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COP29: Rich nations must double climate funding from taxes by 2030 – Experts

Michael Simire
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COP29: Rich nations must double climate funding from taxes by 2030 – Experts

Wealthy countries must more than double the amount of climate finance paid from taxpayers’ money annually by 2030, UN-appointed experts said.

COP29
A session at the COP29 Summit

The Independent High-Level Expert Group on Climate Finance (IHLEGCF) assessed how much money would be needed to meet the 2015 Paris Agreement goals, which aim to limit dangerous global warming.

The new report was launched on Thursday, November 14, 2024, at the UN COP29 climate summit in Azerbaijan, as world leaders and delegates seek to iron out a new finance agreement.

Richer countries previously pledged $100 billion a year in private and public finance to help developing nations green their economies and adapt to inevitable climate change impacts, as part of efforts to secure the Paris Treaty.

But countries agreed that a new agreement on climate finance should be set before 2025.

As nations now hammer out those details at COP29, the IHLEGCF said a total of $1 trillion needs to be flowing into developing countries each year by 2030, bar China, to meet the Paris Agreement goals.

Within this, the group outlined the amount of public money richer governments will need to give developing countries.

At the moment, the analysis said, around $43 billion in this “bilateral public funding” is flowing yearly from developed to developing countries.

Still, according to the experts. this needs to increase to $80 billion to $100 billion by 2030 per year for the world to meet the Paris Agreement goals.

But that is not all, as bilateral funding is not the only public money that richer governments pay as climate finance.

They also contribute money to multilateral development banks – like the World Bank – which then direct climate finance to developing countries.

For example, the UK government has pledged to spend £11.6 billion ($14.7 billion) over five years to 2026, mostly through bilateral climate finance but also including money it pays to multilateral banks.

To meet their share of the $1 trillion, the IHLEGCF said that multilateral banks will need to triple financial flows to developing nations by 2030 – to around $250 billion to $300 billion.

Beyond this, the report said: “The large and rapid scale-up of finance to support a big investment push can only be achieved by harnessing all pools of finance.”

It said around half of the $1 trillion – so between $450 billion and $550 billion – should be flowing into developing countries from private investment.

Professor Nick Stern of the Grantham Research Institute on Climate Change and co-chairman of the high-level group said this is “what’s necessary to deliver on Paris.”

The report warned that any shortfall in investment before 2030 will place added pressure on the years that follow and therefore create “a steeper and potentially more costly path to climate stability.”

“The less the world achieves now, the more we will need to invest later,” the report noted.

“Delayed action means we will need to mobilise even larger sums in shorter timeframes to catch up on critical targets.

“Additionally, investment needs for adaptation and resilience, as well as loss and damage and restoration of nature, will rise sharply as climate and nature risks escalate.”

The high-level group, also co-chaired by Amar Bhattacharya and Vera Songwe, has been supporting the deliberations on the climate finance agenda under successive COP presidencies since COP26.

It was tasked to help develop and put forward policy options and recommendations to encourage and enable the public and private investment and finance necessary for the delivery of the commitments, ambition, initiatives, and targets of the Paris Agreement.

The report was on Thursday officially launched at COP29 at a special event with Simon Stiell, the head of UN Climate.

COP29 climate talks urged to find $1trn annually for poorer countries

Michael Simire
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COP29 climate talks urged to find $1trn annually for poorer countries

Pay now to help poorer countries cope with climate change or pay more later, negotiators were warned on Thursday, November 14, 2024, as experts said poor states need at least $1 trillion per year by the end of the decade to move to greener energy and protect against extreme weather.

COP29 Leaders
Global leaders at COP29 Summit in Baku, Azerbaijan

Money is a central focus of the COP29 climate talks being held in Azerbaijan and the success of the summit is likely to be judged on whether nations can agree a new target for how much richer nations, development lenders and the private sector must provide each year to developing countries to finance climate action.

A previous goal of $100 billion per year, which expires in 2025, was met two years late in 2022, the OECD said earlier this year, although much of it was in the form of loans rather than grants, something recipient countries say needs to change.

