Green pragmatism takes center stage as Singapore state investor hosts African companies

By Steve UMIDHA

Watch: https://www.youtube.com/watch?v=ZGK80t2CJCc&t=134s

The biennial Africa Singapore Business Forum (ASBF) is currently underway at the Grand Copthorne Waterfront in Singapore, bringing together a wide range of business leaders and thinkers under one roof.

Watch: https://www.youtube.com/watch?v=mCNzHJ1qPng&t=2s

A focus on environmental awareness at this year’s forum – alongside issues related to geoeconomics and climate commitments – indicates the significant extent to which Climate Change, as we know it, is expected to shape our world.

But this year, green pragmatism is expected to take center stage amid the growing, wide-reaching discourse on transitioning to a net-zero world, where the summit’s attendees will seek to chart practical solutions meant to mitigate the adverse impacts of climate change through partnerships and respites.

Read: https://www.financialfortunemedia.com/unlocking-east-african-market-access-enterprise-singapore/

Already, the push for sustainability across Africa, driven by climate pledges and growing environmental responsiveness, has unlocked opportunities in the green economy, with two critical agreements signed on Tuesday between a Singaporean tech firm and a Ghanaian company on land management.

Signed treaties

Singapore-based climate technology company Arkadiah Technology will partner with Ghana’s CJ Commodities Limited, its sister company Afarinick Company Limited, and Oman Carbon to launch a large-scale agroforestry project in Ghana.

The initiative has been accepted under Stage A of the Singapore–Ghana Implementation Agreement, and seeks to restore degraded landscapes and improve rural livelihoods while generating high-integrity carbon credits through nature-based solutions.

It is part of a wider plan by the Singapore administration to partner with African firms on climate change and sustainability for mutual benefits as it seeks to secure a stable supply of carbon credits to meet its net–zero goals, while providing investment openings for its firms to tap into Africa’s abundant natural resources and the Continent’s nascent green economy.

“Africa is disproportionately impacted by climate change, but despite its vulnerability, it holds many of the solutions. From renewable energy potential to natural carbon sinks, the continent is uniquely positioned to drive global decarbonisation.

With the right partnerships, Africa can lead the way in the clean energy transition, transforming climate challenges into shared global opportunities,” offered Damilola Ogunbiyi, CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All, and Co-Chair of UN-Energy.

According to the World Economic Forum (WEF) by Centre for Regions, Trade and Geopolitics, climate change disproportionately impacts low-emitting countries, including those in Africa. And despite contributing minimally to global emissions, Africa faces severe climate events that outstrip its capacity to adapt.

“To bolster climate action, the international community has committed to providing finance, technology, and capacity-building support to developing nations as outlined in the United Nations Framework Convention on Climate Change (UNFCCC).

The debate between phase-out and phase-down of fossil fuels highlights the Global South’s call for a just transition to renewable energy, recognizing historical disparities and the need for support,” it notes.

Arguing that, to effectively fund the climate transition in Africa, countries within the continent would not just help in the global effort against climate change, but provide a major boost to develop the continent’s vast natural and renewable-based potential.

Summit’s expectations

The three–day event, which comes to a close on Thursday, will see participants from Africa, Singapore, and the wider Asia-Pacific region glean insights from industry leaders on topics such as Africa’s rapidly evolving built environment sector, trends in African consumer markets, and Africa’s role in the global energy transition.

Such treaties are expected to boost investor confidence by protecting interests and facilitating greater investment flows between Singapore and the two West African markets.

Since it was launched in 2010, ASBF has brought together over 5,000 business and government leaders from over 50 countries to explore partnerships and growth opportunities between the two regions, with this year’s forum expected to further foster trade between Africa and Asia.