Friday, 4 March

Dear <<First Name>>

A shocking report by the Intergovernmental Panel on Climate Change (IPCC) released this week has removed any possible doubts over the potential impacts of climate change.

The review is the second part of the IPCC’s sixth assessment report, and follows an earlier publication last year that focused on the physical basis of climate science. This time around the focus was on human well-being and the health of the planet, and the authors pulled no punches, warning that any further delay in global action to slow climate change and adapt to its impacts “will miss a brief and rapidly closing window of opportunity to secure a liveable and sustainable future for all”.

UN secretary-general António Guterres declared the findings "a damning indictment of failed climate leadership”.

But amid growing despair at the continued lack of global action, I - like many others, I am sure – took great solace from the words of Ukrainian scientist and IPCC member, Svitlana Krakovska. With Russian troops preparing a mass assault on her home city of Kyiv, Krakovska spoke to the BBC of her amazement at her countryfolk’s unification against its enemy, reminding us that “if we all unite against climate change, we can survive as a civilisation". And to do that, of course, means breaking our resilience on fossil fuels and transitioning rapidly to low carbon and renewable energy sources now.

If you want to read more on Camco’s reaction to the report, check out our Head of Risk Alec Joubert’s reflections here, and those of our Impact Manager Laura Lahti here.


Geoff Sinclair

Managing Director, Camco Clean Energy

Story of the week
The Intergovernmental Panel on Climate Change releases Impacts, Adaptation and Vulnerability report on Climate Change. The conclusions show that human activity is destroying the environment at an alarming rate.
Camco news
Camco welcomes seven fantastic new hires including associates, analysts and a strategic advisor in the Pacific.
Spark news
A 90kWp solar rooftop project near Nairobi was commissioned this week, making it the first completed project with Spark's development partner Safi Power. The installation at a paper manufacturing plant is expected to avoid 97 tCO2e each year.

West Africa

Ghana: First regional forum held to discuss energy transition plan (AllAfrica)
- Organised by the Ministry of Energy, the event had the theme ‘moving Ghana forward towards a net-zero future’ and was attended by chiefs, traditional leaders, policy makers, the private sector, civil society organisations and the media.

Nigeria: EU and Berlin subsidise electrification through mini-grid providers (Afrik21)
- With financial support from the EU and Germany, Nigeria’s Rural Electrification Agency is providing grants to eight green mini-grid electricity providers in rural Nigeria. 

East Africa

Kenya: Number of households connected to electricity reaches 8.6 million (TheEastAfrican)
- The Energy and Petroleum Regulatory Authority has claimed Kenya is the only country in East Africa with electricity access to over 75 percent of its population. 

Southern Africa

South Africa: Diversity of country's energy mix is a matter of policy and practicality (ESI)
- The Minister of Mineral Resources and Energy has reiterated that South Africa’s proposed energy mix remains inclusive of fossil fuels, for the moment.

South Africa: Renewable energy sector receives investment from abroad (EngineeringNews)
- Norwegian Norfund and British CDC Group are collectively committing ZAR600 million towards wind and solar projects, representing a joint vision between the two DFIs to mobilise climate finance to Africa.

South Africa: Wescoal halts production at Vanggatfontein Colliery (ESI)
- The site was placed on care and maintenance due to uncertainty about how long Eskom will take to renewing its coal supply agreement 

Africa - other

Africa: AfDB approves USD164 million for decentralised renewable energy (AfricanManager)
- The program aims to boost commercial and local currency investments to scale up activity across six African countries.

Africa: African Trade Insurance Agency relaunches its Regional Liquidity Suport Facility (ATI/YouTube)
- The facility aims to mitigate liquidity risk, and the new ad improved version will cover new markets, have easier contractual structure and reduced costs for renewable energy projects in Africa.

Egypt: Amerenco invests in solar energy (Afrik21)
- In a joint venture with SolarizEnergy, Amarenco has signed an agreement to jointly develop a 300MW solar plant for C&I customers.

Rest of the world

Climate change: Latest IPCC report highlights impact of human activity on the climate (ESI)
- The report indicates that humans are depleting the environment at an alarming rate and safeguarding ecosystems and strengthening nature is key to our survival. 

Renewable energy: Largest coal producer in US launches renewable energy venture (REW)
- Peabody plans to develop utility-scale solar and battery storage projects at old mine sites.

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