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Africa Has Potential To Be Climate Positive Growth Leader, Helping The World Reverse Climate Change

COP28: Prof. Yemi Osinbajo, SAN, GCON speaks on Climate Positive Growth: Africa as a Climate Action Partner for the UAE and for the world at New York University, Abu Dhabi Campus "I will be speaking for a few minutes on the topic “Climate Positive Growth: Africa as a Climate Action Partner for the UAE and the world.” We are at a crucial moment in the energy transition journey. It is evident that at the rate we are going on the journey to net zero, we have no chance of meeting the target. Yet we miss the target at the peril of our world as we know it if science is to be believed. Not far from here as we speak, many of the world’s political, private sector, civil, society and private sector leaders are assembled to discuss and negotiate these same questions at the annual UN Climate Conference, COP28. 28, let that number sink in; the 28th UN annual climate conference. For many years, the science has been crystal clear: if we do not curb emissions – and get to net zero by 2050 – we risk the apocalyptic consequences for life on earth. 2023 has driven this point home by breaking many weather devastation records. So why has it taken 28 annual rounds of painful negotiations just to be where we are now, which is still very far from where we need to be? I would argue that one of the key reasons is that climate action has long been seen, as too costly. It is generally believed that climate action and economic growth are incompatible: to realise effective climate action, you have to sacrifice growth. And that is a price developed countries are generally not willing to pay, and emerging and developing economies are simply unable to pay. It is time to collaborate with one another in thinking outside the box. No matter how we slice it, Africa will play a key role in that collaboration. One in every 4 human beings born by 2040 will be African. Africa today is the fastest warming region, which means it is the most exposed to the potential devastation of climate change. Africa is also aspiring to the middle to high-income status for its peoples But if Africa were to develop by the same carbon-intensive pathway employed by the wealthier countries, then the world would never achieve net zero. Why? Africa will annually pump 9.4 gigatonnes of CO2e into the atmosphere. Africa would go from being a mere rounding error in global emissions to representing as much as 75% of global emissions. In many senses, Africa can become the nemesis of the world or an important partner in solving the problem. How will that work? Africa can be the solution because it can develop without increasing carbon emissions, and not even keeping it constant but actually reducing emissions. So I will argue today that economic growth and effective climate action can work together and that is possible through Climate Positive Growth. This is the ability to realise economic growth through climate action. Africa has the potential to be a Climate Positive Growth leader, helping the world arrest and reverse climate change – while developing to middle – high-income status and beyond. My position is that this is a clear possibility with global collaboration. What is the case for Climate Positive Growth? The first is somewhat ironic and that is Africa’s low industrial base and its low carbon footprint which can be an advantage, enabling the continent to develop greenfield clean energy manufacturing, saving it the cost of abandoned legacy carbon-intensive manufacturing projects, and by pursuing an industrialization pathway that focuses on using renewable energy of which Africa has the most potential. Africa is home to 60% of the world’s best solar resources – and, in addition, has abundant wind, geothermal, and hydro potential. Its untapped renewable energy potential is 50 times the anticipated global demand for electricity in 2040. Also, Africa has the youngest and fastest growing workforce on the planet and with its massive natural resources, including arable land and critical mineral assets, it can develop the first green industrial civilization, greening global manufacturing and supply chains and removing carbon from the air. In other words, Africa is perhaps the only region today, ironically on account of its low development base that can truly achieve green growth, and economic growth without growing emissions, or even keeping emissions constant, but actively addressing the reduction of emissions and the concentration of greenhouse gases in the atmosphere." **************** The official YouTube channel for Prof. Yemi Osinbajo, SAN, GCON. Oluyemi Oluleke Osinbajo is a Nigerian Lawyer and Politician who served as the Vice President of Nigeria from the 29th of May 2015 - 29th of May 2023 Follow Prof. Osinbajo online: Website: www.yemiosinbajo.ng Facebook: Professor Yemi Osinbajo Twitter: @ProfOsinbajo Instagram: @ProfOsinbajo TikTok: @ProfOsinbajo