Frontline international law expert, Professor Damilola Olawuyi (SAN), who is also a UNESCO Chair on Environmental Law and Sustainable Development at Hamad Bin Khalifa University, Doha, Qatar (HBKU), has called for increased financial incentives and support to drive private sector investment in homegrown energy solutions needed to address energy poverty across the continent.
He made the call while delivering a keynote lecture at the 13th Annual Conference of the African Society of International Law held in Lagos, Nigeria themed, “Africa and the Energy Transition” which brought together lawyers, business executives, diplomats, and leading experts from across Africa.
Attendees included Prof. Makane Moise Mbengue, Professor at the University of Geneva, Switzerland and President of the African Society of International Law; Funke Adekoya, SAN, Independent Arbitrator and Chair of the 2024 AfSIL Annual Conference; Laurie Achtouk-Spivak, Partner, Cleary Gottlieb; Prof. Yenkong Ngangjoh-Hodu, of the University of Manchester; Prof. Yinka Omorogbe, SAN, CEO & Founder, EtinPower Limited; Dafina Atanasova, Economic Affairs Officer, UNCTAD; Chidi Momah, General Counsel & Company Secretary, Nigerian National Petroleum Company Ltd; Prof. Yemi Oke, SAN, Professor of Energy, University of Lagos, amongst other notable speakers.
The Senior Advocate noted that “The clean energy transition is both an urgent necessity and a profound opportunity for Africa. It is an opportunity for African countries to leverage their comparative advantages as suppliers of natural gas, as well as energy transition minerals that are in high demand across the world and needed to power renewable energy technologies as well as hydrogen infrastructure projects.”
He added that it is also an opportunity to homegrown energy entrepreneurs to unlock mini and micro-energy grids that can deliver clean and reliable energy to underserved communities, noting Africa’s potential as a strategic hub for solar, wind and hydrogen projects.
Olawuyi called on governments across the continent to make the investment climate more attractive to foreign and homegrown energy entrepreneurs in order to sustain the need investment flow in technology and energy investments.
‘In my travels, I see that several investors worldwide are seeking new hubs for green investment, but are we ready for such green opportunities? We cannot attract the sustained investment flows needed to achieve a just energy transition without addressing barriers that energy entrepreneurs face in Africa. I look forward to working with all of you in proffering practical and innovative solutions in this regard.” he noted.
He further called on investors and businesses to align their business practices, policies, processes, governance structures and decisions with the international law requirements, most especially the requirement to ‘respect, promote and consider human rights when taking action to address climate change,’ challenging stakeholders to avoid greenwashing and misleading claims on energy transition programs through clear, credible, transparent, and accessible reporting.
“Civil society and impacted communities, including Indigenous Peoples and human rights defenders, play a critical role in enabling businesses and investors to identify, prevent and address human rights risks,” he added.
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