As the COVID-19 pandemic continues to disrupt global societies, we have seen a severe slump in demand for fossil fuels. What will this mean for hydrocarbon producing countries in Africa?
Will the pandemic have a long-lasting impact on fossil-fuel dependent development trajectories in Africa? Or is this an opportunity for transitions towards greener economies?
The continent is well endowed with natural resources such as oil, gas and coal that hold enormous potential to accelerate its development. However, these resources are at risk of becoming stranded, as climate policies threaten to render some assets worthless before the end of their economic lifetime. As pressure mounts to keep global warming below 2◦C by moving towards low-carbon economies, Africa has to consider the implications of such a transition.
This workshop aims to explore the impact of stranded hydrocarbon assets on Africa’s development, in light of new risk factors as a result of COVID-19.
The webinar will provide a platform for participants to discuss challenges that this pandemic presents to African decision makers and the opportunities presented for a low-carbon and climate resilient growth pathway to build prosperous and more resilient societies better prepared for the bigger climate test ahead.
Yemi Katerere – UNU-INRA Advisory Board Chair; Independent Scientist – WWF and CIFOR
Fatima Denton – UNU-INRA, Director
Antonio Pedro – United Nations Economic Commission for Africa (ECA) SRO-EA, Director
Rose Mwebaza – Climate Technology Centre & Network (CTCN), Director
Daria Ivleva – Adelphi, Project Manager
Selam Kidane – African Group of Negotiators, Legal Advisor
James Murombedzi – United Nations Economic Commission for Africa (ECA) ACPC, Chief
Stephen Yeboah – African Development Bank (AfDB) – African Energy Portal, Policy and Research Analyst
Date: Wednesday, 1st July
Time: 11 am – 1 pm GMT
Click on the links below the download the English and French Versions of the Discussion Paper, Key messages and infographics.
Discussion Paper: Discussion Paper – Africa’s Development in the age of Stranded Assets
Key Messages: Stranded Assets Key Message
Infographics: Stranded Assets Infographics
Document de Discussion: Developpement de l’Afrique a l’ere des Actifs Immobilises
Messages Clé: Messages Clés – ACTIFS IMMOBILISÉS
Infographie: Actifs Immobilises_Infographiques