BY ODIANOSEN BELIEVE OSEMUAHU
Former Nigerian Vice President, Prof. Yemi Osinbajo wants the world to know that the black continent has a great solution to global net zero ambitions.
According to him, Africa should not be left behind when the world finds solutions to attain a global clean energy future.
“The point we must repeatedly make is that Africa is either the nemesis or a fundamental part of the solution to global net zero ambitions. For the world to achieve those objectives, it cannot afford to have Africa attain middle to upper-middle-class status along the same carbon-intensive trajectory that wealthier countries have followed,” Osinbajo said.
“To strike the critical balance, Africa must grow without increasing emissions or reducing them. This is the Climate Positive Growth paradigm. It implies, inter alia, that Africa must become the global hub for green industrialization, green manufacturing, and global supply chains.
“We hold nearly 40% of global renewable energy resources, nearly 30% of critical minerals, and a large young workforce. It makes sense, for example, to locate green data centres and Direct Air Capture facilities in Africa; such facilities require substantial energy but are location-agnostic.
“Many African countries have made significant progress with their green hydrogen projects. Aside from export, it makes sense to use that energy for beneficiation where the raw ores are—green aluminium and green steel are great examples.
“Of course, there will be considerations around the cost of capital and mitigation of risk factors usually unfairly associated with investments in Africa, but with clarity of purpose and creativity, these are surmountable challenges.”