Setting the tone at the start of the day, a report from the Independent High-Level Expert Group on Climate Finance said the target annual figure would need to rise to $1.3 trillion a year by 2035, or potentially more if countries drag their feet now.

“Any shortfall in investment before 2030 will place added pressure on the years that follow, creating a steeper and potentially more costly path to climate stability,” the report said.

“The less the world achieves now, the more we will need to invest later.”

Behind the scenes, negotiators are working on draft texts of a deal, but so far early-stage documents published by the United Nations climate body only reflect the huge range of different views around the table, with little sense of where the talks will end up.

Some negotiators said the latest text on finance was too long to work with, and they were waiting for a slimmed-down version before talks to hammer out a deal could begin.

Any deal is likely to be hard fought given a reluctance among many Western governments – on the hook to contribute since the Paris Agreement in 2015 – to give more unless countries including China agree to join them.

The likely withdrawal of the United States from any future funding deal by incoming President Donald Trump has also overshadowed talks, raising pressure on delegates to find other ways to secure the needed funds.

Among them are the world’s multilateral development banks such as the World Bank, bankrolled by the richer countries and which are in the process of being reformed so they can lend more.

A group of 10 of the largest have already flagged a plan to ramp up their climate finance by roughly 60 per cent to $120 billion a year by 2030, with at least an extra $65 billion from the private sector.

A push to raise fresh money by taxing polluting sectors such as aviation, fossil fuels and shipping, or financial transactions, received a boost as more countries said they would consider it, but any agreement is unlikely this time around.

On Thursday, Zakir Nuriyev, head of the Association of Banks of Azerbaijan, announced a commitment by the country’s 22 banks to commit nearly $1.2 billion to finance projects that help Azerbaijan transition to a low-carbon economy.

Three days in, the conference has already included a handful of diplomatic spats.

French climate minister, Agnès Pannier-Runacher, on Wednesday cancelled her trip to COP29, after Azerbaijan’s President Ilham Aliyev accused France of “crimes” in its overseas territories in the Caribbean.

“The voices of these communities are often brutally suppressed by the regimes in their metropolis,” Aliyev told the conference.

France and Azerbaijan have long had tense relations because of Paris’ support of Azerbaijan’s rival Armenia.

This year, Paris accused Baku of meddling and abetting violent unrest in New Caledonia.

“Regardless of any bilateral disagreements, the COP should be a place where all parties feel at liberty to come and negotiate on climate action,” European Union climate commissioner, Wopke Hoekstra, said in response, in a post on X.

“The COP Presidency has a particular responsibility to enable and enhance that,” he said.

That came after Aliyev used his opening speech at the conference on Monday to “accuse” the United States and EU of hypocrisy for lecturing countries on climate change while remaining major consumers and producers of fossil fuels.

Meanwhile, Argentina’s government has withdrawn its negotiators from the COP29 talks, two diplomats at the event told Reuters, although neither knew the reason for the decision.

Argentina’s embassy in Baku declined to comment.

Argentina’s President, Javier Milei, has previously called global warming a hoax.

Africa grapples with forecasting challenge as weather disasters loom

Michael Simire
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Africa grapples with forecasting challenge as weather disasters loom

Deputy Director of Chad’s National Meteorological Agency, Hamid Abakar Souleymane, waggled his finger up and down to demonstrate how a motionless humidity gauge at the agency’s headquarters should have been working.

N’Djamena
Flooding in N’Djamena, Chad

The broken hygrothermograph was among the dustblown outdoor equipment in the capital N’Djamena that is meant to help the agency known as ANAM to track weather patterns.

The situation in Chad is replicated across much of Africa, a continent sorely lacking the reliable forecasts that are a keystone of disaster management as climate change makes extreme weather more frequent.

At COP29 climate talks on Wednesday, November 13, 2024, UN Secretary-General Antonio Guterres called for urgent action to overcome a shortage of data and funding.

The aim is to meet a target for universal protection by end-2027 from early warning systems to help preparation for extreme weather events.

For Chad, that appears a particularly ambitious goal.

Around 80 per cent of the devices at the agency’s site in N’Djamena are not operational, Deputy Director Hamid Abakar Souleymane told Reuters in October, as Chad battled another season of devastating floods.

