Webinar: Accelerating clean energy access in Africa by unlocking the catalysing potential of carbon finance

Although 2023 saw record renewable energy deployment with the sector reaching a total capacity of 3,870 GW, growth is still unevenly distributed. Asia, particularly China, accounts for most of this expansion. In contrast, Africa, where 600 million people (43% of the population) still lack access to energy and almost a billion lack access to clean cooking, saw a mere 4.6% increase in renewable energy capacity (reaching a total capacity of 62 GW).

To achieve SDG7 by 2030, at least 90 million people will need to gain access to electricity, which means tripling the current rate of connectivity. Additionally, not only energy investment will need to double within this decade, but given climate emergency, we will need to ensure such investment goes towards clean and renewable energy.

The panel will discuss the main challenges and opportunities in designing innovative climate financial approaches to ensure that energy efficiency and renewable energy companies, particularly those in the solar sector, can access the vital investment needed to scale and grow to meet SDG7.

In particular, the panellists will examine the catalytic role that carbon markets can play in accelerating the flow of climate finance and international capital into the continent and its potential to de-risk renewable energy investments more broadly. This could open up new sustainable economic opportunities to the African continent, and on some cases even promote the development of new sectors in the continent such as the export of green hydrogen, given the abundant renewable energy resources that exist in the region.

Moderator: Susie Wheeldon, Head of Communications, GOGLA

• Rosalie Marsden, Senior Associate, Acumen
• William Brent, CMO, Husk Power Systems (Minigrids - Nigeria)
• Dennis Nderitu, Energy Systems Manager, Global Energy Alliance for People and Planet
• Pablo Fernandez, CEO, ecosecurities