The forum, the organisers added, is expected to address measures to mitigate the challenges of energy transition and provide a low-emission development trajectory.
The Nigerian government is set to host world leaders for the second edition of the African Natural Resource and Energy Investment Summit (AFNIS).
In a statement made available to PREMIUM TIMES and signed by AFNIS Media Executive, Fatima Wabi, the summit is scheduled to hold in Abuja, Nigeria's Federal Capital Territory (FCT) from 31 October to 2 November.
According to the statement, the summit, which is themed; "Towards A Just Transition," is expected to bring together visionary minds, government agencies, and innovative private companies, "united by a common mission".
The forum, the organisers added, is expected to address measures to mitigate the challenges of energy transition and provide a low-emission development trajectory tailored to Africa's unique circumstances.
"The summit will advance conversations on promoting sustainable economic growth for mining and energy-dependent nations to foster strategic and bilateral development of the continent's extractive and energy sectors," the statement said.
It als noted that the summit will provide a platform to address the sustainable development of African natural resources and the global green economy while also serving as a platform for sharing knowledge, case studies, and experiences from other African countries, spotlighting their progress.
Background
Africa currently accounts for less than three per cent of global carbon emissions, with the lowest carbon per capita in the region. According to Africa Energy Outlook 2022, as of May 2022, countries accounting for more than 70 per cent of global carbon emissions had committed to achieving net zero emissions by midcentury, including 12 African countries that account for more than 40 per cent of the continent's total carbon emissions.
The article explores "a Sustainable Africa Scenario (SAS) in which Africa" rides on energy shifts "to achieve all African energy-related development goals on time and in full".
For Africa to achieve its net zero emission target by 2030 and the implementation of its climate pledges, the continent needs to take the lead with clear strategies and policies. Against this backdrop, in 2022, Nigeria, with its fellow African nations, charted the way forward for the sustainable development of the continent's natural resources at the flagship Nigeria-Africa Natural Resource and Energy Investment Summit (NAFNIS) themed: "Towards a Greener Africa".
The event explored the pathway to Africa's energy system and the continued sustainable development of Africa's natural resources through knowledge sharing, investment, and trade. Stakeholders across the continent were present to discuss investment trends and strategies that can be utilised to maximise the potential and accelerate the economic diversification of African nations.
However, the current global energy crisis highlights the urgency and magnitude of modernising Africa's energy industry. If the current industrialisation rate persists, the International Energy Agency (IEA) forecasts a tripling of Africa's emissions by 2040. This underscores the urgency for Africa to adopt measures for sustainable development and emission reduction national plans.
About the Summit
The Federal Republic of Nigeria officially hosts the summit with support from the Federal Ministries of Mines and Steel, Power, Petroleum, Environment, and Foreign Affairs.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
The organisers said over 30 African nations are expected to attend the summit.
The mining and energy industries play a crucial role in a fair energy transition; thus, the event will give the Nigerian government and the governments of other participating nations the platform to outline their sustainable development plans and policies in the mining, petroleum, power, and environmental sectors.
In the three-day summit, industry experts, government officials, academics, and business leaders will delve into the intricacies of achieving a just transition within the mining and energy domains, including integrating cleaner energy sources into Africa's energy mix. The summit is expected to foster insights, collaboration, and actionable strategies that align with Africa's sustainable development goals.
