Frontline international law expert, Professor Damilola Olawuyi (SAN) has called for increased financial incentives and support to drive private sector investment in homegrown energy solutions needed to address energy poverty across the continent.
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The Senior Advocate of Nigeria (SAN), who is also a UNESCO Chair on Environmental Law and Sustainable Development at HBKU, made these remarks while delivering a compelling keynote lecture at the 13th Annual Conference of the African Society of International Law held in Lagos, Nigeria.
Themed “Africa and the Energy Transition” the conference brought together lawyers, business executives, diplomats, and leading experts from across Africa, including Prof. Makane Moise Mbengue, Professor at the University of Geneva, Switzerland and President of the African Society of International Law; Funke Adekoya, SAN, Independent Arbitrator and Chair of the 2024 AfSIL Annual Conference; Laurie Achtouk-Spivak, Partner, Cleary Gottlieb; Prof. Yenkong Ngangjoh-Hodu, of the University of Manchester; Prof. Yinka Omorogbe, SAN, CEO & Founder, EtinPower Limited; Dafina Atanasova, Economic Affairs Officer, UNCTAD; Chidi Momah, General Counsel & Company Secretary, Nigerian National Petroleum Company Ltd; Prof. Yemi Oke, SAN, Professor of Energy, University of Lagos, amongst other notable speakers.
In his distinguished keynote lecture, Professor Olawuyi, SAN noted that “The clean energy transition is both an urgent necessity and a profound opportunity for Africa. It is an opportunity for African countries to leverage their comparative advantages as suppliers of natural gas, as well as energy transition minerals, that are in high demand across the world and needed to power renewable energy technologies as well as hydrogen infrastructure projects. It is also an opportunity to homegrown energy entreprenuers to unlock mini and micro energy grids that can deliver clean and reliable energy to undeserved communities.”
While noting Africa’s potential as a strategic hub for solar, wind and hydrogen projects, Olawuyi called on governments across the continent to make the investment climate more attractive to foreign and homegrown energy entreprenuers in order to sustain the need investment flow in technlogy and energy investments. ‘In my travels, I see that several investors worldwide are seeking new hubs for green investment, but are we ready for such green opportunities? We cannot attract the sustained investment flows needed to achieve a just energy transition without addressing barriers that energy entreprenuers face in Africa. I look forward to working with all of you in profferring practical and innovative solutions in this regard.” he noted.
Olawuyi also called on investors and businesses to align their business practices, policies, processes, governance structures and decisions with the international law requirements, most especially the requirement to ‘respect, promote and consider human rights when taking action to address climate change.’ He challenged all stakeholders to avoid greenwashing and misleading claims on energy transition programs through clear, credible, transparent, and accessible reporting. “Civil society and impacted communities, including Indigenous Peoples and human rights defenders, play a critical role in enabling businesses and investors to identify, prevent and address human rights risks.” said Olawuyi.
The ensuing panel discussions at the conference examined the legal, conctractual and regulatory innovations to unlock fair and inclusive investments, as well as technologies needed to ensure that African countries are not left behind in the ongoing global energy transition.
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