Africa's transition to a low-carbon energy future is critical for global sustainability, especially for addressing climate change, says Dr Timothy Afful-Koomson, the Principal Green Growth Officer at the African Development Bank (AfDB).
Globally, about 47 per cent of the increased carbon dioxide (CO2) emissions from 2000 and 2010 directly came from energy supply, with industry, transport and buildings contributing 30 per cent, 11 per cent and three per cent respectively.
He said this here Thursday at a workshop being held under the theme "Green Growth Diagnostics for Africa: Understanding and Tackling the Binding Constraints on Renewable Energy Investment in Ghana", organized by the Institute of Statistical, Social and Economic Research (ISSER) of the the University of Ghana (UG) in collaboration with the Institute of Development Studies, the Kenya Institute of Policy Research and Analysis, Newcastle University, Durham University, the Policy Practice and Ashington Ngigi.
The project seeks to develop a new Green Growth Diagnostics methodology and apply it to two African countries: Ghana and Kenya, which are the research hubs of East and West Africa. It is believed that the two countries offer a good opportunity to test the methodology in advance of their wider application to other African countries and beyond the African continent.
The workshop was organized to disseminate the ISSER's findings on Political Economy Analysis (PEA) of the binding constraints on renewable energy investment in Ghana, and to stimulate more dialogue among key stakeholders.
Dr Afful-Koomson said unreliable and costly power supply was a binding constraint for socio-economic development. "So the GGDA and the related work on PEA of the Binding Constraints to Renewable Energy Investment in Ghana are spot on. One cannot overemphasise their relevance," he added.
He said energy was the driving force for economies and gross dometic product (GDP) growth and declared that "there is a clear correlation between gross domestic products (GDP) per capita and power consumption per capita".
He said two key objectives of the AfDB Ten Year Strategy (TYS) covering the period 2013-2022 are Inclusive Growth and a Transition to Green Growth to improve the quality of growth on the continent.
He said in pursuit of the TYS, the AfDB had developed a Green Growth Framework (GGF) for Bank staff to provide the rationale, guiding principles and entry points of engagements with regional member countries.
Source: NAM NEWS NETWORK.