“The reliability of weather information depends on the resources invested in producing it,” he said, describing a relentless push for more funding and trained personnel.

Africa, a continent of 1.5 billion people, has the world’s least-developed weather and climate observation network with fewer stations operating to global basic standards than Germany, according to the World Meteorological Organisation.

“There are many declared stations that exist or may not exist.

“Many of them are not sharing data,” said Albert Fischer, director of the WMO Integrated Global Observing System division.

As of the third quarter of 2024, only two out of 53 African WMO countries were compliant with basic requirements for ground-level observation stations, Fischer said.

Being unprepared has deadly consequences. Floods not only happen more often across Africa than in Europe and North America combined, but they kill four times more people on average due to a lack of preparedness and warnings, a 2023 article in the journal Nature said.

Good weather data alone is not enough, as evidenced by deadly floods in October in Spain when some local authorities were blamed for failing to raise the alarm in time.

Chad’s plight nevertheless shows the scale of what can happen when disaster strikes one of the most vulnerable and data-poor regions on earth.

Heavier-than-usual seasonal rains in parts of West and Central Africa drove rivers to break their banks in recent months, leading to floods in every one of Chad’s provinces with 1.9 million people affected, over 570 killed, and 72,000 heads of cattle swept away.

“Everywhere is flooded. We have lost our fields of sorrel, beans, and grain.

“Everything is destroyed now because no one warned us of such a catastrophe,” mother-of-four Josiane Allasra said, speaking at a makeshift camp for displaced people on the outskirts of N’Djamena in late October.

“We’re hungry and we have nowhere to shelter our children.”

ANAM did not have the resources to track the worsening conditions as the disaster unfolded across a country the size of France and Spain combined.

“We have significantly less than we need.

“We need stations and we need funding,” Souleymane said during a tour of ANAM’s N’Djamena facilities, where stacks of old weather data spilled out over the floor of the archive and packaged equipment gathered dust.

A 2023 review of Chad’s hydromet capacity, found that it had just two trained forecasters, making round-the-clock forecasting and warning impossible.

The agency also lacks the financial and technical means to maintain a network of new automatic weather stations from the United Nations Development Programme (UNDP), which anyway only covered the south and centre of the country, the report said.

“There’s a lot of wasted investment and infrastructure that is scattered … around Africa,” said Ana Heureux, programme management officer at a UN fund that supports countries like Chad to close their vast data gaps.

Under a five-year programme, the Systematic Observations Financing Facility (SOFF) plans to help Chad upgrade or launch 34 weather stations to global observation standards.

Chad currently has one surface-land weather station.

To avoid a situation in which authorities find themselves with technology they do not have the expertise and funds to maintain, SOFF’s strategy includes making use of advisers from developed countries.

Once up-and-running, countries will continue to receive SOFF support provided they share their data internationally, Heureux said.

“Finally, we have one fund that’s dedicated to long-term support,” said the WMO’s Fischer.

Since mid-2022, SOFF has supported 23 African countries.

However, its funding outlook is uncertain. Since 2020, it has raised 94 million dollars out of a target of 200 million dollars by 2025.

There “has been a bit of a challenging fundraising donor environment, with everything happening in the world,” said Heureux, adding that SOFF hoped to close the gap including via a big fundraising push at COP29.

COP29: Activists transform Olympic Stadium into call for climate finance deal

Michael Simire
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COP29: Activists transform Olympic Stadium into call for climate finance deal

Global climate activists on Thursday, November 14, 2024, took over Baku’s Olympic stadium – the venue for the United Nations climate talks – to urge world leaders to commit to a strong climate finance deal this year.

“Pay Up!”
The “Pay Up!” message at Baku’s Olympic Stadium

The message “Pay Up!” unfolded across the stadium seats, in perfect sight from the COP29 presidency offices located on the opposite side of the arena. A large swath of seats was converted with massive banners declaring “Pay Up!” demanding world leaders get climate finance done.

The action comes on the COP29 thematic day for finance when the stakes are high for securing financial commitments to support the global transition away from fossil fuels and protect countries from worsening climate impacts.

