Tony Elumelu, Nigerian entrepreneur and chairman of Heirs Holdings, will join King Charles III and the President of the US, Joe Biden at the climate finance mobilisation forum in London.
The forum is being organised by John Kerry, US special presidential envoy for climate, and Grant Shapps, UK energy secretary, takes place on Monday,
According to the organisers, the aim of the forum is to advance discussions on climate donations from the private sector, as well as attract capital for developing countries to tackle climate change.
Elumelu, a well-known promoter of Africapitalism will be representing the African private sector.
The entrepreneur said the London climate forum is pertinent because the world needs bold action and innovative new partnerships among public, private, and philanthropic actors.
Elumelu said climate finance investments should deliver affordable and accessible power in Africa, adding that the provision of a mix of both traditional and renewable energy should be prioritised.
“Africa needs a just, fair, equal and a realistic strategy to address the inequalities that exist between Africa and the rest of the world,” Elumelu said.
“A Net Zero conversation that ignores, dismisses, or underestimates the continent’s current reality does us all more harm than good.
“Climate finance investment should deploy capital to a mix of on and off-grid solutions that are required to deliver affordable, reliable, and accessible power in Africa.
“Africans bear the harshest effects of the climate crisis and are the least responsible for creating this crisis in the first place.”
The forum comes weeks after the global finance pact summit in France hosted by France President Emmanuel Macron.
The Paris Summit forms the foundation for a new financial system to boost investments in green infrastructure and create innovative solutions to climate vulnerability.
Last week, in Nigeria—President Tinubu suspended the commencement of the collection of the “Green Tax” introduced by the last administration.
