https://en.sputniknews.africa/20241114/president-of-african-development-bank-calls-for-re-evaluation-of-continents-natural-capital-1069229259.html
President of African Development Bank Calls for Re-evaluation of Continent’s Natural Capital
President of African Development Bank Calls for Re-evaluation of Continent’s Natural Capital
Sputnik Africa
The 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) is being held in Baku, the capital of Azerbaijan... 14.11.2024, Sputnik Africa
2024-11-14T14:21+0100
2024-11-14T14:21+0100
2024-11-14T16:21+0100
sub-saharan africa
african development bank (afdb)
economy
nature reserve
gdp
environment
cop29 in azerbaijan
united nations (un)
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Africa needs to re-evaluate its natural capital, President of the ADB Akinwumi Adesina said on the sidelines of the COP29 in Azerbaijan.He added that in 2018, the GDP of African countries accounted for $2.5 trillion, which is 2.5 times less than the value of its natural capital, estimated at $6 trillion. Africa is considered to have great resources of renewable energy. According to the International Energy Agency, the continent has potential to benefit from hydropower (35 gigawatt, produced in various African countries), wind power (110 gigawatt), solar power (10 terawatt) and geothermal energy sources (15 gigawatt). In total, 60% of the world’s renewable energy resources are in Africa.
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african development bank (afdb), economy, nature reserve, gdp, environment, cop29 in azerbaijan, united nations (un)
african development bank (afdb), economy, nature reserve, gdp, environment, cop29 in azerbaijan, united nations (un)
President of African Development Bank Calls for Re-evaluation of Continent’s Natural Capital
14:21 14.11.2024 (Updated: 16:21 14.11.2024) The 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) is being held in Baku, the capital of Azerbaijan, with about 80 heads of state and government participating.
Africa needs to re-evaluate its natural capital, President of the ADB Akinwumi Adesina said on the sidelines of the COP29 in Azerbaijan.
"It is time for Africa’s green environmental assets to be properly priced, allowing the continent to convert its massive green assets into wealth through their inclusion in the GDP," Adesina said, as quoted by media.
He added that in 2018, the GDP of African countries accounted for $2.5 trillion, which is 2.5 times less than the value of its
natural capital, estimated at $6 trillion.
Africa is considered to have great resources of
renewable energy. According to the International Energy Agency, the continent has potential to benefit from hydropower (35 gigawatt, produced in various African countries), wind power (110 gigawatt), solar power (10 terawatt) and geothermal energy sources (15 gigawatt). In total, 60% of the world’s renewable energy resources are in Africa.
