Three policy priorities to help the region lead the transition to a clean economy.

Carbon pricing should drive African development, not hinder it
Three policy priorities to help the region lead the transition to a clean economy

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    Government leaders often ask me how they can achieve development goals, such as expanding energy access, while tackling climate change. Some say, “Shouldn’t we use our coal resources to give people electricity first, then go low-carbon later?”

The answer is no. A mounting body of evidence shows that development and climate action go hand-in-hand. In fact, research from The New Climate Economy shows that bold action on climate could deliver $26tn in economic benefits globally between now and 2030. With such unequivocal evidence, the question shifts to “how?”

This week, representatives from government, business and civil society are gathering at the Carbon Pricing Leadership Coalition’s High-Level Assembly to discuss how carbon pricing can be used to shift investments towards low-carbon and climate-resilient projects, and how carbon pricing can address broader social concerns.

These issues are salient across the world, in developed and developing countries alike. But developed countries need to set the example, by moving faster and quicker on carbon pricing. That said, African countries can benefit, too. Carbon pricing offers African economies, in particular, a powerful vehicle for delivering on other social and economic priorities. I urge African countries to focus on three priorities, and carbon pricing plays a key role in each of them.

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