The UN climate change conference in UAE (COP28) and the Africa Climate Action Summit will drive a just energy transition that leaves no one behind, underpinned by real action including the tripling of renewables and mobilising the partnerships and finance to deliver on the transition.
That’s according to a joint statement by COP28 President-designate, Dr. Sultan bin Ahmed Al Jaber, and the President of Kenya, William Ruto.
The Africa Climate Action Summit in September will be a pivotal moment for Africa and on the Road to COP28 to accelerate the energy transition and bring African solutions to Dubai this November.
“We are determined to work hand in hand to ensure COP28 and the Africa Climate Action Summit will deliver real and tangible results for the climate and for the people of Africa and the world.
“To underscore our commitment to results we have today launched a joint working group between the Africa Climate Action Summit and COP28 with a focus on the just energy transition and unlocking climate finance to accelerating green growth in Africa in the lead up to the respective summits,” they said in the statement.
Climate change is one of the greatest challenges confronting the world today.
Both the Africa Climate Action Summit and COP28 will be critical milestones in the year of the Global Stocktake for the international community to come together and provide a solutions-oriented path forward.
A critical element will be a plan to fundamentally transition the world’s energy systems and vastly scale investments in clean energy.
Africa has the potential to lead this transition and deliver enormous benefits for the region and globally.
In addition to being home to one of the planet’s most important carbon sinks, it is endowed with significant untapped hydro potential along the Congo and Nile rivers, geothermal potential along the Rift Valley, and solar and wind potential across the Continent.
It is also home to the current and next generation of climate leaders, entrepreneurs, business, and civil society that will help unlock the solutions to transformative action.
On a continent where almost half of the population still lacks electricity, clean energy provides an opportunity to supercharge economic growth and improve lives and livelihoods.
Realising this potential will require a step change. Clean energy investment in Africa represents only 2% of the global total and less than 10% of the $120 billion a year that is required.
“We must transform the way we deploy public, concessional, and philanthropic capital to drive the private investment that is needed for climate action in Africa.
“We need to fundamentally rethink the way financiers, governments, global institutions, and technology providers engage with each other. We must all play our collective part,” said the statement.
The leaders say they are committed to realising Africa’s potential in the energy transition beginning with the participation at the Africa Energy Forum in Nairobi on June 20.
By Kofi Adu Domfeh