Liberia to Benefit from US$ 3trn of Green Investment
.... …Shortlisted for NDC Investment Awards
The Africa Nationally Determined Contribution (NDC) Investment Awards has recognized Liberia for having ambitious climate change investment initiatives that would contribute to its commitment to the Paris Agreement.
The government, while submitting Liberia’s revised NDC in 2021 committed itself to reducing economy-wide greenhouse gas emissions by 64 percent below the projected business as usual level by 2030.
The country’s revised NDC was constructed from GHG mitigation targets across nine key sectors including agriculture, forests, coastal zones, fisheries, health, transport, industry, energy, and waste as well as cross-cutting targets for urban green corridors.
It also includes climate change adaptation targets for all sectors except industry.
Interestingly, the Africa Investor a leading international investment group at the African Heads of State and Government-Institutional Investor Climate Finance Dialogue held at the margins of the High-Level Segment of the 77th Session of the UN General Assembly in New York announced that Liberia has been shortlisted for the 2022 Africa NDC Investment Awards for putting forward some of the best investment opportunities that will achieve and contribute to the NDC commitments of the Paris Agreement.
Liberia’s NDC is among the 100 best shortlisted NDC projects announced. Africa Nationally Determined Contribution Investment Awards were launched in June at the Commonwealth Heads of Government Meeting in Kigali.
Sponsored by the African Green Infrastructure Investment Bank (AfGIIB), the awards which are the first of their kind are designed to recognize achievements across the main NDC project sectors and reward the governments, institutions, and individuals driving transactions and improving the investment readiness of Africa’s NDC projects requiring US$3trn of investment by 2030.
The NDC Investment Awards Ceremony will take place on November 18, in collaboration with the host partners, the African Green Infrastructure Investment Bank at COP27 in Sharm El Sheike, Egypt.
Dr. Hubert Danso, Chairman of the Africa Investor Group and Chair of the NDC Investment Awards Adjudication Panel said “we are very excited about this new set of Africa investor Awards for African NDC project sponsors, developers, financiers, and investors.”
He disclosed that they are also happy with the caliber of shortlisted candidates, comprising 100 projects, representing $32bn of NDC financing and investment opportunities, from 43 African countries and all 5 African sub-regions.
“This growing community of leaders is critical to the continent mobilizing the required $3trn of green investment by 2030, to pursue Africa’s NetZero aspirations,” Danso said.
Continuing he noted, “We, therefore, consider ourselves privileged, to be showcasing and bringing global recognition to Africa’s NDC project development and investment community and promoting African NDC project investment opportunities and success stories.”
Liberia Environmental Protection Agency (EPA) Executive Director, Prof. Wilson K. Tarpeh, and Benjamin S. Karmorh, chief technical advisor at the EPA have been invited to participate in the grand NDC Investment Summit & Awards Ceremony, scheduled for 8 November 2022 at COP27 in Sharm El Sheikh, Egypt, where the winners will be announced.
In brief remarks, Prof. Tarpeh welcomes the news of Liberia’s NDC being among the 100 best NDC shortlisted for the NDC Investment Bank for putting forward some of the best investment opportunities that will achieve and contribute to the Paris Agreement’s commitments.
He is certain that Liberia will emerge as the winner of the wards on November 8, 2022, in Egypt, noting we have an ambitious national climate change agenda that will contribute to the global goals of the Paris Agreement.