malvernmugadzikwa
Kuda Bwititi in BAKU, Azerbaijan
AS the world grapples with worsening impacts of climate change, the momentum of the green revolution has become a defining theme of global discourse.
This was the resounding message at the 29th United Nations Climate Change Conference (COP29), which began last week and runs until November 22.
With over 72 000 delegates, 80 Heads of State and Government, and representatives from nearly 200 countries, COP29 underscored a global collective commitment to tackling climate change.
The conference has highlighted not only the inevitability of the green revolution but also its rapid acceleration across the globe.
In his remarks at the COP29 World Leaders Climate Action Summit that ran from Tuesday to Wednesday, United Nations Secretary-General Mr António Guterres delivered an emphatic declaration on the green revolution.
“The clean energy revolution is here. No group, no business and no government can stop it,” he said.
Rising investments in green energy
Mr Guterres said a historic turning point has been reached in the global energy revolution.
For the first time ever, global investments in green and renewable energy surpassed those in fossil fuels.
“Last year — and for the first time — the amount invested in greens and renewables overtook the amount spent on fossil fuels,” he said.
“And almost everywhere, solar and wind are the cheapest sources of electricity. So, doubling down on fossil fuels is absurd . . .”
This pivotal shift signals the rise of clean energy, presenting an opportunity for nations to collectively limit global temperature rises to 1.5 degrees Celsius.
Zimbabwe is embracing this revolution.
Speaking at the World Leaders Climate Action Summit, President Mnangagwa outlined the country’s efforts to promote green energy.
“Zimbabwe presents vast opportunities for carbon trading, particularly through investments in solar, wind, mini-hydro, waste-to-energy and geothermal power generation, afforestation, reforestation and agro-forestry,” he said.
Zimbabwe, President Mnangagwa added, is also prioritising the creation of green jobs, as the country aspires to transition from a mere supplier of raw minerals to a key player in the global renewable energy sector.
He made these remarks on Tuesday while addressing a COP29 High-Level Roundtable on Energy, which was held under the theme “Advancing Climate Mitigation Action”.
“In 2023, policies were enacted that scale down the export of unprocessed minerals by incentivising local beneficiation and value addition. A mines-to-energy park is under construction to facilitate the beneficiation and exploitation of the entire green minerals value chains,” he said.
“Zimbabwe’s goal is to transform from a supplier of raw minerals to a notable participant in renewable energy technology products and solutions while creating green jobs, fostering sustainable industrialisation and economic diversification.”
Beneficiaries of this transformative shift to renewable energy are mainly expected to be youths and women.
Opportunities for green investment
At COP29, foreign investors who spoke to The Sunday Mail said they see opportunities in green investment in Zimbabwe.
Green Valley Capital managing partner Mr Paul Walentynowicz said, although most of their green energy projects are in West Africa, they were willing to work with Zimbabwe.
The company has partners in London, Brussels, Warsaw and Helsinki.
“We are orchestrating large-scale financing towards African countries by engaging the Global North financing, mainly institutional investors on one hand and, on the other hand, grants to support the energy transition in Africa. We are mainly focused on West Africa at the moment, but it is going to be much larger in Sub-Sahara.
“We believe that the energy transition is an important step.”
The company finances projects in agro-forestry. It also specialises in funding projects for energy storage.
Local innovations
Local companies are similarly driving Zimbabwe’s green revolution.
Geo Pomona Waste Management chief executive officer Mr Dilesh Nguwaya, whose company has transformed the former Pomona dumpsite into an eco-friendly facility, said COP29 was an eye-opener.
“We are here to attend informative sessions, learn from global experts and share our experiences in waste-to-energy strategies,” he said.
Deliberations at COP29 showed that significant investments are being made in energy storage technologies, such as batteries, to ensure a reliable and efficient energy supply, even during periods of low renewable energy generation.
Another game-changer in renewable energy is green hydrogen, which is produced using renewable
energy.
It is emerging as a clean fuel source with the potential to decarbonise various industries, from transportation to manufacturing.
Other issues highlighted at the indaba include climate finance and just transition, which entails that developed countries should increase climate finance to support developing
nations in their transition to clean energy.
Delegates emphasised the need to ensure a just transition that leaves no one and no place behind.
COP29 also spotlighted the importance of innovation and collaboration among governments, businesses and civil society to drive the clean energy transition.
It is clear that the growing threat of climate change is driving countries across the globe to take decisive action.
The clean energy revolution is no longer a distant vision but an unfolding reality reshaping the planet, ushering in a transformative era that holds the promise of a sustainable future for all.
Online Reporter