AFRICA
In Africa, Oil Change is supporting movement partners in challenging key proposed fossil fuel projects.
OVERVIEW OF WORK
In Africa, Oil Change is supporting movement partners in challenging key proposed fossil fuel projects and calling on African governments and institutions to stop fossil fuel expansion and support energy access and a just transition (see Addis Ababa communiqué).
Together with local partners, we’re working to shift energy financing away from fossil fuels and increase financing for distributed renewable energy to support the goal of providing universal access to all; increase public financing for distributed renewable energy that also ensures a higher degree of local ownership of solutions; expose the scale and source of financing for fossil fuel projects on the continent; support frontline groups in their efforts to resist harmful fossil fuel projects; and support and facilitate convenings for movement partners to support information, capacity sharing, and strategy development.
LATEST PROGRAM POSTS
Under pressure from civil society, eleven banks have now confirmed that they will no longer fund the controversial East African Crude Oil Pipeline.
When President Joe Biden signed his first set of Executive Orders on Climate Change and cancelled the Keystone XL pipeline project soon after his inauguration, he sent a very clear message to the global fossil fuel industry: it’s no longer going to be business-as-usual with fighting the existential threat that climate change poses to humanity.
A new briefing released by Oil Change International details how the growth of distributed renewable energy in Africa has so far failed to include locally-owned companies and initiatives. The sector has been growing rapidly since 2013 — especially for companies focused on “pay-as-you-go” solar home systems — but finance has overwhelmingly only been accessible for multinational companies that are based in Europe or North America or led by entrepreneurs from these regions, meaning profits are largely not remaining in Africa.
As the African Development Bank (AfDB) kicks off its first-ever Africa Investment Forum in South Africa, a new report finds that the AfDB’s own support for the most cost-effective energy access solutions lags far behind what is needed – in contrast to its world-leading pledge to scale up energy access on the continent.
LATEST PROGRAM RESEARCH
Overall, the MDBs are not financing energy access at nearly a sufficient level to meet the needs of energy-poor communities. Much of the energy access finance that is being provided is being directed to many of the communities that need it most. But even so, energy access is not reflected as a priority for the MDBs.
This report aims to provide a picture of the public finance flowing to energy infrastructure in Africa from fiscal years 2014 through 2016. It covers development finance institutions including multilateral development banks, as well as the national development banks and export credit agencies of the countries providing the most public finance to energy in Africa.