350Africa.org: Africa’s green transition needs practical action, not talk

As global leaders make commitments towards delivering solid contributions for climate action, negotiators are worried about the failure by rich countries to honor their global pledges. CNBC Africa recently had an insightful conversation with Charity Migwi, Regional Campaigner at 350AFRICA.ORG, who highlighted the pressing need for practical action in Africa's green transition. Migwi pointed out the glaring disparity in climate finance allocation, emphasizing that only two percent is dedicated to renewable energy projects on the continent. Meanwhile, the fossil fuel industry receives a staggering annual subsidy of seven trillion USD, despite being major contributors to climate change. Migwi emphasized the urgency of channeling these funds towards clean, sustainable, and renewable energy initiatives to combat the climate crisis effectively. Migwi underscored the importance of political will from African leaders and urged global north countries to acknowledge and take responsibility for their fair share of emissions. She called for stringent measures to hold polluters accountable by making them pay for their emissions and redirecting these funds towards a green transition. Migwi emphasized that immediate action is required, rather than waiting for distant targets like 2050 net zero goals. Moreover, Migwi highlighted the struggles faced by African governments due to high levels of indebtedness, making it challenging to allocate resources towards climate finance and renewable energy projects. She urged African leaders to rethink their approach to funding and shift focus from investments in fossil fuels to renewable energy. Migwi expressed disappointment in financial institutions like the Africa Development Bank (AFDB), citing instances where investments were considered for gas projects in Africa. She emphasized the need for a shift towards solutions that prioritize Africa's needs while moving away from fossil fuel dependency. Concerns were raised about investments in projects like the East African crude oil pipeline, worth about 5 billion USD, with Migwi advocating for redirecting financial support towards sustainable energy projects such as solar and wind. She commended the 27 banks that had already ruled out involvement in the pipeline project and called upon others to follow suit in supporting environmentally-friendly initiatives. It is evident that Africa stands at a critical juncture in its green transition journey, and urgent action is imperative to address the pressing challenges posed by climate change. With the wealth of renewable resources available on the continent, tapping into solar and wind energy presents a viable and sustainable path towards meeting energy needs while preserving the environment. As calls for practical action grow louder, stakeholders must prioritize green initiatives and redirect investments towards a cleaner, greener future for Africa.