North Macedonia has launched a just energy transition investment platform at the UN Climate Change Conference (COP28) in Dubai. The platform aims to guide the country's plans for a low-carbon and just transition of the electricity sector. It seeks to phase out coal-fired power, deploy 1.7 gigawatts of renewable energy by 2030, invest in grid and storage for energy security, and support communities affected by the transition. North Macedonia aims to reduce its net greenhouse gas emissions by 82% by 2030 compared to 1990 levels. The platform will also support regional economic diversification and human capital development to address potential disparities resulting from the transition. The country requires substantial investments of about €3 billion by 2030, which are expected to be mobilized through the private sector. The Climate Investment Fund is considering providing up to US$85 million of grants and concessional finance for the coal-affected regions. The platform is a collaboration between the government, international finance, and the private sector. The European Bank for Reconstruction and Development (EBRD) is partnering with North Macedonia to support the forging of partnerships for the platform. The EBRD aims to leverage its experience in climate finance and just transition initiatives to support the delivery of North Macedonia's high ambitions.
Meanwhile, Zimbabwe is also focusing on transitioning to a greener and more environmentally friendly energy sector through collaborations with international investors. Agreements were signed between Zesa Holdings and three international partners from Sweden, the UK, and the United Arab Emirates. The agreements include the construction of a robotic manufacturing plant to produce solar collectors, the support of renewable energy development, and the establishment of a local cable production plant. The partnerships aim to reduce reliance on coal-fired boilers, integrate renewable energy sources into the national grid, and address the shortage of equipment and material for customer connections and underground cables. The Minister emphasized that these agreements align with Zimbabwe's goals and the government's Vision 2030 objectives. The partnerships also demonstrate Zimbabwe's commitment to attracting foreign direct investment and fostering economic growth through collaborations. The ongoing COP28 provides a platform for nations to exchange ideas and forge partnerships for a sustainable future.
In addition, the President of the African Development Bank Group, Dr Akinwumi Adesina, warns that the introduction of a carbon border tax by the European Union could push Africa back into exporting raw commodities and undermine its industrialization gains. Adesina spoke during a high-level panel session at the Doha Forum on December 10, emphasizing the need for just trade for a just energy transition. He argues that the carbon border tax would penalize African countries, as it would impose an 80 euros per tonne border tax on African companies exporting cement, steel, aluminum, and fertilizers to Europe. Adesina estimates that Africa would lose $25 billion annually due to this tax. He also highlights the importance of a balanced energy mix that includes natural gas for Africa's industrialization and calls for a carve-out for Africa on the taxation. Adesina criticizes developed countries for shifting the goal post in the differentiated responsibility within the Paris Agreement by forcing developing countries to achieve net-zero carbon emissions earlier than stipulated. The Doha Forum is a global platform for dialogue on critical challenges. [e01f31f2] [e0092736] [4664aaa6]