Heir Holdings Chairman Tony Elumelu will join King Charles III of the United Kingdom and US President Joe Biden at the Climate Mobilization Forum.
The forum in London will help attract a new generation of capital to fight climate change.
A statement said, achieving the goals of the Paris Agreement will require the release of private investment at an unprecedented pace and scale.
Elumelu is one of Africa’s most prominent advocates for equitable climate finance and through the Tony Elumelu Foundation, is a leading source of funding for young African entrepreneurs working to develop sustainable climate solutions.
“Africa needs a just, equitable, equitable and pragmatic strategy to address inequalities between Africa and the rest of the world,” Elumelu said.
According to the statement, Africa has a critical energy shortage and needs to prioritize a combination of traditional and renewable energy supplies.
The report said emerging economies, especially in Africa, will need an additional $1 trillion in annual investment through 2030 to support a just transition.
The world needs bold action and innovative new partnerships between public, private and philanthropic actors to mobilize this level of capital.
The statement said recent trends show that investment in renewable energy in emerging and developing countries is declining.
“Africa’s Green Revolution required urgent, immediate and substantial funding that exceeded the resources available to African governments and the private sector,” the report said.
It added that Elumelu, who represents the private sector in Africa, had been invited to the forum by the UK Secretary of State for Energy Security and Net Zero, Grant Sharps and the US Presidential Special Envoy on Climate, John Kerry. This invitation was made at the request of Charles III and US President Joe Biden.
