Today, the three organisations presented the joint report Towards a prosperous and sustainable Africa: maximising the socio-economic gains of Africa's energy transition during the 7th EU-Africa Business Forum (EABF22)
Fundamental to providing reliable, affordable and sustainable electricity access to all, renewable investments at scale can contribute to supporting Africa's sustained economic growth, strengthening local value chains and promoting the creation of local jobs. In order to deepen this topic, RES4Africa Foundation, the International Renewable Energy Agency (IRENA) and the United Nations Economic Commission for Africa (ECA) developed their first joint report Towards a prosperous and sustainable Africa: maximising the socio-economic gains of Africa's energy transition, presented today (Feb 18) in the occasion of the European Union-Africa Business Forum.
Building on the knowledge and experience of the three organisations, the study is a comprehensive analysis of the job and socioeconomic impact of clean energy investments in the African continent, combining the views and experiences of leading international institutions active in supporting development, sustainable economic transition and renewable energy development in emerging economies. The report opens with a review of the socio-economic gains of sustainable energy access in Africa, followed by an assessment and quantification of the socio-economic potential of Africa's energy transition in line with maintaining the global temperature increase under 1.5 °C. The third chapter explores the role of private sector actors in supporting the sustainable transformation of Africa's energy systems and its socio-economic progress. The report closes with a series of recommendations at the institutional, policy, financial, and business levels to accelerate investments in clean energy technologies and maximise local value creation.
"Representing only 2% of global renewable energy capacity added in the last decade, Africa is not only missing the opportunity to ensure access to affordable, reliable, and clean energy to all, but also benefits from the wider positive socio-economic impact of renewable energy development" said Roberto Vigotti, RES4Africa's Secretary General "With this joint effort, RES4Africa, IRENA and UNECA provide an overview of the future of Africa's socio-economic prosperity, identifying the opportunities that Europe and Africa have to ensure a sustainable future leaving no one behind."
"Africa has a lot to offer to and benefit from the global energy transition as laid out by IRENA's 1.5°C Scenario. With tremendous potential of renewables and human resources, Africa's shift to clean, modern energy is set to achieve substantial gains in GDP, employment, and human welfare. IRENA is ready to stand with Africa to put actions in motion by facilitating stronger international cooperation to mobilise political and financial support," added Francesco La Camera, IRENA Director-General.
United Nations Under-Secretary-General and Executive Secretary of the ECA, Vera Songwe, stated that "Our energy transition goals in Africa must be aligned with the development aspirations of member States. We must ensure investment in infrastructure that allows for manufacturing and value creation in green energy technologies, while availing de-risking instruments to member States to mitigate the cost of investment in energy projects."
RES4Africa Foundation (Renewable Energy Solutions for Africa) envisions the sustainable transformation of Africa's electricity systems to ensure reliable and affordable electricity access for all, enabling the continent to achieve its full, resilient, inclusive and sustainable development. The Foundation's mission is to create favourable conditions for scaling up investments in clean energy technologies to accelerate the continent's just energy transition and transformation. See more: www.res4africa.org
The International Renewable Energy Agency (IRENA) serves as the principal platform for international cooperation, a centre of excellence, a repository of policy, technology, resource, and financial knowledge and a driver of action on the ground to advance the transformation of the global energy system. A global intergovernmental organisation established in 2011, IRENA promotes the widespread adoption and sustainable use of all forms of renewable energy, including bioenergy, geothermal, hydropower, ocean, solar, and wind energy, in the pursuit of sustainable development, energy access, energy security, and low-carbon economic growth and prosperity.
The United Nations Economic Commission for Africa (UNECA) Established by the Economic and Social Council (ECOSOC) of the United Nations (UN) in 1958 as one of the UN's five regional commissions, UNECA's mandate is to promote the economic and social development of its member States, foster intra-regional integration, and promote international cooperation for Africa's development. Made up of 54 member States and playing a dual role as a regional arm of the UN and as a key component of the African institutional landscape, UNECA is well-positioned to make unique contributions to address the continent's development challenges. UNECA's mission is to deliver ideas and actions for an empowered and transformed Africa, informed by the 2030 Sustainable Development Agenda and Africa's Agenda 2063.
RES4Africa Foundation
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00198 Rome, Italy
+39 068552236
antonella.siliotto@res4africa.org
stefano.giacci@res4africa.org
For more information
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www.irena.org