COP29 has been dubbed the “finance COP” as the new global climate goal is the big battleground issue at this year’s talk. Many call for the new goal to drastically increased from its present $100 billion to at least $1 trillion per year, in order to mitigate and adapt to climate impacts worldwide.

“Finance is the greatest barrier to the resilience of our peoples, but it is also our greatest opportunity. It is the bridge to climate action and climate justice. Finance is not just about arbitrary numbers. It’s about freedom, self-determination, and prosperity, and you can’t put a price tag on that. It’s time for climate culprits to hear our message, take responsibility, and pay up,” said Joseph Sikulu, coalition member and delegate from the Pacific, Tonga.

Global climate policy experts underscore this year’s conference as one of the most critical since COP26 in 2021. Without significant climate finance contributions, new national climate plans from vulnerable countries could fall short of the Paris Agreement’s 1.5°C goal, threatening the efficacy of international climate action.

“There is no time to lose. It’s urgent that developed countries take responsibility and leadership and provide sufficient public finance to attend to the needs and priorities of developing countries, particularly the adaptation needs. Not having a fair, equitable and ambitious NCQG means not having a clear future for most developing countries. But ultimately, the NCGQ is key to keeping 1.5°C alive – which is crucial to all of us. Let’s make the polluters pay for their historical responsibilities,” said Sandra Guzman, coalition member and delegate from Mexico.

Activists are also calling for the funds to be raised through taxes levied on fossil fuel-intensive industries. Last year, three fossil fuel companies made a combined $120 billion in profits from global oil and gas production – which is more than the combined GDP of the 11 poorest countries most threatened by climate disaster.

“As communities in the Global South bear the brunt of climate disasters, it’s past time for the Global North to pay their share – without saddling us with more debt. Real climate action means financing solutions that uplift, empower, and sustain our communities, free from the chains of fossil fuels and debt traps.

“The world needs leaders who are committed to justice and fairness; this starts with honoring climate finance commitments, taxing the super-rich, phasing out fossil fuels, and holding polluters accountable. The climate crisis doesn’t pause for politics or profit; it demands swift, decisive, and equitable action, now,” said Marinel Ubaldo, coalition member and delegate from the Philippines.

Osun announces changes in climate change leadership team

Michael Simire
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Osun announces changes in climate change leadership team

Governor Ademola Adeleke of Osun State has approved changes in the leadership of the state’s climate change team with a view to ramp up the push against the negative effect of climate change in the state.

Senator Ademola Adeleke
Gov. Ademola Adeleke of Osun State

The Governor subsequently directed the abolition of the office of Senior Special Assistant on Climate Change and the redeployment of the SSA on Climate Change, Prince Moruf Adedapo, out of the sub sector to the pool of SSAs.

The Governor also directed the movement of the office of the Consultant to the State on Climate Change and Renewable Energy from the Ministry of Environment to the Governor’s Office.

The consultant, Prof Chinwe Obuaku, will henceforth be reporting to the Governor directly as a strategy to give bite to the administration’s push to fast-track the implementation of adaptation and mitigate climate actions.

As part of the leadership reforms, Governor Adeleke further directed that liaison between the state government and federal agencies as well as development partners on climate matters should be coordinated by the state consultant.

Stakeholders are also advised to relate with the state consultant on climate related matters as the office of SSA on Climate Change no longer exists.

Billionaires held to account as campaigners demand ‘Energy of the People’ at COP29

Michael Simire
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Billionaires held to account as campaigners demand ‘Energy of the People’ at COP29

Indigenous leaders and climate campaigners at COP29 on Thursday, November 14, 2024, launched two critical campaigns to underscore the urgent need for wealthy nations and billionaires to take responsibility for funding climate solutions through the launch of “The Tax Their Billions Dossier” and the “Energy of the People” campaign.

COP29
COP29 holds in Baku, Azerbaijan November 2024

The launch was made at a press conference that coincided with Finance Day at the COP where country negotiators discussed how to deliver the trillions needed from wealthy countries to fund the just transition and tackle the climate crisis.

