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At COP29, Namibia is actively seeking oil and gas investments, promoting its potential to double GDP by 2040 through exploration in four basins and partnerships with companies like BW Energy. However, experts caution that reliance on fossil fuels may lead to economic pitfalls similar to those faced by Nigeria and Angola, risking environmental degradation and stranded assets as the world shifts towards clean energy.
The coalition against fossil fuel subsidies has expanded to include the UK, Colombia, and New Zealand, joining 13 European nations. Despite the goal to phase out subsidies, only four members have published their inventories, with many facing challenges in transparency and public pushback. The coalition aims to develop national phase-out plans by COP30 next year.
Vance Culbert
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Namibia seeks oil and gas investments amid global decarbonization efforts
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17:33 22.11.2024
coalition against fossil fuel subsidies grows but falls short on targets
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16:02 19.11.2024
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