Harare — Germany Commits €40 Million to African Development Bank Group’s Climate Action Window Initiative for Fragile African States
Germany has committed €40 million (U.S.$41,3 million) to the African Development Bank Group’s Climate Action Window, German State Secretary for Economic Cooperation and Development Jochen Flasbarth has announced. At the 27th session of the UN Climate Change Conference (COP27) in Sharm El Sheikh, Egypt, Flasbarth made the announcement during a ministerial panel for climate-vulnerable nations and supporters of adaptation funds. The discussion, Putting good quality adaptation funding in the limelight at COP27, was organised by the High Ambition Coalition. The Climate Action Window is an initiative of the African Development Fund, the African Development Bank Group’s concessional lending window to low-income African states. It is mobilising up to $13 billion for climate adaptation for some 37 low-income and fragile states, the worst hit by climate change.
Green Hydrogen Could Sustainably Industrialise Africa
Green hydrogen, according to new research from the Africa Green Hydrogen Alliance (AGHA) and McKinsey, could sustainably industrialise Africa and increase GDP by 6 to 12% in six key nations. It concludes that by 2050, green hydrogen could increase the GDP of Egypt, Kenya, Mauritania, Morocco, Namibia, and South Africa by U.S.$126 billion, equivalent to 12% of these countries’ current GDP. In order to unlock the necessary investment, AGHA, with the backing of the UN High-Level Champions on Climate Change, the Green Hydrogen Organization, and the African Development Bank, has asked for increased collaboration between public and commercial sectors.
Africa Just and Affordable Energy Transition Initiative (AJAETI) Launched
The Egyptian Presidency of the COP27 has launched the Africa Just and Affordable Energy Transition Initiative (AJAETI). Its three key goals by 2027 are to provide technical and policy support to enable affordable energy for at least 300 million Africans, to enhance access to clean cooking fuels and technology, and to boost the share of renewable electricity generation by 25%. The launch of the AJAETI initiative provides an opportunity to develop a new model of cooperation to meet the commitment to universal access by 2030 and energy demands of Agenda 2063.
Launch of the Planning for Climate Commission
A new global project called the Planning for Climate Commission aims to hasten planning and approval processes for the extensive use of renewable energy sources and green hydrogen that is required to solve climate change and energy security.
The Green Hydrogen Organization, International Hydropower Association, Global Wind Energy Council, and Global Solar Council jointly launched the Commission.
Launch of the Global Renewables Alliance
In an unprecedented collaboration, organisations from the wind, solar, hydropower, green hydrogen, long-term energy storage, and geothermal energy sectors will formally join forces. It brings together, for the first time, all of the energy transition technologies essential to enable a fast energy transition. In addition to ensuring that targets are met, the Alliance hopes to establish renewable energy as a foundation of long-term development and economic success.