The China Mail - Africa sounds caution on net zero goal ahead of COP27

USD -
AED 3.672965
AFN 65.999823
ALL 81.973818
AMD 378.00985
ANG 1.79008
AOA 916.511164
ARS 1442.469496
AUD 1.434278
AWG 1.80125
AZN 1.699162
BAM 1.658807
BBD 2.01469
BDT 122.336816
BGN 1.67937
BHD 0.376973
BIF 2964.288592
BMD 1
BND 1.274003
BOB 6.911584
BRL 5.251601
BSD 1.000305
BTN 90.399817
BWP 13.243033
BYN 2.865297
BYR 19600
BZD 2.011721
CAD 1.367115
CDF 2224.999817
CHF 0.776805
CLF 0.021856
CLP 863.009886
CNY 6.94215
CNH 6.934675
COP 3676.17
CRC 495.911928
CUC 1
CUP 26.5
CVE 93.521
CZK 20.552402
DJF 177.719721
DKK 6.326605
DOP 63.127629
DZD 129.973054
EGP 46.981498
ERN 15
ETB 155.859732
EUR 0.84726
FJD 2.207598
FKP 0.732184
GBP 0.737655
GEL 2.689985
GGP 0.732184
GHS 10.98271
GIP 0.732184
GMD 73.502091
GNF 8779.176279
GTQ 7.672344
GYD 209.27195
HKD 7.813565
HNL 26.422344
HRK 6.385297
HTG 131.225404
HUF 321.370501
IDR 16868
ILS 3.119945
IMP 0.732184
INR 90.26125
IQD 1310.388112
IRR 42125.000158
ISK 122.679683
JEP 0.732184
JMD 156.449315
JOD 0.708986
JPY 156.790501
KES 129.04009
KGS 87.450416
KHR 4037.199913
KMF 416.999986
KPW 900.030004
KRW 1464.645025
KWD 0.30738
KYD 0.833598
KZT 493.342041
LAK 21499.694667
LBP 89579.400015
LKR 309.548446
LRD 186.059136
LSL 16.159927
LTL 2.95274
LVL 0.60489
LYD 6.336511
MAD 9.181029
MDL 16.999495
MGA 4425.634414
MKD 52.243296
MMK 2099.783213
MNT 3569.156954
MOP 8.049755
MRU 39.901106
MUR 46.040016
MVR 15.45987
MWK 1734.461935
MXN 17.38677
MYR 3.94699
MZN 63.759665
NAD 16.159927
NGN 1368.070025
NIO 36.809608
NOK 9.75406
NPR 144.639707
NZD 1.670341
OMR 0.384513
PAB 1.000314
PEN 3.362397
PGK 4.348453
PHP 58.765016
PKR 280.076588
PLN 3.57705
PYG 6605.373863
QAR 3.645678
RON 4.314401
RSD 99.47298
RUB 76.750352
RWF 1459.984648
SAR 3.750122
SBD 8.064647
SCR 13.712043
SDG 601.500193
SEK 9.01919
SGD 1.273205
SHP 0.750259
SLE 24.549692
SLL 20969.499267
SOS 570.633736
SRD 37.869854
STD 20697.981008
STN 20.779617
SVC 8.752036
SYP 11059.574895
SZL 16.152192
THB 31.761025
TJS 9.362532
TMT 3.505
TND 2.89846
TOP 2.40776
TRY 43.539165
TTD 6.773307
TWD 31.651501
TZS 2585.000268
UAH 43.163845
UGX 3570.701588
UYU 38.599199
UZS 12269.30384
VES 377.98435
VND 25970
VUV 119.687673
WST 2.726344
XAF 556.374339
XAG 0.01318
XAU 0.000206
XCD 2.70255
XCG 1.802745
XDR 0.691101
XOF 556.348385
XPF 101.150088
YER 238.324994
ZAR 16.1985
ZMK 9001.195771
ZMW 18.580528
ZWL 321.999592
  • SCS

