Can Africa take advantage of the European Green New Deal?
The European Union has an ambitious trillion dollar plan to cut emissions by more than 50% from 1990 levels by 2030. This can present opportunities for African countries, but also threats.
From excluding African agricultural products from European markets, from locking the door to financing projects the EU considers insufficient, to managing the rising demand for raw materials essential for the “electric” revolution such as cobalt and graphite; it is time for African policymakers to pay attention.
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Given how closely Africa’s economies are interwoven with Europe, It is essential for African countries to watch how quickly the energy and agricultural markets will change, say Zainab Usman of the Carnegie Endowment and Olumide Abimbola of the Africa Policy Research Institute.
The European Green New Deal “should be seen as a foreign policy tool for the EU, as it will affect all countries in the world with which the EU trades,” said Abimbola.
In a sense, the phenomenon is already there. TotalEnergies, the French oil supermajor, is struggling to raise funds for the East African pipeline, which risks excluding Uganda from dividends from oil discoveries in the Albert Basin.
For a continent that contributes so little to the global ecological catastrophe, how can the incremental steps to end an ever-warmer climate be taken in a fair way?
A new article from the Carnegie Foundation for International Peace – What does the European Green Deal mean for Africa? – seeks to break the impact.
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