Energy of the People is a community-led, decolonial campaign for energy justice in the Brazilian Amazon. It advocates for policies that increase access to clean, reliable energy while ensuring Indigenous rights are respected and protected.

The campaign highlights how Indigenous and traditional people are pioneering renewable energy solutions in the region, offering a model for a just energy transition that prioritises the needs and rights of those most affected by the climate crisis. In the Amazon, many communities still rely on diesel-powered generators for just a few hours of electricity each day.

At the same conference, campaigners launched the Tax Their Billions Dossier, calling out eight billionaires for their extreme wealth and the disproportionate role they play in the climate crisis.

The Tax Their Billions Dossier targets ultra-wealthy figures such as Bernard Arnault, the Batista Brothers, and the heirs of the BMW fortune, who are accused of paying far less in taxes than their fair share while profiting from industries that fuel the climate emergency.

According to the dossier, progressive taxes on extreme wealth could unlock trillions of dollars to help governments in the Global North finance both domestic and international climate efforts, with a focus on supporting vulnerable communities in the Global South.

The press conference coincided with actions taking place in different locations across the globe including Rio de Janeiro, Germany, the UK and France.

Speaking at the press conference, Nicolas Haeringer, Associate Director of Movement Support at 350.org, said: “Global North governments here in Baku are reluctant to pay their fair share, pretending that doing so would burden ordinary people in their countries. This couldn’t be further from the truth. The problem is a lack of political will.

“There is a very simple yet efficient way to get there – by taxing the super-rich. It’s a great way to achieve climate justice, not just because of resources they have available, but because they are directly responsible for social ecological destruction and climate change. We have launched the Tax Their Billions Dossier to show how and why this would work.”

Ilan Zugman, Director for Latin America and the Caribbean at 350.org, added: “The Brazilian Amazon provides one third of the electricity in Brazil, but one million majority Black and Indigenous people still don’t have access to electricity, and the people that do have access still rely on old and dirty diesel generators and power plants. On top of that, oil and gas exploitation continues to advance in the region, and climate impacts like fire and extreme droughts are ravaging communities in the Amazon.

“In partnership with Indigenous people in Brazil we are launching Energia Dos Povos – Energy of the People. In the world’s largest rainforest, the renewable energy revolution is about more than just installing solar panels. It’s about human rights, inclusion, and systemic change to enable communities to make their own decisions about their energy choices. We know that money exists, and we must ensure that COP29 delivers on this new climate finance goal, and next week’s G20 in Rio de Janeiro to provide support for taxing billionaires.”

Mariana Paoli, Global Policy Lead, Christian Aid, said: “The NCQG is a unique opportunity to keep 1.5 alive and deliver climate justice to communities, those based in the global south, most affected by climate change and who have done the least to contribute to it. It is about fairness and justice.

“We need to judge the outcomes of these climate finance negotiations on precisely the quality of finance. It is really important that this COP delivers on what the Paris Agreement is all about. We know the money is out there, and that’s what this report is showing. I want to underscore this is about political will. We have another nine or 10 days to go, and we’ll be campaigning and advocating for this to happen.”

NNPC announces 1.8mbpd production, eyes 2mbpd by year end

Michael Simire
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NNPC announces 1.8mbpd production, eyes 2mbpd by year end

The Nigerian National Petroleum Company Limited (NNPC Ltd) and its partners have revved up crude oil and gas production to 1.8 million barrels per day (mbpd) and 7.4standard cubic feet per day (scfd).

NNPC
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, speaks during a media briefing to announce the 1.8mbopd crude oil production milestone at the NNPC Towers in Abuja, on Thursday. The Minister is flanked to his right by the Chairman, NNPC Board, Chief Pius Akinyelure, and to his left, by the GCEO NNPC Ltd, Mr. Mele Kyari

The company, which announced this at a press briefing on Thursday, November 14, 2024, said the feat was achieved in compliance with the mandate of President Bola Ahmed Tinubu.

Speaking on the development, the Group Chief Executive Officer, Mr. Mele Kyari, congratulated the Production War Room Team that anchored the production recovery process.

