Dr. Akinwumi A. Adesina, the President of the African Development Bank (AfDB) has noted that the continent of Africa is the poorest when it comes to energy penetration. As such, he demanded world leaders to allow Africa to use its natural gas reserve for the betterment of the continent.
The 8th President of the African Development Bank noted that the right of African countries to use their natural gas reserves should be reflected in any deal at the COP27 climate talks, even as some nations push to see use of the fuel curtailed.
Dr. Adesina indicated that agreeing a deal on fossil fuels is among the key sticking points at the talks, with some countries including India keen to phase down the use of all such fuels, including gas.
“Africa must have natural gas to complement its renewable energy. We must recognise the special nature of Africa. Africa has the highest level of energy poverty in the world. My interest is how Africa uses natural gas as part of its energy mix to provide electricity for 600 million people today that don’t have access to electricity.”
Dr. Akinwumi A. Adesina
The AfDB President disclosed that even if Africa is to triple its production of natural gas from current levels, its contribution to global emissions would only rise by 0.67 percent.
AfDB Seeking to Raise US$25 Billion
Dr Adesina, moreover, disclosed that AfDB is seeking to raise US$25 billion through the African Adaptation Acceleration Program– the biggest created by any comparable lender. He added that the bank had also put 85 percent of its investments between 2016-2021 into renewable energy.
With the world currently on course to miss its climate goal of limiting global warming to 1.5 degrees Celsius above the pre-industrial average by mid-century, one focus at the conference has been on countries accelerating their shift to renewable energy. Still, natural gas is needed to balance out the electricity supply given the intermittent nature of renewables, he said.
Since the industrial revolution, developed countries have emitted around 2,400 gigatonnes of climate-damaging carbon emissions, leaving only around 400 gigatonnes if the world wants to hit its temperature goal, Dr Adesina iterated.
“And so Africa, that did not really emit, should not now be penalised for not even being able to use a little bit of gas to complement its natural resources.”
Dr. Akinwumi A. Adesina
The question of whether Africa should be allowed to exploit its gas reserves, estimated at more than 17.56 trillion cubic meters (620 trillion cubic feet) in 2021, has been much discussed at the ongoing UN climate change summit, COP27, in Sharm El-Sheikh, Egypt.
Meanwhile, Former US Vice President, Al Gore, used his speech at the opening session to urge an end to all fossil fuel investment globally, including in Africa. But Macky Sall, the President of Senegal and Chairperson of the African Union, argued that Africa needs space in Earth’s dwindling carbon budget to use its resources for development. The gas debate centres on two arguments, either for gas or against it.
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