It Does Not Make Sense to Deny Africans Chance to Use The Same Resources Which Helped Others to Develop.
By TZBN Staff and Agencies.
Debate over fossil fuels investments in Africa has put the African Energy Chamber (AEC) on the defensive in Johannesburg. The stance follows allegations the non-governmental organization is promoting investments in fossil fuels in Africa at the expense of global efforts to reduce carbon emissions.
One opponent to fossil fuels investments on the continent is South African activist Richard Worthington, who argues that oil and gas should be accepted in Africa as a missed opportunity; that now is the wrong time to attempt cashing in on the resources found in abundance in Africa “in the name of the poor”.
“An unhealthy attachment to anticipated revenues is probably the most powerful impediment to avoiding climate catastrophe, as investors in the fossil fuel industry prefer to risk future stranding of assets (for which they are requiring government backing, or “de-risking”) rather than countenance a planned phase-out of extractive profiteering,” Worthington writes.
“We cannot avoid catastrophic climate change and monetise the fossil fuel resources in our region or elsewhere, even if the large historical emitters (SA is ranked 14th) were to double up their decarbonisation efforts – as acknowledged by the International Energy Agency”.
Executive Chairman of the African Energy Chamber, NJ Ayuk, on the other hand, has often called on African Govenments to cut taxes, provide the right kind of incentives, and to approve deals in this sector, to enable the continent and its people benefit from resources which have played an important role in developing the developed countries. It does not make sense to deny Africans from using these same resources which helped others develop.
“I agree that climate change should be taken seriously, but we cannot accept knee-jerk responses. We must not rob our continent of the significant benefits it can realize from oil and gas operations, from the economic opportunities of monetized natural resources to critically important gas-to-power initiatives,” Ayuk recently said, adding: “The anti-fossil fuel pressure is coming [even] from within the African continent. Western funded NGOs from Kenya and the surrounding region, for example, recently petitioned the African Union to put a stop to coal usage and look into phasing out oil and gas usage over the next three decades in hopes of eliminating emissions that contribute to global warming”.
Worthington says “it is time to denounce the self-serving narratives of opportunists demanding – in the name of the poor – favourable finance to keep fossil fuel exploitation profitable.… Letting go of what might have been is always difficult, even when it is clear that an opportunity has passed us by, or lost any prospect of delivering on expectations.”
“We won’t be deterred by hateful bashing” Ayuk responds adding: “Independent researcher and activist Richard Worthington has turned to slander to get a headline, publishing an attack article against the African Energy Chamber and its annual event, African Energy Week (AEW): Invest in African Energy.”
“Rather than using his voice to provide a piece of literature that explores the reasons why Africa still faces such a deeply entrenched energy crisis, Worthington chose instead to attack the very organization that is trying to solve this challenge”.
The African Energy Chamber convenes an annual conference in Cape Town to facilitate investment, promote Africa’s energy narrative and drive impactful development across the continent. It has meawhile been the target of many ‘hits’ over the years. This, however, is nothing compared to what goes on every day in Africa, Ayuk argues, where over 600 million people still lack access to electricity. This is nothing compared to the number of people who remain in the dark, the potential that the futures of many Africans remains uncertain.
“Such attacks always emerge when we are in proximity of hosting Africa’s premier event for the energy industry, which is designed to help unite African energy stakeholders with global investors to navigate industry’s most pressing challenges, Ayuk has responded to Worthington. The AEC will continue taking hits, just as we will continue to do everything we can to make energy poverty history.
“It is not about keeping fossil fuel exploitation profitable; it is about finally using these profits in Africa. What Worthington fails to mention, is that Africa’s fossil fuels have – for decades – only been profitable for western companies and nations. Africa has not had the benefit of using its resources to fuel its development, but rather, has been left in the dark while the rest of the world transforms.
“At a time when Africa is finally making strides to utilize its resources for its own development, ‘activists’ such as Worthington feel that this approach is one of the past. What other alternative does he propose? None. Instead, he states that the continent must let go of what might have been. By that logic, Africa should be content with remaining poor, in the dark and undeveloped, all in the name of climate change.
“It is sad to see someone say anything they can to make headlines. It is also sad to see someone attack an industry that promises to do more than just develop Africa, but transform it through inclusive business opportunities, widespread infrastructure growth and pan-economic investment. The recent attack by Richard Worthington is just one of the many the AEC receives against people and institutions who are committed to leaving Africa in the dark. However, we will not be swayed. We won’t let this brazen attack against Africa hinder us from achieving our goals – to make energy poverty history.
“Let us make one thing clear: we are not attached to anticipated revenues; we are wholly committed to giving Africa the chance to do what its western counterparts have done – develop. Fossil fuels will do just that. Renewable energy, hydrogen and alternative fuels will also do that, which is why we have and will continue to be strong advocates for a just transition, one in which every resource available on this continent is monetized in an integrated manner. We are not against ESG; we are against the notion that we have to follow a western approach to developing. Through platforms such as AEW: Invest in African Energy, we outline clear pathways to achieving dual goals of lowering emissions while enhancing energy security. We explore the biggest challenges the continent faces and propose solutions to address them. We sign deals, we foster collaboration and mobilize investment in communities and projects.
“We look forward to seeing the entire industry at AEW: Invest in African Energy 2024 and invite the media to participate. Then they will realize that this is not a platform for grand-standing and generalized statements. Rather, this is a movement to make energy poverty history.
“This is a chance to sign deals and drive impactful projects forward – every project; not just oil and gas but infrastructure, power generation, hydrogen and so much more. This is an opportunity to change the fate of Africa and chart a new path of development built on integration, inclusivity and a pro-African mindset. See you in Cape Town on November 4, 2024”.
