22 November, 2022
Category : Power Shift in the News | tags: Globe Echo
While it would be necessary to stop investing in new fossil energy projects to maintain the chances of limiting global warming below 1.5°C, Africa remains an active prospecting field for the Western majors.
Exploration and exploitation projects of newly discovered reserves are underway in 48 countries on the continent, according to the report “Who is financing the expansion of fossil fuels in Africa? »made public Tuesday, November 15 in Sharm El-Sheikh (Egypt), where the United Nations conference on climate change (COP27) is taking place.
...“From Mauritania to Mozambique, Europe’s addiction to fossil fuels is a powerful driver for the development of liquefied natural gas (LNG) production infrastructure projects on the continent," says Amos Wemanya of the think tank Power Shift Africa. "These multi-billion dollar projects are driving African countries deeper into debt and diverting them from a transition to renewable energy. It is bad for the climate and for the development of Africa."