TheCable

Tony Elumelu, chairman of the United Bank for Africa (UBA), says Africa Africa must lead the world in driving environmental sustainability in the fight against climate change.

In a statement on Monday, Elumelu spoke about his trip to London to represent Africa at the climate finance mobilisation forum.

He said the continent must prioritise the energy mix of renewables and fossil fuels, noting that such must not be at the expense of addressing the continent’s energy deficit.

He added that Africa’s green revolution requires urgent and significant funding larger than the resources available to governments, and the private sector.

“The urgency for action on climate change; the threat to our lives and livelihoods; that Africa must lead the world in driving environmental sustainability,” he said.

“We can no longer be a passive player in an issue that is so central to our present and future.

“Africa needs a just, fair, equal and realistic strategy to address the inequalities that exist between Africa and the rest of the world.

“Africa must prioritise the provision of a mix of both traditional and renewable energy, but this cannot be at the expense of the drive to urgently address the continent’s current energy deficit.

“A net zero conversation that ignores, dismisses, or underestimates the continent’s current reality does us all more harm than good. The conversation on climate financing could not have come at a better time — recent trends show a decrease in renewable energy investment in emerging and developing economies.

“Africa’s green revolution requires urgent, immediate and significant funding — funding that is larger than the resources available to African governments, and the private sector. Climate change is a crisis that the countries in Africa did not create, the continent has contributed the least, yet continues to suffer an outsized impact.”

He said everyone has a role to play, adding that Tony Elumelu Foundation supports green entrepreneurship and agripreneurship, which are critical in driving innovative solutions to environmental issues.

“Collectively, we can do better. We must do better. We have a dwindling window to address, probably the most significant challenge of our time,” he added.