KPMG has released a new report highlighting Africa’s significant investment opportunity in renewable energy, detailing nearly $250-billion untapped green investment opportunities in areas such as solar, wind, and hydrogen. As it stands, Africa will need $277-billion annually between 2020 and 2030 to reach its Paris Agreement targets and implement its Nationally Determined Contributions – to contribute to limiting global warming to 1.5°C – according to the Climate Policy Initiative.
Despite this, it currently only receives $29,5-billion in annual climate finance revealing the significant inflows of both public and private finances required from domestic and international sources. The report – “Climate Investing in Africa” – reveals that as Africa fast approaches an anticipated period of economic prosperity, and as a home to mineral and resource rich land, there is an obvious yet untapped investment opportunity for private sector financier
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