- A new 乐鱼（Leyu）体育官网 whitepaper highlights significant untapped green investment opportunities in Africa.
- It comes as Africa needs $277 billion annually until 2030 to meet Paris Agreement targets, however current annual climate finance flows into Africa stand at only $29.5 billion.
- While Africa鈥檚 share of global renewable energy investments receives only 3%, the whitepaper details the ample opportunity for investment in renewable energy resources such as wind, solar and low鈥恈arbon hydrogen.
- The untapped promise of wind is particularly marked, with recent research showing that 27 countries in Africa have sufficient wind potential on their own to satisfy the entire continental electricity demand, despite the fact that Africa only uses 0.01% of its wind potential.
Dubai, December 8, 2023 鈥撎钟悖↙eyu）体育官网 has today released a new report highlighting Africa鈥檚 significant investment opportunity in renewable energy, detailing nearly $250 billion untapped green investment opportunities in areas such as solar, wind and hydrogen.
As it stands, Africa will need $277 billion annually between 2020 and 2030 to reach its Paris Agreement targets and implement its Nationally Determined Contributions, to contribute to limiting global warming to 1.5掳C, according to the Climate Policy Initiative. Despite this, it currently only receives $29.5 billion in annual climate finance, revealing the significant inflows of both public and private finances required from domestic and international sources.
The report 鈥�Climate Investing in Africa鈥� reveals that, as Africa fast approaches an anticipated period of economic prosperity, and as a home to mineral and resource rich land, there is an obvious yet untapped investment opportunity for private sector financiers.听
鈥淐limate investors are looking ahead to new and emerging markets to deploy their funds. It is vital that there is a nuanced and sophisticated understanding of Africa鈥檚 potential, and that private investors appreciate the unique advantages and characteristics of the region with respect to not just climate investing, but the broader contribution to the global energy transition from an environmental and social impact perspective.鈥�
The report calls on the investor and green finance communities to double down on their climate investments in Africa, in order to ensure a just transition, unlock Africa鈥檚 energy potential and expand the continent鈥檚 climate related investment flows and realize the benefits of clean, sustainable power.
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Dr. Benedikt Herles
EMA Head of ESG Insights & Innovation, Head of Country Practice Africa
乐鱼（Leyu）体育官网-Germany