In a bold move to redefine the global economic landscape, African leaders have called for the continent’s natural assets, valued at trillions of dollars, to be integrated into GDP measurements. This call to action came during a high-level meeting on November 13, held alongside the COP29 World Leaders’ Summit in Baku.
Titled Measuring the Green Wealth of Africa, the meeting was convened by President Denis Sassou Nguesso of the Republic of Congo, Kenyan Prime Cabinet Secretary Musalia Mudavadi (representing President William Ruto), and African Development Bank (AfDB) President Dr. Akinwumi Adesina. Heads of state and senior officials from across Africa, including Rwanda’s President Paul Kagame and Zimbabwe’s President Emmerson Mnangagwa, were also in attendance.
President Sassou Nguesso underscored the significance of Africa’s natural capital, stating that its value is often ignored in traditional GDP accounting. He emphasized, “We are doing useful work for Africa and the rest of the world, contributing to the recognition of the environmental dividend.” 
Kenya’s Prime Cabinet Secretary, Musalia Mudavadi, echoed this sentiment, highlighting the importance of valuing ecosystem services such as carbon sequestration and pollution control as global public goods. “By appropriately valuing our green wealth, countries can unlock financial flows into investments to boost our economies and even improve our credit ratings,” he stated.
Dr. Akinwumi Adesina presented eye-opening statistics, pointing out that Africa’s GDP of $2.5 trillion in 2018 paled in comparison to the $6.2 trillion valuation of its natural capital. He noted that adjusting GDP for carbon sequestration alone could add $66.1 billion—more than the combined GDP of 42 African nations. Yet, he warned of a “carbon grab,” where Africa’s carbon sinks are undervalued and sold cheaply, costing the continent both sovereignty and fair financial returns.
Rwanda’s President Kagame championed the agenda, asserting, “We are not asking for handouts but for the world to pay for something that has tremendous value for all of us.”
The African Development Bank also unveiled its report, Measuring the Green Wealth of Nations: Natural Capital and Economic Productivity in Africa. The report outlines steps to incorporate natural capital into GDP metrics, which Adesina argued could unlock immense economic potential for the continent.
The leaders committed to forging alliances with other regions, including Latin America and Asia, to advocate for this paradigm shift globally. The outcomes of their deliberations will be presented at the 2025 African Union Summit for adoption.
The session, moderated by Dr. Victor Oladokun, featured prominent figures such as WTO Director-General Dr. Ngozi Okonjo-Iweala and Global Center on Adaptation CEO Professor Patrick V. Verkooijen, among others.
As Africa pushes to redefine economic metrics, the question remains: will the global community recognize the continent’s contributions to the planet and join in valuing its natural capital fairly?
