REACT in Africa
Today, climate change and sustainability are rising to the top of the international agenda. Countries at all stages of development are increasingly establishing national climate change mitigation and adaptation strategies, within which donors are pooling funding, while the international architecture to respond to climate change continues to evolve.
Renewable sources of energy are becoming ever more important to sustainable economic growth. There is also a recognition that the countries likely to be hardest hit by changing climate are those least equipped to respond, but offer the greatest potential for innovative low carbon development and green growth pathways.
At KPMG, in the context of renewable energy and climate change technology, we offer the core services of programme and fund management, Promoting public sector and civil society innovation for sustainable development, and Engaging the private sector in Renewable Energy and Adaptation to Climate Technology (REACT) impact activities.
KPMG global Centre of Excellence on Climate Change and Sustainability
As part of our commitment to the cause, we have created the KPMG global Centre of Excellence on Climate Change and Sustainability (CC&S).
KPMG’s CC&S is a key resource for the firm, and informs KPMG’s work globally. The Centre has been involved in assessing and optimising climate change regulatory frameworks, such as tax and carbon emission regimes; assessing and benchmarking corporate sustainability programmes; and designing information systems on carbon emissions, corporate social responsibility and the implications of changing climate on the commercial supply chain. Our CC&S team comprises several professionals based around the globe, bringing expertise in a variety of sustainability-related fields.
KPMG global Energy and Natural Resources practice
KPMG’s global Energy and Natural Resources (ENR) practice assists major organisations in the oil and gas, power and utilities, mining and forestry industries to respond to industry trends and business issues. Our ENR practice is at the forefront of the industry. KPMG’s Global Energy Institute (GEI) was launched in 2007 and is a forum where financial executives in the energy industry can learn about industry challenges and opportunities, share best practices and conduct an ongoing dialogue about emerging energy-industry issues.
Key REACT projects in Africa
The Strategic Climate Institutions Programme (SCIP) in Ethiopia
The Strategic Climate Institutions Programme is a multi-million-dollar fund designed to build Ethiopia’s capacity to cope with climate change across the public, private and civil society sectors and to respond to the challenges of transitioning to a climate resilient green economy. Through a flexible grants process, the programme awards funding to organisations that deliver strategic projects that have a clear multiplier effect – for example by removing key obstacles to building climate resilience, or seizing opportunities in the green economy – and supports critical institutions charged with delivering Ethiopia’s Climate Resilient Green Economy Strategy.
Monitoring Norwegian power sector projects in Uganda
KPMG serves as independent financial monitoring agent for a variety of Norwegian-funded power sector programmes in Uganda, interfacing closely with the Ugandan government and their Norwegian partners to strengthen this sector. The scale and reach of the projects we oversee places us in an unrivalled position in this unfolding sector – we are, for example, monitoring the construction of six rural electrification distribution grid projects across Uganda, implemented by the Rural Electrification Agency of the Ministry of Energy and Mineral Development; and the construction of the Nkenda – Hoima transmission line, in one of Norway’s biggest investments in the country to date.
The Renewable Energy and Adaptation to Climate Technologies (REACT) window of the AECF – East Africa
The REACT window represents a dedicated fund to stimulate catalytic change in the clean energy, climate change and financial services markets serving these sectors. Under REACT the AECF has funded 21 companies across East Africa. With plans to award further funding in coming years, the REACT portfolio is expected to comprise an innovative and exciting blend of projects that support the crucial impetus Africa needs to begin investing systemically in green development.
The Climate Change And Environment Fund – Tanzania
The Accountability in Tanzania (AcT) programme’s £ 4.5 million Climate Change and Environment Fund aims to achieve better accountability in relation to climate issues and the environment. It is expected to achieve significant results in terms of the number of people able to cope with the adverse effects of climate change in Tanzania, the number of people with access to quality and user-friendly information on sustainability and better transparency, planning and effective use of finance for addressing climate change in Tanzania.
About David Okwara
Africa, CC&S, challenges, clean energy, climate change, development, East Africa, economic growth, Energy and Natural Resources (ENR), Ethiopia, financial services, green development, investments, KPMG, KPMG Global Centre, Mining, opportunities, REACT, Renewable Energy and Adaptation to Climate Technology, SCIP, Strategic Climate Institutions Programme, sustainability