Africa’s push for oil and gas [Gas in Transition]
Africa’s push for oil and gas [Gas in Transition]
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Natural Gas News
Africa’s push for oil and gas [Gas in Transition]
Summary
Africa needs to develop its oil and gas resources along with clean energy as a means of energy poverty alleviation and acceleration of energy transition. by: Charles Ellinas
Africa went to COP28, the UN climate conference held early December in Dubai, with clear goals. It was organised with the African Group of Negotiators (AGN) chaired by Zambia speaking on behalf of the continent. The key issues for Africa were: a just energy transition, climate change finance and funding for adaptation. African countries demand the right to develop their oil and gas resources, particularly gas as a transition fuel, to enable them to industrialise before reinvesting any gains in low-carbon energy projects. Many Africans consider energy access as more important than climate change concerns. Judging from the outcome, Africa came out of COP28 quite successful. Climate finance received strong support, with the ‘loss & damage fund’ becoming operational, albeit with funding levels still unclear. But equally importantly the need for a ‘just transition’ received strong recognition. The right of countries to “transition in a just, orderly and equitable manner” was recognized in the final COP28 report, but also “that strategies related to just transition and economic diversification should be implemented taking into account different national circumstances and contexts.&rdquo...
Related Knowledge Center: Climate economics
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.”