African nations must be allowed to develop fossil fuel resources to help lift their people out of poverty, governments said at the COP27 climate talks in Egypt, which welcomed leaders of oil and gas companies sidelined at previous talks.
Pressure to leave hydrocarbons in the ground has been weakened this year by the disruption following Russia's invasion of Ukraine that led to a surge in energy prices and pushed inflation to multi-decade highs.
Echoing comment from other African nations, Shino said wealthy countries had failed to deliver promised funding that would help them to expand clean energy instead of exploiting their fossil fuel resources. Apart from Namibia, countries including Mauritania, Tanzania, and Senegal are working with Western energy companies to develop oil and gas fields for export and to generate electricity for local communities.
A spokesperson at BP confirmed the CEOs attendance at the event and said BP was assessing the suitability of the wind and solar resources for large-scale renewable power generation and production of hydrogen from renewable energy. Saying Germany was prioritising clean energy, she also cited a German deal to help fund Kenya's efforts to have a fully-renewable energy system by 2030.Government officials and executives said the interest of Egypt, host to the UN climate summit, in developing its resources had led to a thawing in attitudes towards oil and gas companies.
Scientists and other energy experts have said investment in fossil fuel must cease if there is any chance of limiting global warming to 1.5 °C, the point beyond which climate impacts are expected to worsen significantly.
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