Renewable energy is vital for Africa’s population where hundreds of millions still lack access to reliable and affordable electricity.
“As the continent that has contributed least to the climate crisis, Africa deserves the strongest possible support and solidarity”,António Guterres, UN Secretary-General
Failing old models
Africa is blessed with abundant and untapped renewable resources. However, it has received just two percent of global investments in renewable energy over the past decade.
Part of the problem comes from old models of development and energy use which have failed to provide Africans with universal energy access. Hence, hundreds of millions of people still lack reliable and affordable electricity or are cooking with polluting and harmful fuels.
“We can provide universal access to energy in Africa primarily through renewable energy. I call for a comprehensive package of support to meet this objective ahead of COP26. It is achievable. It is necessary. It is overdue. And it is smart: climate action is a $3 trillion investment opportunity in Africa by 2030,”António Guterres, UN Secretary-General
Major finance gap
However, the Secretary-General pointed to “the major finance” gap blocking progress towards this goal. He urged developed countries to deliver on their $100 billion climate commitment made over a decade ago.
“Developed countries and main financers must ensure a swift shift of the billions to support African green investments, to increase resilience and to create the conditions for scaled-up private finance and the private sector must step up and get organized to provide immediate, concrete solutions to governments. Local authorities can work with unions and community leaders on reskilling and social security nets.”António Guterres, UN Secretary-General