Africa – net zero cannot start at zero.

A resilient energy sector requires a diverse energy mix; this means the utilization of all available energy resources, including but not limited to oil, gas, and renewables.

Oil and gas businesses recognize this.

Many of the majors have announced portfolio diversification combined with net-zero carbon emissions targets or transitions to net-zero businesses.

Creating new capacity or increasing renewable capacity from renewable energy sources like solar and wind with short, medium, and long-term goals are some of the strategies used by traditional oil and gas businesses.

Another tactic is to reduce emissions from current oil or gas operations through the sale of fuels and other energy products to customers. This includes using cutting-edge technology to capture and store any residual emissions or balancing them with offsets.

For governments, energy diversification is essential for reducing dependence on any one source of energy, achieving energy security, creating access to energy and addressing energy poverty.?

According to the International Energy Agency IEA, Africa as a low emitter of the world’s energy-related CO emissions still lacked adequate access to electricity.

This energy deficit will worsen as population growth outpaces access to energy, particularly access to electricity.

Recently, in South Africa, President Cyril Ramaphosa declared a national state of disaster in his State of the Nation Address in relation to the electricity crisis being experienced in the country.?

It is an immediate and absolute priority for Africa to bring modern and affordable energy to all Africans.

This can only be achieved through the utilization of all available energy resources.

In other words, net-zero does not and cannot start at zero, at least not for Africa.

A balance must be struck, and while the developed nations disincentivize investment in fossil fuel exploration and production, Africa should be incentivizing such investments, along with the development of all other energy sources.

To achieve this, it is necessary to ensure a stable regulatory environment for investors through clear policy directives and legislative certainty.