In Brazzaville, on the sidelines of the 61st Annual Meetings of the African Development Bank, the High-Level Working Group on the Reform of the International Financial Architecture placed climate change at the heart of its discussions. The central topic of debate was the European Union’s carbon border adjustment mechanism, considered a cause for concern for African economies. Claver Gatete, Executive Secretary of the United Nations Economic Commission for Africa, called on African countries to adopt a common position to defend their commercial and economic interests.
Meeting in Brazzaville from May 25 to 29, 2026, as part of the African Development Bank’s Annual Meetings, participants in the parallel meeting of the High-Level Working Group on the Reform of the International Financial Architecture examined several issues deemed strategic for the continent’s economic future. Among the major topics discussed was the European Union’s Carbon Border Adjustment Mechanism (CBAM). According to Claver Gatete, Executive Secretary of the United Nations Economic Commission for Africa, this European measure risks having significant consequences for African economies.
“Climate change is already impacting our GDP by 5%, which is extremely significant for African economies. We also note that the value of our carbon credits remains very low, at less than $10 per ton, while it exceeds $100 in other regions such as the United States or Europe. This clearly demonstrates the imbalances that exist today in the global system. With the introduction of the European Union’s Carbon Border Adjustment Mechanism (CBAM), we are facing a new form of trade barrier. The European Union represents one of our largest export markets.”
Claver GATETE, Executive Secretary of the ECA – Rwanda
According to him, African exports could be penalized, particularly those of small traders and sectors heavily reliant on the European market. The low price of African carbon credits, less than $10 per ton compared to over $100 in some other parts of the world, also exacerbates these imbalances. Faced with this situation, the United Nations Economic Commission for Africa is calling for a collective response from the continent. This concern was also shared by several African leaders present at the meeting.
“We cannot simultaneously ask Africa to industrialize, decarbonize, build resilient jobs, create opportunities for young people, and achieve regional integration while maintaining a global financial system that systematically increases the cost of African transformation. This contradiction must be addressed. Reforming the global financial architecture is therefore not charity, but a policy of rational global economics.”
Ismael Nabe, Minister of Planning and International Cooperation – Guinea
Through this mobilization around the Carbon Border Adjustment Mechanism and climate issues, Africa now wants to have a greater voice in international negotiations. The message delivered in Brazzaville is clear: faced with the new rules of global trade, the continent intends to defend its interests with one voice.
