Renewables in Africa are losing ground: a proposal for a practical climate finance instrument
Published in Energy Post, Energi og Klima and Energy Collective.
If the One Planet Summit in Paris on 12 December is to meet its expectations, it must lead to a new cost- and carbon-efficient instrument to support decentralised renewable electricity generation across Africa.
Although President Emmanuel Macron has chosen to name his climate event this week “One Planet, One Summit”, cynics may be forgiven to discard the initiative as yet another number in a stream of climate summits these times.
For governments and developers in Africa seeking to finance much-needed clean energy power, little has changed since developed nations in 2009 pledged to commit $100 billion annually by 2020 to lesser developed countries to address climate change, a promise reiterated at Paris in 2015.