A Sustainable Investment in Journalism

A sustainable business requires diverse revenue streams. ESG Investor now operates a subscription service as of Tuesday 14th May. To find out more please get in touch with our subscription team on subscriptions@esginvestor.net

Africa Urged to Pick Solar Over Oil and Gas

African countries that are too dependent on fossil fuel exports in the short-term, as opposed to investing in the clean energy transition, are risking their longer-term energy security and economic stability, according to a new report by Carbon Tracker. Although oil and gas companies are currently enjoying a period of high profits, the think tank has estimated that those profits will be halved by 2040, due to decreasing demand as the world transitions to renewables, such as wind and solar. As a result, African nations would “be better advised to accelerate investment in renewables and low carbon alternatives”, the report said. The continent has an average standalone solar capacity factor of 17%, but currently only represents 2% of global utility-scale solar electricity generation, thus meaning there is huge opportunity to invest in the upscaling of solar energy capacity, it added. By transitioning to solar, African nations will both reduce the risk of being exposed to stranded fossil fuel assets and will be less reliant on importing from other energy-producing countries, Carbon Tracker said.  

The practical information hub for asset owners looking to invest successfully and sustainably for the long term. As best practice evolves, we will share the news, insights and data to guide asset owners on their individual journey to ESG integration.

Copyright © 2024 ESG Investor Ltd. Company No. 12893343. ESG Investor Ltd, Fox Court, 14 Grays Inn Road, London, WC1X 8HN

To Top