Views: Visits 8 Yemi Osinbajo –Wants EU, others to reconsider ban on fossil investments By Johnbosco Agbakwuru ABUJA VICE President Yemi Osinbajo yesterday stressed the need for a just, equitable, and inclusive global energy transition especially for developing economies. The Vice President spoke in a keynote speech at the 7th Annual New York-based Columbia University Global Energy Summit organized by the Columbia Centre on Global Energy Policy, according to a Presidency statement made available to newsmen last night. Prof Osinbajo noted that while investments in fossils are being sustained in wealthier countries, banning gas investments in developing nations raises questions, especially as the global community approaches the Net-zero emission target of 2050.
This year’s edition which held virtually, focused on shaping current energy system, what is ahead for energy policy, energy markets, geopolitics, technology, and efforts to reduce emissions while addressing climate change.
According to Prof. Osinbajo, “The global energy transition must be inclusive, equitable and just, taking into account the different realities of various economies and accommodating various pathways to net-zero by 2050.
“Nigeria and countries across Africa are committed to a net-zero future, especially given their vulnerability to the adverse effects of climate change, and all have expressed commitment to their national development contributions under the Paris Agreement, however greater support in developing and implementing robust energy transition plans is needed.
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NEW YORK, May 10, 2021 /PRNewswire/ BlueMark, a leading provider of independent impact verification services for investors and companies, announced the creation of a first-of its-kind benchmark for tracking best practices in impact management. Designed to root out impact-washing, BlueMark s benchmark allows market participants to readily differentiate between impact leaders and learners.
The benchmark is based on aggregated data and insights from 30 impact verifications for investors with a combined $99 billion in impact assets under management on their alignment with the Operating Principles for Impact Management ( Impact Principles ), the leading market standard for impact management practices. Each BlueMark impact verification involves conducting multiple interviews with client teams and reviewing hundreds of pages of investment policies, transaction documents, data, and reports. The full report,
“What would you do if someone dumped nine Olympic swimming pools of oil into your community?”
This is the question that is splayed across Amnesty International’s webpage on the Niger Delta oil spills. As it turns out, since 2011, Shell alone has reported 1,010 spills, with 110,535 barrels or 17.5 million litres dumped into water bodies in the Niger Delta a conservative number, as the Nigerian government and other experts have estimated it to be even more. As this data is from 2018, the numbers do not consider the spills that have occurred since then or before then, including the infamous Ogoniland spills.
Ironically, on Earth Day this year, April 22, the tabloids carried stories of the finalisation of the Joint Investigative report of the Shell-owned Okordia-Rumuekpe 14-inch trunk line which had spilled 213 barrels- over 33, 000 liters- of crude oil on April 7 into the Ikarama community. According to the report, the spill had polluted 1.34 hectares of land, at least two footb
West Africa hybrid solar power solutions provider Daystar Power plans to raise about $100m within the next three years to satisfy existing client demand.
“The market size and funding gap is huge, and our role in bridging this gap will involve us continuously raising funds,” Olaedo Osoka, Daystar’s CEO for Ghana, tells The Africa Report. The funding will mostly be debt, and the amount sought in each fundraising will typically be around $20m, she adds.
Daystar was founded in 2017 by Sunray Ventures and is active in Nigeria, Ghana, Togo and Senegal, with a representative office in Côte d’Ivoire. In January, Daystar raised $38m from investors led by Danish development finance institution The Investment Fund for Developing Countries. The funding raised will be used to expand operations in Ghana, Senegal and Togo, says Osoka.