Global energy transition and aftermath of Baku COP29 (2)  

Renewable energy sources, like wind and solar, are part of the numerous solutions in the global energy sector that can be optimally accessed, to strategically generate energy and be effectively utilised towards solving the many environmental problems created by the consumption of fossil fuel-based energy products (the traditional high carbon energy sources). These fossil fuel energy sources are known to have been scientifically proven to be the major source of carbon emissions that are heating up the entire globe, with its global threatening consequential impact of climate change. However, there are still other aspects of driving this energy transition process away from fossil fuels that involve energy storage improvements and energy efficiency through usage modes. Renewable energy, of course, should be viewed as a selling point for an effective actualisation of an energy transition programme in the entire globe. This is because it represents the green solutions in all aspects of carbon neutrality or towards a net-zero target for carbon emissions of greenhouse gases. Renewable energy is recyclable, and also maintains the energy conservation law. These green solutions in the fight against the impact of climate change, on the other hand, cannot forego the energy mix of renewable energy supply sources, without mentioning the innovative development of electrification like the trending electric cars/vehicles in the global energy transition.

In the energy sector, transition plans, programmes and activities involve the action taken towards moving away from continuous engagement of fossil fuel sources in the production and consumption of energy required by mankind, “to do work”. As a phenomenon “energy is life”, and without energy supply, no work will be done, and everything will be grounded and remain at standstill. Human life cannot function without energy. This is why the COP29 session at Baku, in Azerbaijan is considered very strategic in the financial compensatory negotiations for the developing nations because global energy business is inevitable.

COP29 is considered by the United Nations Partnership for Action on Green Economy (PAGE) & co, as a just transition for its bold climate measures; debating on a just transition for the enhanced ambition of everyone towards building the required social consensus to implement bold climate measures. The global energy activities therefore demand programmed long-term strategies that will effectively create cleaner and sustainable options of energy production and consumption, carefully and professionally arranged through an energy mix that shall efficiently and effectively reduce carbon emissions (in addition to decarbonisation strategic procedures and processes).

From the just concluded COP29 session at Baku where compensatory packages were discussed as carbon finance for the poorer developing nations, the efforts being made globally by over 200 nations on global energy transition towards achieving cleaner energy seem not to be yielding the expected speedy results because of the underlining international politics by some nations that are still growing their emissions despite promises already made. Some of these nations (including heavy emitters of carbon) push towards achieving carbon neutrality net zero targets farther away, but the levelling factor still remains the global catastrophic consequences that shouldn’t be ignored at all. Therefore, all nations ought to consider in strictest terms the urgency and importance this global challenge demands in tackling the threatening global weather effects against mankind on this planet.

Representations were equally made from Nigeria in their huge numbers, but what impact would it have in the economy, towards salvaging our land from extreme drought, desertification, flooding, water pollution and destruction of aquatic lives and farmlands, especially in the Niger Delta region? The polluters of our fresh and sea waters through oil spillage, while oil drilling and exploration activities go on; alongside the near impossible redeemable farm lands in those areas, should be aggressively pursued and vigorously addressed.  The host communities in those environmentally devastated regions should be salvaged and repositioned to recover economically from the deprivation from their core traditional economic activities and trades like fishing and farming. The existing Petroleum Industry Act (PIA) as established, should be invoked to offer some level of protection to these host communities for recovery of the lost opportunities they have suffered all these years in the hands of international oil companies doing serious oil business on their soil. They owe their landlords (the indigenes) that moral obligation to rebuild and sufficiently amend what they damaged in the course of their oil exploration. 

What Nigeria needs to do at this critical time, is to look inwards (with or without the promised, earmarked compensation voted for the developing nations @COP29, Baku) and legally engage the oil and gas players in the industry, to minimise carbon emissions, clean and rebuild the ecological habitats damaged in the past, while their fossil fuel energy business thrives and optimally lingers towards a terminal point of exit, since the hydrocarbon operation still generates significant foreign exchange accruals through oil exports.

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