Emerging economies, particularly in Africa, would require an additional $1tn of investment per annum by 2030 to support a fair transition, it said.
It however, said to mobilise this scale of capital, the world needed bold actions and innovative new partnerships between public, private, and philanthropic actors. According to the statement, recent trends showed a decrease in renewable energy investment to emerging and developing economies. “Africa’s green revolution required urgent, immediate and significant funding that is larger than the resources available to African governments, and private sector,” it said.
It added that, Elumelu, who would be representing the African private sector, was invited to the forum by UK Secretary of State for Energy Security and Net Zero, Grant Sharps; and the US Special Presidential Envoy on Climate, John Kerry. The invitation came at the request of King Charles III and US President Joe Biden.All rights reserved.
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