Climate change poses significant risks to the global community, with physical effects causing substantial economic losses. Over the past decade, storms, wildfires, and floods have resulted in substantial GDP losses. Africa, in particular, faces severe climate-related challenges, including drought, desertification, and increasing cyclones, leading to displacement, migration, and food crises. The continent is also disproportionately affected by the global temperature rise and is projected to experience escalating physical climate risks. Additionally, African governments’ limited ability to respond to the climate crisis due to debt-distress and economic shocks necessitates urgent action to provide debt relief and increased liquidity.