Page 15 - Energize July 2022

NEWS

Transitioning to a sustainable and

prosperous future

ccording to the latest update 2. Energy is still not affordable for most in Africa
from the World Economic As energy systems reconfigure to low-carbon models, it subsequently comes at a cost
AForum’s Energy Transition Index to Africans who have witnessed the considerable escalation of energy prices in the
(ETI), the world, in conjunction with the last decade. The onset of the Fourth Industrial Revolution (4IR) has and continues to
African continent, is steadily progressing present opportunities to build more inclusive societies where energy is distributed in
along the energy transition pathway. more equitable and affordable ways.
While the momentum gained thus far is 3. Our future demands more energy diversity and security
promising, the urgency for transformative The ETI suggests that dual diversification (of supply source and supply mix) is key
interventions to mitigate climate change to strengthening energy security. However, many African states are among the 103
and its impact on our continent has countries classified as lacking diversity in energy supply. The transition to renewables
mushroomed. and low-carbon technologies will bring with it a new complex range of challenges as
The world has faced the immense migrating existing infrastructure will require large investment.
challenge of fluctuating economies 4. African leaders need to prioritise legally bound policies and regulations
transpiring not only from a global Whilst they have not always been in place, regulations and policies that reinforce and
pandemic but several humanitarian crises advance the energy transition are essential. It remains critical that energy figureheads
including the ongoing conflict in Ukraine. lay the foundations towards a future where meeting globally-agreed climate goals
Such obstacles have consequently led to a becomes a notable component of African leadership cultures.
volatile energy market. Considering this, 5. Demanding change increasingly means changing demand
energy leaders are set to debate what this To realise the monumental shift required by the energy transition, changes in the
means for the continent within the African way we consume energy on the continent are essential. As such, rapidly scaled clean
context, by exchanging their ideas and demand initiatives could motivate investors to finance low-emission technologies,
knowledge at the upcoming Africa Energy thereby enabling nations to increase their hydrocarbon independence.
Indaba 2023. During the conference, 6. Industries need to unite on decarbonisation
stakeholders from across Africa’s leading It is fundamental that industries across the continent collaborate in the decarbonisation
and emerging economies will showcase of trade, which together represent 30% of total anthropogenic emissions.
a range of business and investment
opportunities, while providing a glimpse There are three areas various stakeholders should prioritise:
into the future of a sustainable Africa • Collaboration between customers and suppliers.
powered by renewable energy. • Collaboration among industry and cross-industry peers.
• Collaboration across a wider ecosystem of stakeholders that includes governments,
Ahead of the seminar, various key insights policymakers, financiers, researchers and NGOs.
follow on the global energy transition
landscape, to empower Africa’s industries The urgency with which we need to play our part in Africa’s energy transition has
to navigate this progression during such never been higher. However, if we can take encouragement from our response to
challenging times: recent global challenges, it is evident that a sustainable future, where energy is
1. Africa’s urgent demand for change is affordable for all Africans, is still possible if the appropriate decisions are made with
outpacing its energy transition generational benefits in mind. Today’s leaders certainly have the tools to shape
While the global average score on the tomorrow’s Africa.
ETI has progressively improved over The Africa Energy Indaba 2023 (7 – 9 March 2023) will discuss, amongst others, the
the past decade, Africa’s energy prices abovementioned pertinent topics in the ongoing energy transition debate and energy
remain higher than ever. Affordability, stakeholders can be privy to the conversation by registering their attendance today.
security, and sustainability remain
the top priorities on Africa’s energy Contact Qondakuhle Dwangu, Africa Energy Indaba,
agenda. To establish an energy Phone 011 463-9184, q@siyenzaevents.co.za,
transition with long-term climate https://africaenergyindaba.com
ambitions, the continent requires an https://www.linkedin.com/company/africaenergyindaba/
approach that simultaneously delivers https://twitter.com/EnergyIndaba
on these three imperatives. https://www.facebook.com/africaenergyindaba

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