What: Thematic Knowledge Event 2
Who: African Development Bank Group Governors; Experts on climate change and natural capital
When: Thursday, 25 May 2023; 09:00-10:30 Egypt time (GMT+3)
Where: The Capital, Sharm El Sheikh International Convention Center, Egypt, and online
Africa has abundant natural resources and diverse ecosystems that critically support the continent's services, development, and livelihoods. The continent contributes substantially to the global annual production of six key minerals: 80% platinum, 77% cobalt, 51% manganese, 46% diamonds, 39% chromium, and 22% gold. For instance, about 30% of all global mineral reserves are found in Africa, including 60% of cobalt and 90% of the platinum group metals reserve. The continent currently holds 7% of global natural gas and oil reserves.
Further, Africa has over 60% of the world's arable land and 13% of the global population, 60% of whom are under the age of 25 years--making it the most youthful population in the world. About 75% of African countries have access to the sea, offering massive potential for a blue economy that could contribute around $1.5 trillion to the global economy if effectively and sustainably managed.
Under the theme, 'Harnessing natural capital to finance climate and green growth in Africa,' this session will explore how Africa's natural capital can complement private sector financing, a vital getaway to finance the continent's adaption and mitigation actions and green growth ambitions. It will discuss policy frameworks for transforming Africa's natural wealth, focusing on local content, value addition, trade and regional integration; infrastructure, finance and investment policies; human capital and skills development; and technological upgrading. Panelists will make policy recommendations to harness natural capital to finance climate and green growth in Africa.
For more details on the Bank Group's 2023 Annual Meetings, click here
Join the conversation using the hashtags #AfDBAM2023 #PowerAfrica #ClimateFinanceAfrica#JustEnergyTransition
Contact: Communication and External Relations Department| [email protected]
