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Africa-focused player confirms acquisition talks | Upstream - Upstream Online
Africa-focused player confirms acquisition talks | Upstream
Iain EsauAfrica correspondent at UpstreamFinanceAfrica-focused player confirms acquisition talksVaalco Energy targeting purchase of company with key asset in Ivory CoastVaalco Energy could be heading to pastures new in the Ivory Coast whose president is Alassane Ouattara.Photo: AFP/SCANPIXIain EsauAfrica Correspondent | London
Related Knowledge Center: Climate economics
State of Play
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”