WEF whitepaper highlights funding as key to energy transition

Excerpt from esi-africa.com

The World Economic Forum (WEF), in a new whitepaper, highlighted the urgent need for existing and future funding and financing to target cleaner energy solutions.

The whitepaper, written in collaboration with Deloitte, outlines the key considerations in setting the course for Africa’s energy future, was released at the 2021 Sustainable Development Impact Summit. Entitle Financing the Future of Energy, the report outlines Africa’s electricity landscape and financing options in context with the global drive to reduce carbon emissions.

Africa’s power sector will play a central role in the transition from fossil fuel-driven power generation to a renewable-strong energy mix. According to the whitepaper, the migration to a multi-stakeholder-oriented net-zero power grid is being driven by “the 3Ds”:

  • Decarbonisation: moving from fossil fuel sources to renewables
  • Decentralisation: Shifting from centrally managed generation, transmission and distribution to decentralised systems
  • Digitalisation: Leveraging digital technology to advance the transition