- World Climate change forum
- Tony Elumelu attends climate change forum
Tony Elumelu, Chairman of Heirs Holdings, will attend the Climate Finance Mobilisation Forum alongside King Charles III of the United Kingdom and US President Joe Biden.
The forum, which will take place in London, will assist to recruit a new generation of money to address climate change.
According to a statement, attaining the goals of the Paris Agreement would necessitate unprecedented levels of private investment.
Elumelu is one of Africa’s most renowned advocates for equitable climate finance, and his Tony Elumelu Foundation is a significant funder of young African entrepreneurs seeking to produce sustainable climate solutions.
“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 stated.
According to the statement, Africa has a significant energy deficit and must prioritise the provision of a mix of both traditional and renewable energy.
Emerging economies, particularly in Africa, would require an additional $1tn of investment per annum by 2030 to support a fair transition, it said.
It, however, said to mobilise this scale of capital, the world needed bold actions and innovative new partnerships between public, private, and philanthropic actors.
According to the statement, recent trends showed a decrease in renewable energy investment to emerging and developing economies.
“Africa’s green revolution required urgent, immediate and significant funding that is larger than the resources available to African governments, and private sector,” it said.
It added that, Elumelu, who would be representing the African private sector, was invited to the forum by UK Secretary of State for Energy Security and Net Zero, Grant Sharps; and the US Special Presidential Envoy on Climate, John Kerry. The invitation came at the request of King Charles III and US President Joe Biden.
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