The African Development Bank (AfDB) has assumed the role of hosting the Secretariat of the Africa Natural Capital Accounting Community of Practice (Africa NCA-CoP). This strategic move, announced during the recent Africa Climate Week in Addis Ababa, is aimed at empowering Africa to take greater control of its natural resources and lead in a new era of climate-resilient, sustainable development.
Previously located at the World Bank, the Africa NCA-CoP is a significant community that includes over 500 members from 48 African countries. The decision to move the secretariat to the AfDB headquarters in Abidjan, Côte d’Ivoire, is expected to foster stronger collaboration and more coordinated action across the continent.
The importance of this transition lies in recognizing and valuing Africa’s immense natural wealth. The continent is rich in resources such as fertile land, minerals, forests, and water, yet their true value is often overlooked in traditional economic models. By hosting the secretariat, the AfDB reinforces its leadership in integrating natural capital into the continent’s development strategies, ensuring these assets are managed for long-term prosperity.
This development also highlights the AfDB’s growing commitment to climate action. The bank has been a prominent presence at UN COP summits and is actively involved in key climate discussions, demonstrating its dedication to a sustainable future for Africa. The new partnership with the Africa NCA-CoP is seen as a further step in strengthening the bank’s climate credentials and its ability to drive meaningful change.