“principles enshrined into global treaties around sustainable development and climate action.”
He added that apart from South Africa, 1 billion people in sub-Saharan Africa depend on 81 GW which has contributed less than 1% of cumulative CO2 emissions, as energy-poor countries emit low quantities of CO2 in comparison to the US and Europe.
“What is often not sufficiently considered in the transition to net zero-emission is the critical role energy plays in catalyzing the economic development of poorer countries from its use in industrialization and manufacturing to basic things such as cooking,” he said.
On Energy Investments in Nigeria
The Vice President opined that there is a mismatch in energy investments globally, stating that high-income countries who hold 15% of the world’s population receive 40% of global energy investment, while other countries, home to 40% of the world’s population receive just 15% of said investment.