By Ayo Yusuf
The United States, US, Special Presidential Envoy for Climate, Senator John Kerry and UK Energy Secretary, Grant Shapps will today host some of the world’s leading political and business leaders at the Climate Finance Mobilisation Forum in London.
Tony Elumelu, chairman of Heirs Holdings, is set to join US President Joe Biden and King Charles III, at the prestigious event which aims to advance discussions on climate donations from the private sector, as well as attract capital for developing countries to tackle climate change.
Mr. Elumelu, who will be representing the African private sector, spoke of the critical nature of the event, noting that the world needs bold action and innovative new partnerships among public, private, and philanthropic actors.
He said climate finance investments should deliver affordable and accessible power in Africa, adding that the provision of a mix of both traditional and renewable energy should be prioritised.
“Africa needs a just, fair, equal and a realistic strategy to address the inequalities that exist between Africa and the rest of the world,” Elumelu said.
“A Net Zero conversation that ignores, dismisses, or underestimates the continent’s current reality does us all more harm than good.
“Climate finance investment should deploy capital to a mix of on and off-grid solutions that are required to deliver affordable, reliable, and accessible power in Africa.
“Africans bear the harshest effects of the climate crisis and are the least responsible for creating this crisis in the first place,” he said.
The forum comes on the heels of the global finance pact summit, hosted by France President Emmanuel Macron, in Paris in June.
The Paris summit laid the foundation for a new financial system that will boost investments in green infrastructure and create innovative solutions to climate vulnerability.
President Bola Ahmed Tinubu used the occasion of his first official engagement in Paris to hold several beneficial meetings with sundry leaders of commerce and business.
