By Ikhili Ebalu , Benin City
Speaking the Executive Director of Environmental Rights Action/Friends of Earth Nigeria, Dr Godwin Uyi Ojo, stated that “In Nigeria‘s oil fields, oil spills and gas flaring have resulted to massive environmental degradation and marine resources depletion which local people depend on for livelihoods.
“To ensure improved clean energy access, there is the need for a post-petroleum economy devoid of oil and gas and embracing renewable energy sources to reduce carbon footprints and address climate change impact”, Dr. Godwin Uyi Ojo said.
Other environmental rights group from Africa involved in the research include- Friends of Earth-Ghana, Abibiman Foundation-Ghana, Environment Governance Institute-Uganda and Friends of Earth-Togo in cooperation with Milieudefensie/Friends of Earth-Netherland and Both ENDS.
The groups analyzed the prospects of a Just Energy Transition for Africa. They also analyzed the question as to what best solution is for limiting global warming to 1.5C on the one hand, and facilitating universal energy access on the other hand.
“Export credit agencies provide insurances and guarantees to companies doing business abroad. “Despite international climate agreements and national climate ambitions, export credit agencies continue to support fossil energy projects on a large scale.” Niels Hazekamp of Both ENDS kicks.
According to Nosa Tokunbor of Environmental Rights Action/ Friends of the Earth Nigeria, “The only way out is the phasing out of finances for fossil fuel while channeling same to support renewable energy projects.”
On her part, Isabelle Geuskens of Milieudefensie/ Friends of the Earth Netherlands, laments “That in a world that is increasingly switching to renewable energy, the demand for fossil fuel is unsustainable and bound to decrease drastically.”
The report also revealed that, “In spite of the Paris agreement to cut back on carbon emissions, the rich countries insured dirty energy projects with a total value of 11billion US dollars through their export credit agencies (ECAs).
ECAs insured energy projects in Ghana, Nigeria, Togo and Uganda with a total insured value of approximately 18 billion USD in the period between January 2013 and August 2020.
The available data shows that only 1% of the total support to the energy sector consisted of support for renewable energy, in the form of solar projects. No ECA support for wind projects in the four African countries has been found.
“More than half of this export support is related to fossil fuels. Only 1% went to sustainable renewable energy, ” he added.