    0.0200

    16.14

    +0.12%

  • RBGPF

    0.1000

    82.5

    +0.12%

  • BTI

    0.3300

    61.96

    +0.53%

  • CMSD

    0.0200

    23.89

    +0.08%

  • RELX

    0.3100

    30.09

    +1.03%

  • CMSC

    0.0300

    23.55

    +0.13%

  • GSK

    1.9400

    59.17

    +3.28%

  • RIO

    -5.3600

    91.12

    -5.88%

  • NGG

    -0.9000

    86.89

    -1.04%

  • BCC

    -1.0700

    89.16

    -1.2%

  • RYCEF

    -0.0600

    16.62

    -0.36%

  • BP

    -1.0300

    38.17

    -2.7%

  • BCE

    -0.7700

    25.57

    -3.01%

  • VOD

    -1.0900

    14.62

    -7.46%

  • AZN

    -0.2900

    187.16

    -0.15%

  • JRI

    -0.1500

    13

    -1.15%

Africa sounds caution on net zero goal ahead of COP27
Africa sounds caution on net zero goal ahead of COP27 / Photo: © AFP

Africa sounds caution on net zero goal ahead of COP27

Africa needs time and money to wean itself off fossil fuels in order to achieve net zero without jeopardising its future, its representatives are warning ahead of next month's climate talks.

Text size:

At energy conferences this week, Ghana, South Africa and the African Union have insisted the continent stands by net zero -- the goal of an overall balance in heat-stoking greenhouse gases.

But they warned that the continent was still heavily dependent on coal, oil and gas to power its development.

"Africa is fully convinced and committed to a net zero and supportive of the climate agenda, however. where we may differ is on the timeframe," African Union (AU) energy commissioner Amani Abou-Zeid told AFP on the sidelines of the Green Energy Africa Summit in Cape Town.

Africa's population of 1.3 billion is set to double by 2050, and AU nations aim to make affordable and reliable energy available to everyone by 2063, she argued.

Funding for Africa's green transition is likely to be a flashpoint at the COP27 climate summit, running in the Egyptian resort of Sharm el-Sheikh from November 6-18.

Under the 2015 Paris Agreement, rich nations pledged $100 billion a year to help developing countries limit climate change.

But they have so far failed to meet the promise -- and prospects have been further clouded this year by the resounding economic impacts from the Covid-19 pandemic and war in Ukraine.

- 'Not in our interest' -

Ghana's deputy energy minister Mohammed Amin Adam said international green energy investment in Africa was "still appalling", accounting only for about two percent of the global total.

At the same time, African countries also need to secure financing for oil and gas projects, as fossil fuel revenue is needed to finance climate adaptation measures, he told AFP.

Adam pointed to data showing that most of Africa's oil and gas producers depended greatly on export revenue derived by these fuels.

"If we give up this, how do we even finance our ability to adapt to the climate effects? We cannot. Unless we have a substitute for our revenue," he said.

African countries are among the most exposed to the impacts of climate change, especially worsening droughts and floods, but responsible for only around three percent of global CO2 emissions, former UN chief Ban Ki-moon said last month.

- S.African coal -

Speaking at an Africa Oil Week event in Cape Town, South African Energy Minister Gwede Mantashe said ditching coal too quickly was not in the country's best interests, as it would damage the economy and cost thousands of jobs.

South Africa is the continent's main coal producer and consumer -- as well as one of the world's top 12 carbon emitters.

Last year, the government secured pledges of $8.5 billion loans and grants from a group of rich nations to finance the transition to greener alternatives.

But the deal is hanging in the balance, amid fraught negotiations with donor countries around how the money should be spent.

"When developed economies come to us and say 'part of the $8.5 billion is going to be spent on accelerating the exit of coal', I feel that is not in our interest," Mantashe said.

At pre-COP27 talks in Kinshasa this week, the Democratic Republic of Congo fended off demands to abandon oil and gas blocks that it has put up for auction in environmentally sensitive areas.

The DRC launched bids in July for 30 blocks in the Congo Basin, sparking fears that drilling could release carbon dioxide trapped for millennia in the peaty forest floor.

But DRC Environment Minister Eve Bazaiba, opening the talks on Monday, asked if the government should let children die rather than harvest from its fossil resources.

"As much as we need oxygen, we also need bread," she said.

R.Yeung--ThChM