GreenCo at COP
This week the UN’s 27th Annual Conference of the Parties (COP27) takes place in Sharm El-Sheikh. Egypt’s summit theme is ‘implementation’. Shifting the focus from negotiations and planning to action on the ground, where it is most needed. GreenCo is delighted to announce that our non-executive Directors Mr Alex Simalabwi and Ms Ina Hoxha will be representing GreenCo at COP over the next week – please kindly inform us if you should like to have a meeting with them at COP.
At COP 26, the UK and Zambia signed a new landmark partnership – “The Green Growth Compact” to drive sustainable economic growth. One year on we are delighted that under this compact an investment was made into GreenCo – a new buyer and trader of renewables thorugh which additional renewable energy generation can be delivered in collaboration with the national utility ZESCO. Under an IMF programme, such private sector led innovations will play a critical role in catalyzing new generation whilst imposing far lower contingent obligations on the national treasury. Please come and see the Zambian COP 27 pavilion for more information about Zambia’s energy transition towards renewables.
For COP27, Zambia was elected as chair of the African Group of Negotiators on Climate Change. As a result, Africa GreenCo and Stanbic Bank Zambia pledged in December 2021 to collaborate and contribute to climate change and sustainable development impact in Zambia and the rest of the region. Today Africa GreenCo and Stanbic Bank Zambia are delivering on their pledge by working on iMetric, an impact platform that monitors and quantifies sustainable development impacts in the renewable energy and the financial services sector. Ms Helen Lubamba, Head of Corporate and Investment Banking (Stanbic Bank Zambia) will present this work at COP27. Under the leadership of Dr Sepo Musokotwane, GreenCo’s Impacts Research Lead, Joel Samasuwo (GreenCo’s Impacts Advisor) and Blaz Vudric (Lead Software Developer), iMetric was developed as a response to the immediate and urgent need to facilitate and mobilize action for impact measurement as businesses operate. For more information about iMetric please see:
Last but not least: we hope this COP will truly result in implementation and not just talk. It gives us hope that in the Southern African context a high-level side event of the Heads of State and Government of the SAPP member states is taking place tomorrow, 8th November at the VVIP Area – meeting room 20 from 15:00 to 17:00. If we want rapid expansion of reliable and affordable electricity it is essential to support regionalized grids and power pools such as SAPP. Power pools and promotion of renewable generation are game changers that could shape the energy landscape over the next 25 years. For more information please see:
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