Strengthening domestic resources is vital for climate action in Africa

In addition to raising more revenue, recovering illicit financial flows could also improve public finances for climate change adaptation. According to the UN Conference on Trade and Development (UNCTAD), Africa loses approximately £68 billion a year, 3.7 per cent of GDP, to tax evasion, money laundering, corruption, and other crimes. Recovering or retaining these funds holds immense potential for sustainable development.