Stranded asset risk in Africa on the rise
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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