“The team has done a great job in driving this project of not just production recovery but also escalating production to expected levels that are in the short and long terms acceptable to our shareholders based on the mandates that we have from the President, the Honourable Minister, and the Board,” Kyari explained.   

Giving details of the efforts of the Production War Room, the Chief War Room Coordinator and Senior Business Adviser to the Group Chief Executive Officer, Mr. Lawal Musa, disclosed that the feat was achieved through the collaborative efforts of Joint Venture and Production Sharing Contract partners, the Office of the National Security Adviser, as well as government and private security agencies.

He said the interventions that led to the recovery of production cut across every segment of the production chain with security agencies closely monitoring the pipelines.

He stressed that when the Production War Room team was inaugurated on June 25, 2024, production was at 1.430mbpd, but the team swung into action, culminating into it sustaining the production recovery to 1.7mbpd in August and hitting the current 1.808mbpd in November.

“We are confident that with this same momentum and with the active collaboration of all stakeholders, especially on the security front, we can see the possibility of getting to 2mbpd by the end of the year,” he stated.

Also speaking on the development, Chairman of the NNPC Ltd Board of Directors, Chief Pius Akinyelure, who also congratulated the team, said he was happy to be part of the production recovery process, adding: “Today, I will leave this place with my heart full of joy.”

He charged the Company’s Management to come up with a cashflow projection based on the new production figures to facilitate planning, stressing that he was looking forward to further production increase to 3mbpd.

On his part, the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, expressed satisfaction with the performance of the team and pledged the Federal Government’s support for the company to do more.

‘A Conference of Polluters’? – Activists condemn COP29 carbon trading schemes as ‘License to Pollute’

Michael Simire
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‘A Conference of Polluters’? – Activists condemn COP29 carbon trading schemes as ‘License to Pollute’

At the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change (UNFCCC) where world leaders gather under the banner of climate action, criticism has reached a fever pitch from climate activists and vulnerable nations, who accuse high-emission countries of using carbon trading as a diversion from real environmental accountability.

Nnimmo Bassey
Nnimmo Bassey, director of HOMEF (left), at a panel discussion session at COP29

Representatives from the Global South, environmental activists, and indigenous leaders are warning that the conference risks transforming into a “carbon trade fair” that prioritises profit over people.

Nnimmo Bassey, a Nigerian environmentalist and director of HOMEF, was emphatic: “This conference has turned into a business model for rich nations and corporations to pay their way out of climate accountability. Every carbon credit bought by a wealthy nation is another license for them to keep polluting while the frontline communities drown in emissions they never caused.”

Bassey’s perspective resonates with other attendees frustrated by what they see as shallow promises devoid of substantive action.

Carbon trading has long been touted as a market-based solution to reduce emissions. However, critics argue it allows major polluters to buy offsets rather than actually reduce their own emissions. Through this model, developed nations can fulfill climate commitments on paper while expanding fossil fuel projects. Environmentalists are skeptical, viewing it as a loophole that permits more pollution without addressing the root causes of climate change.

Fiji-based activist Joapi, representing the Pacific Climate Warriors, stated bluntly, “Every ton of carbon emitted by the Global North is another attack on our communities. Carbon trading is not justice; it’s colonialism by another name.”

Joapi’s Pacific Island home is among the most vulnerable, already seeing villages displaced by rising sea levels and freshwater contaminated by encroaching saltwater.

The exploitation of carbon credits has transformed many developing nations into unwitting overseers of “carbon sinks” in forests and wetlands, where they must commit their natural resources to offset emissions from wealthier nations. This carbon colonialism, critics argue, prioritises corporate profits and the lifestyles of industrialised nations at the expense of frontline communities’ survival.

Yvonne Yáñez of Acción Ecológica voiced her concerns: “This isn’t financing climate action for the Global South. This is a rebranding of debt and dependency. Conditional loans from institutions like the World Bank shackle us to perpetual repayment, and what they call ‘aid’ comes with conditions that strip away our sovereignty.”

Instead, Yáñez and other activists argue for a fundamental shift in climate financing, calling it an issue of historical responsibility and justice. Their demands include reparations from high-emission countries to the Global South, covering not only the economic costs of adaptation and resilience but also the profound ecological and cultural losses already suffered by these regions.

