- He said apart from Africa having 70 per cent of its population under the age of 30, the continent boasts of huge arable land
- Renewable energy is derived from natural sources that are replenished at a higher rate than they are consumed
Civil society groups have said there is a need to tax billionaires and fossil fuel profiteers to fund the scaling up of renewable energy.
They said taxing the rich will help fund African countries reeling from impacts of climate change transition to clean energy.
“Green energy in Africa is 50 times greater than anticipated global electricity demand for the year 2040,” said Landry Ninteretse from 350Africa.org.
He said there is huge potential for renewable energy in the Africa.
However, there are no resources to tap into that potential.
“Over 600 million people cannot access electricity in Africa,” Ninteretse said.
He said apart from Africa having 70 per cent of its population under the age of 30, the continent boasts of huge arable land.
Renewable energy is derived from natural sources that are replenished at a higher rate than they are consumed.
Sunlight and wind, for example, are such sources that are constantly replenished.
Renewable energy sources are plentiful.
Fossil fuels—coal, oil and gas—are on the other hand, non-renewable resources that take hundreds of millions of years to form.
When burned, they produce energy and harmful greenhouse gas emissions such as carbon dioxide.
A recent report by the International Energy Agency says since 2004, renewables in Africa have attracted $63.8 billion (Sh8.2 trillion) in investment.
However, renewable energy investment in Africa is lagging.
In 2022, the continent received only 0.8 per cent of the $495 billion (Sh64.6 trillion) invested in renewables globally.
To meet climate policies and pledges, a cumulative investment of $741 billion (Sh96.7 trillion) to $1.66 billion (Sh217 billion) is required by 2050.
This equates to an average investment gap of $21–53 billion (Sh2.7 trillion to Sh6.9 trillion) per year from 2022 levels.
The report says total energy investment worldwide is expected to exceed $3 trillion (Sh392 trillion) in 2024 for the first time.
Rehema Peter from Partnerships for Green Future said policies and vision need to reflect grassroots realities.
She said the capacity of solar energy alone in the continent is 13.5 gigawatts.
“Solar accessories should be manufactured in Africa,” she said.
Agnes Hall from 350Africa.org said even as countries in Africa wait for the billionaires to be taxed, the impacts of climate change are heightening.
“We need to cut global emissions. To do that, we need a just and rapid transition to renewables. Finance is the primary barrier to renewable energy in the Global South,” Hall said.
She said there is need to have an ambitious needs-based climate finance goal at the forthcoming Conference of Parties (CoP29).
“We must tax the billionaires. 350.Africaorg has introduced a new campaign called ‘Tax Their Billions,” Hall said.
The 2024 UN Climate Change Conference (UNFCCC COP 29) will convene from November 11 to 22 in Baku, Azerbaijan.
Experts said although Africa contributes just four per cent of global CO2 emissions, it has been suffering the most from the impact of climate change.
The increasing frequency and intensity of global climate impacts underscore the urgent need for a just transition from fossil fuels to renewable energy alternatives.
Experts say Africa is home to 17 of the 20 countries most threatened by climate change, facing severe events such as prolonged droughts, heavy rains, deadly floods, heat waves and tropical cyclones.
Recently, East Africa experienced severe rains from March to May, causing significant flooding, fatalities, displacement and infrastructure damage in Tanzania, Kenya and Burundi.
Despite these alarming trends, the experts said there are ongoing plans to expand fossil fuel infrastructure, such as the East African Crude Oil Pipeline, which is expected to have devastating impacts on both people and the planet.
However, communities are resisting these harmful projects and promoting sustainable energy initiatives, sparking a renewable energy revolution.
During the webinar, the civil society groups launched a new campaign aimed at calling on financiers and governments to prioritise and increase investments in affordable and clean energy for all was launched on Thursday.
The campaign known as Repower Africa aims at connecting regional communities, especially those at the forefront of the crisis with renewable energy projects.
The Repower campaign will feature symbolic actions in countries that are already leading renewable energy campaigns with 10 gatherings across Uganda and Tanzania.
The goal is to consolidate all forces and voices campaigning for sustainable energy initiatives, sparking a renewable energy revolution on the continent.
The civil society said governments and financiers must step up and invest in clean, affordable, community-led energy solutions in Africa.