In Africa green growth transition benefits outweigh costs by 3:1
The new report, Africa’s New Climate Economy, finds that economic transformation can revive Africa’s growth rates while promoting development and climate goals. The report details actions that can promote economic transformation and green growth in four key economic systems: unleashing the power of urbanization, transforming agriculture and land use, diversifying into manufacturing and other high-productivity sectors, and fostering a modern energy transition. It was launched on November 15 by Global Commissioners Carlos Lopes and Ngozi Okonjo-Iweala at a COP22 side event on “Greening Industrialisation in Africa,” co-hosted with UNECA, the AU, and AfDB.
Applying this larger framework to the country level, the new report with the Ugandan Ministry of Finance on Achieving Uganda’s Development Ambition quantifies the economic benefits of green growth. In an analysis of 23 green growth interventions, the report finds that they could increase Uganda’s annual GDP by 10%, worth US$11.5 billion by 2040, and reduce greenhouse gas emissions by 28%.
Across cities, agriculture, industry, and energy, the benefits of a green growth transition in Uganda outweigh the costs by a ratio of 3 to 1. A green growth scenario could generate 1.3 million jobs (gross) by 2020 and 4 million by 2040. On November 29, the report was handed over to the Ugandan Permanent Secretary of the Treasury, Keith Mukahinizi, in Kampala and it is a major input to the development of their Green Growth Strategy. The work was developed together with the EPRC, GGGI, and Coalition for Urban Transitions.