Managing “stranded” assets risks and opportunities – moving towards decarbonised economies and inclusive growth in Africa
Friday, 10 July 2020
12:00 PM - 1:30 PM
Virtual (New York time)
UNU with (INRA and EHS), UN ECA, and UN DESA
Managing “stranded” assets risks and opportunities – moving towards decarbonised
economies and inclusive growth in Africa
As 2030 draws closer, efforts to deliver on the sustainable development goals must be accelerated.
Africa is far behind on delivering affordable and clean energy (SDG7). The continent remains
energy poor, with 600 million people living without access to electricity in sub-Saharan Africa.
Efforts to accelerate climate action have intensified, driven by the main stipulation of the Paris
Agreement to reduce global warming to below a 2 degree rise. However many African countries
depend on hydrocarbon assets for development. These assets are at risk of becoming stranded as
global systems move towards zero-carbon trajectories which would render fossil fuel assets
While the COVID-19 pandemic continues to disrupt global societies, we have seen a historic shock
to global energy markets. The severe slump in fossil fuel demand has demonstrated the real risks
of “stranding” faced by hydrocarbon-dependent economies. Will the pandemic have a long-lasting
impact on fossil-fuel dependent development trajectories in Africa? Or is this an opportunity for
transitions towards greener economies?
At the same time, the risk of stranded assets can be a springboard for better resource planning,
diversification and transition towards sustainable development. This presents an opportunity for
greater leadership in managing Africa’s development aspirations.
This presents the question, how can African countries manage the risks of stranded assets as they
decarbonise their economies?
This HLPF side event, hosted by UNU-INRA, will discuss the risks associated with transitioning away
from fossil fuels, and the opportunities for diversification and sustainable development in Africa.
Mr. Shinjiro Koizumi - Minister for Environment, Japan
Dr. Fatima Denton - UNU-INRA, Director
Dr. Zita Sebesvari - UNU-EHS, Director
Professor Shinobu Yume Yamuguchi – UNU IAS, Director
Dr. James Murombedzi - UN ECA (ACPC), Coordinator
Dr. Minoru Takada - UN DESA, Team Lead
Dr. Jean Paul Adam – UN ECA, Director Technology, Climate Change and Natural Resources
(Tbc) Osagyefuo Amoatia Ofori Panin Okyenhene - King of Akyem Abuakwa of Ghana
(Tbc) Prof. George Gyan Baffour - Minister for Planning and Development, Ghana