015 Paris Agreement established efforts to limit warming to 1.5 degrees Celsius while keeping the increase well below 2 degrees. Yet countries continue to disagree over financing, emissions reductions and the responsibilities of wealthier nations. Africa seeks stronger climate action For African countries, climate financing remains a central issue. Many governments need additional resources to improve water security, strengthen agriculture and protect infrastructure. At the same time, high borrowing costs limit their ability to invest in long-term climate projects. Therefore, African leaders are seeking financing arrangements that offer affordable access to funding. As COP31 negotiations continue, developing nations will be watching for concrete commitments. The outcome could shape how vulnerable countries finance their response to climate change in the years ahead.

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