Support Developing Countries to Meet Net-Zero Targets – Then Energy Minister Dr. Prempeh to Developed Countries
The then Minister for Energy of Ghana, Dr. Matthew Opoku Prempeh, called on developed countries to fulfill their climate finance commitments to help developing nations meet their net-zero targets. Speaking at the High-Level SDG Summit Action Weekend on Sunday, September 17, 2023, in New York, USA, Dr. Prempeh emphasized the critical need for financial support to scale up energy transitions in the developing world. The event, themed “From Billions to Trillions – Scaling-Up Energy Compacts to Deliver on SDG7,” was held on the sidelines of the United Nations General Assembly.
Dr. Prempeh noted that achieving Sustainable Development Goal 7 (SDG7)—ensuring access to affordable, reliable, sustainable, and modern energy for all—requires substantial investment, which many developing countries struggle to meet. He highlighted the reliance on wood fuel across much of the developing world as a key concern. Without intervention, he warned, the continued use of such fuels could reverse progress made in combating climate change.
“As the heartbeat of every economy, energy is crucial for Africa’s socio-economic development,” said Dr. Prempeh, who also serves as the Member of Parliament for Manhyia South. “Our right to develop our energy resources for the benefit of our people must be respected and free from interference.”
Africa’s Industrialization Hinges on Natural Gas – Dr. Prempeh
Former Energy Minister of Ghana, Dr. Matthew Opoku Prempeh, has underscored natural gas as the key resource to drive large-scale industrialization in Africa, crucial for narrowing the persistent development and poverty gap between the continent and the rest of the world.
Speaking at the Gas Day session of the Nigeria International Energy Summit on Thursday, 29th February 2024, Dr. Prempeh emphasized the importance of African-led financing in developing the continent’s natural gas resources.
“We must begin to mobilize funds through local financial institutions and foster stronger collaboration among ourselves,”
he urged.
Dr. Prempeh highlighted the potential of the African Energy Bank—an initiative Ghana supports and hopes to host—as a critical instrument in raising competitive financing for the rapid development of gas projects. He stressed the importance of investment not only in extraction but also in infrastructure for research, processing, transportation, and transformation of natural resources.
”Ghana’s Energy Future Will Be Anchored on a Pathway Towards Carbon Neutrality.
Dr. Matthew Opoku Prempeh speaking atUK-Africa Industrial Decarbonisation Ministerial Tour - London
