Opening Statement by:
Mr. Claver Gatete
Executive Secretary and Under Secretary General
Economic Commission for Africa
Video Statement December 2, 2024
International Forum on Energy for Sustainable Development 2024
UN Conference Centre, Bangkok, Thailand
2-4 December 2024
Organized by the United Nations Regional Commissions
Event page:https://www.unescap.org/events/2024/thirteenth-international-forum-energy-sustainable-development
Executive Secretaries of the Regional Economic Commissions,
Your Excellencies Representatives of Governments,
Representatives from International, Continental, Regional and National Institutions and Organizations,
Representatives from the Private Sector, NGOs and Civil Society,
Representatives from various other institutions,
Participating delegates and experts,
Ladies and Gentlemen
It is my great pleasure to welcome you to the 13th International Forum on Energy for Sustainable Development taking place in the vibrant city of Bangkok, Thailand under the theme “Taking Action for Just Energy Transition.” Energy transition is a defining question of our time, and we see a great need to ensure that it is pursued in just and inclusive manner, and in ways that protect socioeconomic gains and open opportunities for economic transformation.
Globally, we face multiple challenges; most urgent of which include the climate crisis and adequate finance particularly to developing and emerging economies to invest in sustainable transitions. Assessments by the IPCC indicate that projected CO2 emissions from existing systems exceed the caron budget for a 1.5°C ceiling. The energy sector, contributing 73% of global emissions, is at the heart of required global transitions. Even though Africa’s carbon footprint is negligible, the continent is committed to sustainable transitions as reflected by the continental Common Position on Energy Access and Transition. We assess that a 1.8°C temperature rise will erode Africa’s real GDP by 2%, with it the hard-won gains of sustainable development. We must, therefore, sustain climate action and facilitate sustainable transitions!
To effectively tackle the climate crisis and accelerate energy transition, we must address critical imbalances to access global finance and investment. We are encouraged by the latest assessment of global energy investments expected to surpass $3 trillion in 2024, of which $2 trillion are expected to be committed to clean energy investments. However, Africa endowed with vast clean energy resources of global scale has received 2% of global renewable energy investments in 2019, and 2.8% by 2024. Power grid and storage investments attract less than 3% of global investments.
Similarly, Africa sustains global critical minerals and batteries value chains with the supply of critical minerals (e.g. 70% of global cobalt, 60% of platinum group metals and manganese, 25% of bauxite and 20% of phosphate production) while accruing minimal value addition. The global demand for critical minerals, specially under a net-zero policy scenario, is expected to triple. Imbalances resulting in Africa’s minimal value capture in the critical mineral value chains indeed call for a balanced and inclusive approach to ensure transitions also deliver sustainable development.
Transition also embodies major opportunities for Africa. Our assessment with IRENA shows that actions under a 1.5°C scenario result in GDP to be higher by an average of 6.4% to 2050 and economy-wide employment to be higher by 3.5%, with at least 28 million jobs in the energy sector alone in Africa by 2050. Capturing this opportunity requires strategic actions within a transition goal.
A just and inclusive energy transition require concrete actions. At the macro-level, we must integrate inclusiveness and social justice principles in energy strategies; establish sound governance and capacitate institutions to deliver on transitions; and reinforce investments in social infrastructure.
At the value chain level, we must leverage economic and industrial cooperation to build competitive supply chains and manufacturing capacities; and scale up investments in science, technology, research, and innovation to promote sustainable technology uptake and local production.
Related to the business environment for transition, we must support member States to expand financing schemes and take credible measures to de-risk energy markets to attract a growing share of global investments.
Through this forum, I call for productive dialogue and engagements into these issues, and I look forward to insights and outcomes from this forum towards the timely goal of global just and inclusive energy transition.
I wish you fruitful deliberations.