Elumelu Meets King Charles III, Biden, Others At Climate Finance Mobilisation Forum In London, UK

By Lateef Adegbite

For much of last June and now, Tony Elumelu, a business mogul and a well-known African Philanthropist   has been shuttling between Nigeria and Europe to attend one international conference or the other in the interst of the African Continent.

 One of such international conferences which he had attended  as  a New Global Financing Pact signing summit  hosted by President   Emmanuel Macron of France   in Paris , the Capital. The Nigeria business mogul was said to have used the opportunity of the Summit to meet some of the movers and shakers of the global economy including world leaders and Nigeria’s President Bola Ahmed Tinubu.

The Summit for  a New Global Financing  Signing Pact ,  which the Pan African Bank, United Bank for Africa ,  UBA , Chairman , had participated last June   was said to have ‘’laid the ground work  for a new financial system  suited  to the challenges  of the 21st century and a system  that will boost investments  in green infrastructure and create  solutions  to climate vulnerability’’.

The most recent of such international Conferences attended by the Nigerian innovative investor and Chairman,UBA, was the Climate Finance Mobilisation forum in London, United Kingdom, UK.

Elumelu, Biden ,US, President And , King Charles, IIII, In A Pix

Given the goals of the Paris  agreement  which requires  unlocking  private   sector investments  in an unprecedented speed and scale  may have informed why  he had attended the UK, climate finance mobilisation forum , which was said to have been attended by President Joe Biden of the North American country of the United States, US and other world Leaders.

Elumelu has every reason to attend the global climate Finance Mobilisation forum in UK, because ‘’it will help attract a new generation of capital to combat the world climate change’’. This is because  the African Continent comprising of  55 countries and a population of  about 1.3 billion  people needs a just, fair , equal and  a realistic  strategy  to address  the inequalities  that exists  between the Continent and the rest of the world.

Eumelu ,  who is the most  prominent  advocates  for equitable  climate  finance , appears o be leading other African Entrepreneurs  , through the Elumelu foundations, according to informed sources is believed working   round the clock ‘’to create sustainable  climate solutions within the Continent’’.

The Leading African investor was said to have made the world leaders to understand that ‘’Africa has a significant energy deficit and must prioritize the provision of a mix of both traditional and renewable energy resource to address the deficit’’.

According to him, ‘’the emerging economies, particular, in Africa, will require ‘’an additional $1 trillion investment by 2023, to support a fair transition’’.Giving an insider information, he asserted that ‘’to mobilise this large scale of capital, the international Community needs to take bold actions and innovate new partnerships between public, private and philanthropic actors.

 He had said that recent trends show a decrease in renewable investments in the emerging African and other developing economies. Elumelu, who could not hide his feelings  noted  that ‘’African’s green revolution  requires  an urgent,  immediate  and significant funding  that is larger than the resources  available  to African governments and the private sector’’.

The UBA ,Chairman, may have  repeatedly said it  to the hearing of the world Leaders,  including  Biden of the US, and Rishi Sunak , Prime Minister of  Britain,  that ‘’African has contributed  the least  to  today’s  climate crisis  but has continued to suffer an outsized  impact of the climate change, which ought not to be.

Themulti-billionaire investor, who had represented   the Africa’s private sector  , was said to have been invited to the Climate Finance Mobilisation Forum, attended by King Charles III, of Britain,  Biden , Sunak and other world Leaders , by  Grant Sharps, UK, Secretary of State   for Energy Security and Net Zero and John Kerry , the US, Special Envoy on Climate. The invitation, according to diplomatic sources, was said to have come at the instance of the duo, King Charles III and Biden, the US, President.

Many believe that ‘’a net zero conversation on renewable energy that ignores, dismisses or underestimates the continent’s   current reality does the people more harm than good’’.  This may have informed why lumelu, had said  that ‘’Climate  Finance  investment  should deploy  capital in a mix  of  on and off-grid  solutions that are required  to deliver  affordable , reliable  and accessible  power in Africa’’.

He was said o to have insisted  that Africans  bear  ‘’the harshest  effects  of the world climate crisis and  are the least  responsible  for creating  the crisis  in the first  place’’.

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