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Geopolitics

Africa and COP28: Producers Celebrate, Others Wait

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Ahead of COP28, African negotiators had honed their demands at the Africa Climate Summit in September. Their position, which reflected the interests of both fossil fuel producers and energy importing countries, called for a “just” energy transition that allows oil and gas producers to continue developing their resources while also investing in renewables. They argued that the region’s special needs justified massive investment and pressed for finance to develop renewables and compensation for damage inflicted by climate change. The final COP28 deal, while significant in calling for transitioning away from fossil fuels (while carving out roles for gas and low-carbon fuels) and pledging to triple global renewables capacity, did not really move the needle on these African concerns — with less significant progress on finance.

Topics:
Renewable Electricity , Low-Carbon Policy, Opec/Opec-Plus, Macroeconomics, Resource Access, COP28
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