With more than $100trn of domestic and global institutional assets represented at the Summit, influential public and private sector investment leaders gathered at the COP28 Africa Investment Earthshot Leaders’ Summit, in the first major international gathering of institutional investors following the Africa Climate Summit. The aim is to shape an African investment Earthshot Investment Allocation Plan for the Nairobi Declaration and to mobilize private capital at a scale that can be deployed at speed, through Institutional Investor-Public Partnerships (IIPP’s) that can optimally marry African regional and global energy market demand, with Africa’s industrial and Just Energy Transformation and growth.

Hosted by the COP28 Presidency, in association with The African Union Development Agency (AUDA), The AU Continental Business Network (CBN), Africa Investor (Ai) Group, and The Energy Nexus Network (TENN), the Summit underscored that Green industrialization with global commercial, technology partnerships, and long duration offtakes, are the only way that Africa can leapfrog from a $9bn to a $7trn participation in global green value chains.

The Summit builds the Africa Climate Summit and the African Union’s 5% Infrastructure Investment Allocation Agenda (The 5% Agenda) to establish African green industrial infrastructure as a globally competitive investable asset class.

The COP28 African Investment Leaders Earthshot Summit was graced with keynote addresses from His Excellency Sheikh Shakhboot Nahyan Al Nahyan, Minister of State for Foreign Affairs of The UAE, H.E. Hage Gottfried Geingob, President of the Republic of Namibia, H.E. Bekele-Thomas, Chief Executive Officer of The African Union Development Agency (AUDA-NEPAD), H.E. Adnan Amin, CEO of COP28, Dr. Hubert Danso, Chairman, AU Continental Business Network (CBN) and the Africa investor (Ai) Group, and Dr. Kandeh Yumkella, Former UN Under-Secretary-General and Special Representative of the UN Secretary-General.

Africa Investment Earthshot initiatives showcased

Africa Investment Earthshot institutional ecosystem leaders, showcased several scalable, replicable, and bankable projects and initiatives capable of establishing African Green Industrial Infrastructure, as a globally competitive investable asset class, buoyed by the Nairobi Declaration as the enabling political framework, equivalent to America’s Inflation Reduction Act (IRA) and Europe’s Net Zero Industry Act (NZIA)), with the Africa Investment Earthshot’s Investment Allocation Plan as the institutional investor-public partnership private capital mobilization instrument.

The Summit also hosted and announced the winners of the prestigious 2023 African NDC Investment Awards, which was launched at COP27, to reward the governments, institutions, and individuals driving transactions that are improving the investment readiness of Africa’s NDC projects requiring $3trn of investment by 2030.

In her keynote address, H.E. Bekele-Thomas, Chief Executive Officer of the African Union Development Agency (AUDA-NEPAD), stated,

“We would ensure that this new institutional investor-public partnership is well reflected in the AUDA-NEPAD programme delivery report at the upcoming AU Heads of State Summit in 2024 and to building momentum throughout and in collaboration with the COP28 Presidency, with formal progress reports being presented at COP29 and the next Africa Climate Summit.

**ENDS**

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