By Dauda Abbas
The UN climate change conference in the UAE (COP28) and the Africa Climate Action Summit will drive a just energy transition that leaves no one behind, supported by concrete actions such as tripling renewable energy and mobilizing partnerships and financing to facilitate this transition.
This joint statement comes from Dr. Sultan bin Ahmed Al Jaber, the President-designate of COP28, and President William Ruto of Kenya.
The Africa Climate Action Summit in September will be a crucial moment for Africa and the Road to COP28, accelerating the energy transition and bringing African solutions to Dubai in November.
“We are determined to work hand in hand to ensure that COP28 and the Africa Climate Action Summit deliver tangible and meaningful results for the climate and the people of Africa and the world. To emphasize our commitment to results, we have launched a joint working group today between the Africa Climate Action Summit and COP28, focusing on the just energy transition and unlocking climate finance to accelerate green growth in Africa leading up to the respective summits.” The statement read.
Climate change stands as one of the greatest challenges the world faces today. Both the Africa Climate Action Summit and COP28 will serve as critical milestones in the year of the Global Stocktake, where the international community must come together to provide a solutions-oriented path forward.
A crucial aspect of this will be a plan to fundamentally transition the world’s energy systems and significantly increase investments in clean energy. Africa has the potential to lead this transition and generate substantial benefits for the region and the world.
In addition to being home to one of the planet’s most significant carbon sinks, Africa possesses considerable untapped hydro potential along the Congo and Nile rivers, geothermal potential along the Rift Valley, and solar and wind potential across the continent.
Moreover, it hosts the current and next generation of climate leaders, entrepreneurs, businesses, and civil society who will help unlock transformative actions. In a continent where nearly half of the population still lacks electricity, clean energy offers an opportunity to boost economic growth and enhance lives and livelihoods.
However, realizing this potential will require a substantial leap forward. Clean energy investment in Africa currently represents only 2% of the global total and less than 10% of the required $120 billion per year.
“We must transform how we deploy public, concessional, and philanthropic capital to attract the private investment needed for climate action in Africa. We need to fundamentally rethink the engagement between financiers, governments, global institutions, and technology providers. We all must contribute collectively,” state the leaders.
They express their commitment to realizing Africa’s energy transition potential, beginning with their participation in the Africa Energy Forum in Nairobi on June 20.