Africa Climate Summit to Drive Green Energy Transition

The first Africa Climate Summit (ACS), taking place 4-6 September in Nairobi, must be a catalyst for investment and collaboration around renewable energy, according to a group of philanthropic and finance sector bodies. The Global Energy Alliance for People and Planet (GEAPP) said the summit would highlight how Africa can “play a pivotal role in bringing innovative technologies and solutions to the global climate and green energy imperative”. “The summit has put the opportunity to invest in Africa’s green energy, technology and innovation resource at the forefront of the global discussion. By working together, we can expedite the transition to clean energy and foster sustainable economic growth essential for Africa and the global community,” said former Nigerian Vice President Professor Yemi Osinbajo, also now Global Adviser to GEAPP, a sponsor of the event. According to the International Energy Agency, Africa has 60% of the best solar resources globally, but only 1% of installed solar photovoltaic (PV) capacity. Further, the continent currently receives just 12% of the US$250 billion in climate investments it needs per year. According to the UN, African countries contribute only about 3% of global carbon emissions. Expected outcomes from the ACS include a Nairobi Declaration by African political leaders on a green growth and climate finance agenda. GEAPP is an alliance of 20 partners founded at COP26 by the IKEA Foundation, The Rockefeller Foundation and the Bezos Earth Fund. Since launch 18 months ago, GEAPP has invested more than US$150 million in sub-Saharan Africa to assist its green energy transition.

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