Sep 14 2023 31 mins
With both population and economy growing, Africa shall pursue a leapfrogging strategy in achieving the net zero energy system in the next three decades. However, some significant factors need to be addressed, like upscaled investment, accelerated deployment of low carbon energy technology, and international financial support.
In this episode, Jean-Benoit Fournier, a Canadian expert on climate financing and strategy, shares his observations and thoughts based on his first-hand experience on climate mitigation projects in African countries. He suggests that micro-financing in renewable energy projects need to scale up and be implemented in a smart way with focuses on community empowerment and sustainability criteria. Regarding the new financing scheme on phasing out coal faster between South Africa and G7 plus E.U., Fournier considers it a good model, but how effective the cooperation is carried out needs to be seen.
The African Union just became a permanent member of G20 at the G20 Summit in India. This big move may not only bring up African voice in global geopolitics but also trigger African climate ambitions as well as climate-friendly investments from outside. Now, African leapfrogging in climate mitigation is probably more achievable than before.