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UK-Africa Investment Summit scales up investment for Africa’s clean energy transformation


Jan. 23, 2020

Laing said in a statement on Wednesday that more than 50 million Pounds (N28.6 billion) of new UK investment was pledged at the summit for clean energy projects across Africa.
She said that the new links were forged between UK and African companies, investors and policy makers to promote clean energy usage.
Laing said the UK Government was committed to using its expertise and experience to partner with African countries to help them transition away from fossil fuels toward renewable and sustainable forms of clean energy.
“In the year, the UK is set to host the United Nations climate summit, COP26, and that is why we put clean energy at the heart of the UK-Africa Investment Summit.
“Over the past 12 months, campaigners, including the inspirational Greta Thunberg, have shown a spotlight on the urgency for immediate and ambitious action to reduce the potentially devastating impact of climate change.
“I am proud that the UK Government is showing leadership, including through our legally-binding commitment to reach net zero emissions by 2050.
“And, I am delighted that Nigeria too is playing a leadership role, demonstrated through the strong participation at the UK-Africa Investment Summit by the Minister of State for the Environment Sharon Ikeazor ,” she said.
Laing noted that at the summit, the UK announced a range of partnerships with African countries that would support Nigerian leadership in setting an ambitious National Determined Contribution (NDC) to global emissions reduction targets.
The British Commissioner said she hoped that the 10 million Pounds (over N4.7 billion) UK Climate Finance Accelerator would help Nigeria to secure greater investments in green energy, increasing the availability of sustainable power and creating new jobs.
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