COP21: France to spend billions on African renewable energy projects
Published: 02 Dec 2015
Yesterday François Hollande announced that France plans to spend billions of euros in renewable energy and environmental project in former west African colonies and across further African nations over the next five years.
Currently Africa is producing a small proportion of the greenhouse gases directly related to the rapid increase in climate change. However the nation is particularly vulnerable to the impact of climate change as much of its population rely on rain-fed agriculture.
Hollande told members of the climate summit that his government would double investments including investment in wind farms, solar and hydroelectric projects amounting to a value of 2 billion euros.
Hollande also announced that Paris would triple its investment o €1bn a year by 2020 in its contribution to Africa's struggle with desertification and other related climate change issues.
A large proportion of this investment will be supplied to former west African colonies where Paris currently has significant security interests and has thousands of troops currently deployed to fight Islamist militants.
Leaders of the African nations want the biggest polluting nations to commit further to supporting and financing the developing worlds shift to renewable energy. This includes supporting the green climate fund which aims to dispense $100bn a year after 2020 as a way to finance the developing world’s shift towards renewables.