President Cyril Ramaphosa said that cutting investments in fossil fuels is a great threat to Africa.This summit hosted leaders of G7 countries and President Ramaphosa was participating in working sessions where Climate, Energy, Health as well Global Food Security, and Gender Equality were discussed.
He highlighted that the proposed regulations have the potential to limit the ability of enterprises to supply key export industries with sustainable energy solutions and impact their global competitiveness. “Abrupt disinvestment from fossil fuels by international financiers poses a great risk to Africa because of the impact on jobs, stranded assets, national economies, energy, and food security,” he added.
President Ramaphosa discussed issues of food security, fuel supply, and increasing local production on items that are currently in low supply due to the conflict in Ukraine.
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