Newsletter, Energy & Natural Resources

Energy and Natural Resources Report Volume 1

While Energy Transition is not a recent phenomenon, its global momentum and prominence have notably surged since the adoption of the Paris Agreement at COP 21 in 2015. Faced with the pressing challenges of climate change, the Paris Agreement received widespread acceptance from majority of nations around the world and has culminated in the introduction and implementation of various measures to address climate change both on the international scene and domestically. Africa, responsible for roughly 4% of global carbon emissions, has been tagged the world’s most vulnerable region to the adverse impacts of climate 2 3 change. Despite being host to about 30% of the world’s mineral reserves as at 2022 Africa had approximately 431 million people living below 5 extreme poverty line and 43% of its total population lacking access to 6 energy.

Confronted by extreme poverty and significant electricity deficit, many oil-rich African nations found themselves at crossroads on the global transition train. Recognizing that sustainability entails addressing current needs while preserving the ability of future generations to meet their own needs, African leaders have consistently advocated for the adoption of a ‘just transition’. This approach leverages readily available resources, including fossil fuels, towards meeting developmental needs, building capacity, and funding a gradual shift to clean energy…

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