Africa’s renewable future: the economic, political and climate cost of fossil fuels

As the sun sets in Africa, 600 million people do not have a light to turn on.

Despite having 60 percent of the world’s best solar resources, and over 30 percent of the essential minerals required for the world’s renewable technologies, the continent has received less than two percent of global renewable investment.

Energy is the key to African development, but the expansion of renewables goes beyond reliable energy as it is indispensable for both climate resilience, and the fight against poverty.

 People in Africa are still dependent on its land, which is vulnerable to climate change. just as the world awakens to Africa’s potential to pioneer the energy sector’s transformation – which would be of undeniable benefit to its people – governments across the continent are caving to the pressures of select international advocates lobbying to expand oil and gas production.

The problem is that African oil and gas fields are approximately 15-20 percent more expensive and 80 percent more carbon intensive than comparable global ventures. In addition, Africa’s fossil fuel markets have historically suffered from a ‘resource curse’; assets bound to guarantee a country’s wealth, have instead led to corruption and poverty caused by poor governance and weak institutions of state.

African countries which aim to re-invest in their non-renewable resources must take on enormous debt to subsidise investment, risk burdening their economies with stranded assets, and potentially lose the opportunity to invest in renewable infrastructure. All while locking in dangerously high emissions, and subsidising an energy product that their people cannot afford.

Africa must now make a decision on which direction to turn. But it is vital that rich nations must stop pushing fossil fuels on Africa, and instead pledge finance to help an Africa energy transition. Energy is vital for Africa , but it must come in a form that can be of benefit to everyone.

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For more information contact: info@scarabtrust.org.uk

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