APA-Addis Ababa (Ethiopia) Africa’s private sector can bolster its green agenda and drive increased GDP, higher income per capita, create tens of millions of jobs, and foster collaboration between governments, businesses and local communities, the UN Environment Programme has said.
In its comprehensive report released on Thursday, the UN Environment Programme (UNEP) recommended businesses adopt a holistic approach anchored in profit, people, planet, prosperity, peace, and partnerships.
Launching, the African Environment Outlook, Elizabeth Mrema, UNEP Deputy Executive Director, said: “This report shows that policy makers can create an enabling environment for investments that address the triple planetary crisis, by adopting robust regulatory frameworks, investing in research, innovation and education; promoting public-private partnerships, and foster collaboration across governments, businesses and local communities.”
The report further said transitioning sustainable agriculture, currently contributing about 17 per cent to sub-Saharan Africa’s GDP and embracing organic farming, precision agriculture, and agro forestry are some of the approaches that can enhance productivity while minimizing negative impacts on ecosystems, avoid food insecurity and biodiversity loss.
It said digital technologies in agribusiness offer a $1 trillion market towards feeding the continent’s growing population, estimated to reach 2.5 billion by 2050.
“Combating soil erosion can have net benefits in nutrients, such as nitrogen, phosphorus, and potassium, worth US$62.4 billion annually and restoring nature can unlock a business value of $10 trillion and create 395 million jobs by 2030,” the report noted.
The report indicated that the resilience of the blue economy – projected to generate US$576 billion and 127 million jobs by 2063 – must be sustained facing overfishing, pollution, and climate change, through research, innovation and managing aquatic ecosystems.
It said marine and coastal tourism presents tremendous opportunities for sustainable development in Africa, with potential value-added of over $100 billion by 2030.
The report also said Africa can become a trailblazer in renewable energy solutions, with abundant solar, wind, hydro, biomass, and geothermal resources that may contribute to a 6.4 per cent increase in GDP from 2021 to 2050.
MG/abj/APA