Written by organizers of AGES
It has become a tradition during the last session of Africa’s Green Economy Summit, for John Roome, former World Bank sustainability guru, to reflect on the key takeaways and inspiring insights of the event. And on Thursday afternoon, he did not shy away from sharing some good news, concerns and advice.
“The good news is you have a lot of good ideas. The bad news is you have a lot of good ideas and had a lot to say,” said Roome.
There is agreement that the blue and green economies present opportunities and that finance is key. And this was also a concern, as he believes that there was perhaps too much agreement in many of the discussions. “Can we not be using this time to drill down more on the tough issues?”
“Great optimism, but let’s not kid ourselves,” he continued, “there are also global and international headwinds. I’ve just come from Washington: we’ve got climate denial in the US and pushback on diversity and equity inclusion in some other countries, which is critical to deliver on this agenda. It is not just a Trump issue, but this has implications for what we do.”
Additionally, he warned about macroeconomic realities and pressures on governments around the world who face great political challenges and competition for resources. However, he urged attendees to stay the course: “We need to keep our commitment going forward, almost have a pathological optimism going forward and double down on quality.”
Earlier during the Thursday morning keynote session, Sanlam Investments CEO Carl Roothman reminded attendees that the current economic climate, which sees so many governments and businesses focus on climate change and green finance, presents a once-in-a-lifetime opportunity for Africa.
“I don’t think you will see in another 150 years the opportunity for access to the global capital and enthusiasm from the rest of the world, to invest in Africa” said Roothman. This enthusiasm, though, does create a responsibility for everyone in South Africa, he admonished.