US-Africa summit in Washington: Finance will help Africa over the just energy transition hurdle

US President Joe Biden hosted the US-Africa Leaders Summit in Washington recently with almost 50 African leaders in attendance. Among the points of discussion were the climate change, finance, health and political challenges faced by Africa.

A major talking point was how the US can help Africa get over the hurdle of a just energy transition. “We’re taking on the climate crisis, prioritising not just energy transition in America but in nations of all of Africa and meeting the urgent needs of countries to adapt to the climate impacts that are already here,” Biden said. “Just last month, I travelled to COP27 in Egypt where I announced $150 million in an effort to support adaptation efforts in Africa, a down payment on my commitment to provide $3 billion annually to global adaptation efforts for 2024.

Biden noted the US’s commitment to help South Africa to mobilise $8 billion in public and private finance to “replace coal-fired power plants with renewable energy sources and develop cutting-edge energy solutions like clean hydrogen”. He also mentioned a $2 billion deal for solar projects in Angola.Subscribe to the M&G today for just R30 for the first three months* to gain access to this story and all our best journalism, subscriber-only newsletters, events and a weekly cryptic crossword.

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