Africa presented with opportunity to flourish in green business

Africa has the potential to curb unemployment as it tackles its challenges head-on and explore green business.

The Africa Environment Outlook for Business shows that the continent stands to benefit from vast ecologically friendly business opportunities regardless of a triple planetary crisis – three global environmental challenges of climate crisis, pollution and biodiversity.

Published by the UN Environment Programme (UNEP), the research drew inspiration from the challenges that have been constantly affecting business on the continent.


The study shows that ocean renewable energy remains untapped while it can be possible for it to produce at least 100% to 400% of energy demand across the world.

Africa has also had a vast opportunity to create reserves for critical minerals and can stand to profit from smart buildings, efficient industrial processes and lighting systems.

UNEP director and regional representative for Africa Rose Mwebaza said it is time to turn negatives into positives for the progress of the continent.

“Africa faces not just incredible challenges on climate change, nature loss, and pollution, but has a uniquely dynamic economic landscape, youthful demographic, and opportunities for decarbonisation, digital transformation and for leveraging an environmental, social and governance,” said Mwebaza.

“With this new report, we hope to inspire African entrepreneurs and business, especially audacious first movers, to engage in green growth and contribute to sustainable development growth.”

UNEP deputy executive director Elizabeth Mrema said this is the opportunity to start cultivating and taking up the space to create business and employment opportunities.


Mrema said: “This report shows that policymakers can create an enabling environment for investments that address the triple planetary crisis by adopting robust regulatory frameworks, investing in research, innovation, and education, as well as prompting public-private partnerships and fostering collaboration across governments, businesses and local communities.”

 

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