Page 5 - AfrOil Week 37 2021

AfrOil COMMENTARY AfrOil

Climate challenges contribution of natural gas to climate mitigation.
The International Energy Agency (IEA) posits We need to emphasize the need to consider all
in its 2021 Global Energy Review, that global energy sources without discrimination. Natural
emissions from energy use is set to increase by gas and oil will provide more than 50% of global
1.5bn tonnes to 33bn tonnes in 2021, despite a energy demand by 2050 and will continue to be
5.8% reduction in 2020 due to the COVID-19 responsible for inclusive economic growth for
pandemic and imposed lockdowns. decades to come. Gas is one of the global ena-
With the energy sector accounting for 72% blers to reduce emissions.”
of total emissions, urgent action is required. In Rolake Akinkugbe-Filani, an AEC advisory
response, the international community, through board member, added: “We need the energy
the Paris Climate Agreement, has opted for the sector to work for local development. A short-
immediate reduction in fossil fuel-directed term priority should be how to harness these
financing, advocating for the switch to renewa- resources in a sustainable way. The gas sector, in
ble energy sources and the end of hydrocarbon particular, is a key driver of this dynamic.”
use worldwide. For his part, NJ Ayuk, the executive chair-
The impacts of reduced finance for African man of AEC, said: “There can be no constructive
oil and gas developments are significant, espe- dialogue in energy transition without energy
cially considering the reliance on foreign direct poverty being placed at the forefront of the
investment in expanding energy sectors and debate. Our planet will only be better if we all
driving socioeconomic development. Despite work together. We believe in Africa, that oil and Africa needs
intentions to reduce greenhouse emissions glob- gas is part of the future. We have an obligation
ally, these initiatives threaten to further accentu- to develop our resources while following the cli- all of its oil and
ate energy poverty in Africa. mate change mitigation.”
gas resources
The right approach Collaboration is essential
In the OPEC-led Ministerial Roundtable, one In the move to eradicate energy poverty, uni- if it is to ensure
of the recurring themes was that Africa requires lateral climate mitigation strategies threaten to long-term,
a flexible approach to mitigating climate chal- hinder progress. Therefore, the need for a col-
lenges. With energy poverty eradication a laborative approach has been emphasized in sustainable
primary objective for every African state, the which both developed and developing countries
continent needs all of its oil and gas resources if engage in an inclusive debate. economic growth
it is to ensure long-term, sustainable economic As Barkindo suggested, “we need multilat-
growth. eralism at the center of our energy, climate and
According to Angola’s Minister of Mineral sustainable development future.” Accordingly,
Resources and Petroleum Diamantino Pedro developing countries should not be left out of
Azevedo, “there is a need for an inclusive, prag- the debate on climate mitigation but should take
matic and holistic approach to mitigate and on an inclusive role.
adapt to climate change, taking into account Tareck El Aissami, Venezuela’s oil minister,
national circumstances and priorities, as well as added: “The energy transition should be accom-
the principles of equity and common-but-dif- panied by a world-wide debate. With concerted
ferentiated responsibilities and respective policy and open debate, we will find a path to
capabilities.” retain a solution and reduce the impact of cli-
Bijan Namdar Zanganeh, then serving as mate change. We do not need more declaration.
minister of petroleum for the Islamic Republic We need urgent action.”
of Iran, agreed. “Developing countries are part
of the solution, not the problem. It could be Need for support
argued that choosing one of two energy options What’s more, Africa’s economic and energy
will not lead to the expected sustainability. Pur- future requires support from developed coun-
suing such a narrow strategy could even exac- tries – “including financial resources, technol-
erbate the challenge of energy poverty in the ogy development and transfer and capacity
world,” he stated. building to aid adaptation and back increased
If the continent is to ensure effective eco- ambitions for climate action,” Barkindo stated.
nomic growth in the wake of the pandemic, Accordingly, there is need for a collaborative
countries need to be able to develop their oil approach between developing countries, which
and gas resources. Rather than eliminate hydro- require an adapted strategy to mitigation, and
carbons, by utilizing their resources for stronger, developed countries, which hold the financial
ore sustained economic development, energy resources needed to help Africa in its energy
poverty can be eradicated by 2030. Accordingly, transition and sustainable development.
the Roundtable emphasised the role that natu- “The capacities and national circumstances
ral gas, in particular, will play in Africa’s energy of developing countries must be taken into
future. account in all actions. In order to not ren-
Yury Sentyurin, GECF’s secretary general, der countries already struggling even more
commented: “The GECF gives a voice to natural besieged, it is necessary to carefully consider
gas as part of the solution to balanced, sustain- the adverse socio-economic impacts on these
able development. There has been a commit- countries due to mitigation activities, in order
ment by the GECF heads of state to increase the to identify remediation measures and share best
pace of global energy transition and the positive practices,” concluded Barkindo. ™

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