Estimates from environmental economists place the ecological debt owed by wealthy nations at around $5 trillion, a figure that underscores the scale of the damage inflicted by colonial extraction and industrial pollution. Yet, climate finance commitments have consistently fallen short. Despite the promise of $100 billion annually starting in 2020, this target remains unmet, with funds often offered in the form of loans rather than direct support.

“We’re talking about communities that need lifelines, not loans. These loans turn climate finance into a business scheme to extract even more wealth from the Global South,” said Yáñez.

Dr Rosalid Nkirote, the Executive Advisor, African Coalition of Communities Responsive to Climate Change, noted that COP29 is once again becoming a meeting of corporate and national interests rather than a genuine response to the climate crisis. As the Global North spends an estimated $2.4 trillion annually on defense, the $100 billion promised for climate finance remains elusive.

She argues that this is not a matter of resources but of political will: “If they can find trillions for war, they can find funds for the climate. The refusal to act decisively isn’t just a policy choice; it’s a direct attack on vulnerable communities.”

The call from climate activists at COP29 is clear: rather than engaging in superficial solutions, nations must confront the roots of climate change, starting with an urgent, enforceable transition away from fossil fuels. They argue that climate action must be led by justice, responsibility, and reparations, not by financial engineering and “offsets” that allow the pollution to continue.

Global South representatives and activists are urging the formation of a Fossil Fuel Non-Proliferation Treaty to bring an end to unchecked fossil fuel expansion. This would set legally binding measures to end new fossil fuel projects and hold polluters accountable. For these communities, real climate finance is reparative, not an investment opportunity for banks and corporations.

Henry Opondo, Advocacy Advisor at ACCRCC, noted that, as COP29 draws on, those on the front lines of the climate crisis are calling for systemic change, not just words.

“Any viable solution must involve direct funding for climate adaptation, and reparations to countries that have suffered the brunt of a crisis they did not create,” he noted.

Africa’s Energy Transition: Climate Academy charts new path for sustainable development discourse

Michael Simire
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Africa’s Energy Transition: Climate Academy charts new path for sustainable development discourse

As the global debate on transitioning from fossil fuels like petroleum, coal, and natural gas to renewable energy intensifies, Africa’s role and potential to emerge as a key player in this shift has become a priority topic. The question remains: Can the continent move beyond the challenges posed by climate change and leverage the energy transition for economic transformation?

Africa Climate Academy
Cross section of the participants at the 1ST Africa Climate Academy

This question was central to the maiden edition of the Africa Climate Academy, held in Accra in October 2024. Organised by the Africa Centre for Energy Policy (ACEP), the one-week event brought together a diverse group of African policymakers, scientists, academics, civil society activists, and media professionals. The aim was to enhance knowledge, foster collaboration, and advocate for a sustainable future through dialogue on Africa’s contribution to addressing global climate and energy challenges.

Building a Network of Climate Practitioners

ACEP’s Executive Director, Benjamin Boakye, explained that the Academy seeks to establish a network of practitioners who can engage continuously on climate issues, challenge existing narratives, and explore opportunities for the continent. “We need to clarify misconceptions, unpack the current narratives, and determine how to optimise the climate conversation for the benefit of our people,” he stated.

Boakye emphasised that while Africans often question who is driving the climate agenda, others are capitalising on the situation by producing and exporting renewable energy technologies to the continent. “Africa has often been late and missed the resource boom, but not this time,” he remarked. He urged participants to think economically and become part of the energy transition, which offers new economic opportunities and a chance to lift the continent out of poverty.

The Reality of Climate Change

Head of the Department of Physics at the University of Ghana and Vice Chair of the Intergovernmental Panel on Climate Change (IPCC) Working Group I, Prof. Nana Ama Browne Klutse, highlighted the severe impact of climate change on human life. Citing evidence from the IPCC, she noted that regional temperatures are rising, extreme weather events are more frequent, and agricultural lands are being affected, making food scarce and expensive.

