Stranded asset risk in Africa on the rise

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Gulf
  • Date: 02-Mar-2022
  • Source: Energy Voice
  • Sector: Oil & Gas
  • Country: Gulf
  • Who else needs to know?

Stranded asset risk in Africa on the rise

Investments in Africa’s oil and gas risk undermining a move to lower carbon energy sources and are at risk of becoming stranded assets, according to a new report.

The report, “Locked out of a just transition: fossil fuel financing in Africa”, highlights the role that banks and state-backed funders have played in hydrocarbons.

The report is from a consortium of environmental NGOs. These include BankTrack, Milieudefensie and Oil Change International. The report also has 20 African partners, including 350Africa, AIESEC from Ghana, and WEP Nigeria.

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