The key messages reflected in this document are as follows: The Advisory Group on Climate Finance (AGF) report presents many opportunities for climate compatible development in Africa – development that minimises the harm caused by climate impacts while maximising the human development opportunities presented by a low emissions, more resilient future. ● Africa must ensure it receives a sufficient proportion of public money for climate finance, and that it is able to make good use of it. ● The AGF report emphasises the need to raise revenues in a way that provides incentives for developed countries to reduce emissions. This is welcome, but introduces risks concerning the reliability of these revenues. These concerns can be relieved by robust, credible commitments by developed countries to reduce emissions. ● Africa should participate fully in discussions to ensure that any negative impacts from raising revenue are compensated. However, it seems likely that these impacts will be small.● Regulatory reforms that facilitate private-sector investment are crucial to Africa’s development.