She expressed concern over the lack of progress in meeting international climate commitments, including the 2015 Paris Agreement. “Current Nationally Determined Contributions (NDCs) are insufficient to limit global temperature increases to below 2°C,” she warned and called for “urgent and ambitious action, including phasing out fossil fuels and increasing the use of nuclear and solar energy.”

Climate Action as a Human Rights Issue

A lecturer at the University of Professional Studies, Accra, Yome Ama Abledu, stressed that human actions are a significant driver of climate change, hence, climate action now increasingly framed as a human rights issue. “So, now, we can establish how climate action affects vulnerable populations, emphasize environmental justice and equitable transitions in climate policy,” she noted.

Acting Director of the Climate Change Unit at Ghana’s Environmental Protection Agency (EPA), Dr. Daniel Tutu Benefoh, facilitated a session on integrating climate change into development planning. He highlighted the need to focus on the most climate-vulnerable populations in Africa’s resource-rich regions.

Financing the Energy Transition

Regional Principal Officer at the African Development Bank, Dr. Olufunso Somorin, discussed the importance of scaling up climate finance for adaptation projects. He urged African nations to transition from a “being helped” mindset to a “partnership” approach, focusing on developing bankable projects and exploring innovative financial instruments beyond traditional grants and loans.

ACEP’s Dr. Charles Ofori underscored the economic opportunities presented by the energy transition but emphasised the need for intentional investment and policy support to fully realise these benefits.

Localising Green Technology and Strengthening Governance

Dean of the Faculty of Mechanical and Chemical Engineering at Kwame Nkrumah University of Science and Technology (KNUST), Prof. Francis Kemausuor, highlighted Africa’s potential for innovation in the green economy. He advocated for localising the value chains of emerging energy technologies.

Director of the Pan African Think Tank, Enzi Ijayo Africa Initiative, Charles Wanguhu, called for stronger governance frameworks and accountability mechanisms in climate action. He argued that this would ensure effective management of climate funds, promote transparency, and combat corruption, contributing to poverty reduction across the continent.

ACEP’s Policy Lead on Climate Change and Energy Transition, Kodzo Yaotse, emphasised the importance of collaborative approaches involving policymakers, media, civil society, and academia to build a climate-resilient Africa.

A Transformative Conclusion

The first edition of the Africa Climate Academy concluded on a positive note, with participants expressing having experienced a shift in perspective on how Africa can benefit from the energy transition. Many saw the gathering as a multidisciplinary task force, rich with ideas and expertise, capable of influencing research, shaping policy analysis, and providing advisory services to governments and the private sector in support of Africa’s energy transition.

In summary, the Africa Climate Academy has set a new standard for dialogue and action, challenging participants to rethink simplistic narratives and seize the opportunities presented by the green energy revolution.

By Ama Kudom-Agyemang

NNPC announces key leadership changes

Michael Simire
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NNPC announces key leadership changes

The Board of Directors of NNPC Limited on Wednesday, November 13, 2024, announced a series of strategic leadership appointments. These changes, according to the organisation, reflect its continued dedication to enhancing corporate governance, improving operational efficiency, and ensuring long-term success in Nigeria’s energy sector.

NNPC
Group Chief Executive Officer of NNPC Ltd, Mr Mele Kyari

The following key appointments have been made:

1. Mr. Adedapo A. Segun has been appointed as the Chief Financial Officer (CFO). Mr. Segun previously served as the Executive Vice President, Downstream, where he made significant contributions to the company’s downstream operations.

2. Mr. Isiyaku Abdullahi has been named Executive Vice President (EVP), Downstream.

3. Mr. Udobong Ntia has been appointed Executive Vice President (EVP), Upstream.

“These appointments align with NNPC Limited’s commitment to building a unified and competent leadership team to drive operational excellence and support the organisation’s strategic objectives.

“The Board and Management also extend their deepest appreciation to Mr. Umar Ajiya and Mrs. Oritsemeyiwa A. Eyesan for their outstanding dedication and service to NNPC Limited.

“NNPC Limited remains committed to achieving operational excellence, enhancing global competitiveness, and ensuring financial sustainability, while prioritising the interests of the Nigerian public in the petroleum industry,” the organisation submitted in a statement.

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