With an acceleration of the global net-zero emission journey, there is increasing focus on developing countries especially African countries and their lack of affordability to meet such net- zero targets.

Based on this, a report of the PwC Africa Energy Review 2021, has stressed the need for increased international financing from developed nations, to enable African countries meet up with the estimated cost of $2.8 trillion to transit Africa’s current energy base to zero-net emission by 2050.

According to the report, a clear contrast would be evident when considering Africa as home to 17 per cent of the global population, producing less than five per cent of global annual emissions and accounting for only three per cent of global cumulative emissions.

The report however said that among the majority of Africa’s 54 countries, about 35 have made commitments towards net-zero emission, but at an estimated cost of $2.8 trillion just to transit Africa’s current energy base by 2050, notwithstanding that the required investment levels are largely unaffordable to most countries.

The report further said a clear message had been given at COP-26 in Glasgow, through calls for increased international financial support from developed nations.