Climate Change Reporting and Energy Transition: Insights at the 5th and 6th Sessions of the AuthorAID Climate Science Journal Club
During the 5th and 6th sessions of the AuthorAID Climate Science Journal Club, researchers discussed critical climate action issues like climate change reporting and energy transition trends in Africa and Asia.
The 5th meeting held on Friday, 24th May, 2024 touched on “Climate Change Reporting by Financial Services Firms in Africa”, which is a working paper co-authored by Nicholas Asare, Stephen Bannah, Mawuena Akosua Cudjoe, and King Carl Tornam Duho. This paper was also presented at the Principles for Responsible Management Education (PRME) Africa Chapter workshop on 23rd May, 2024, at the Ghana Climate MRV Community of Practice meeting and will be presented at the 7th Evidence to Action Conference and Exhibition in Ghana, this July.
He stated that irrespective of the individual firm’s emissions levels, collaborative efforts are necessary to combat climate change. Therefore, all businesses including the financial services must report on how they seek to align with the global goal of minimising GHG emissions.
The 6th meeting was held on Saturday, 15th June 2024, on the topic, “Comparative Analysis of Energy Transition Trends in Asia and Africa”, which was a working paper authored by Stephen Asare Abaknwah.
Climate Change Reporting among Financial Services Firms in Africa
Using a quantitative analysis based on content analysis, Stephen Bannah and his co-authors’ work provide new information on the current state of climate change reporting. His study addressed questions like, the determinants of climate change reporting, and the evidence of convergence.
Convergence for instance uses a statistical approach to assess whether there is a catching-up effect such that companies not previously reporting tend to copy their peers that report. In this vein, the study was based on institutional theory.
The discussant gave an insight that inasmuch as climate change is a science issue, it is also a business issue because businesses are making profit at the expense of the environment, as many of their activities adversely impact the community. And there is no need for countries, firms and individuals to shift responsibility to deal with climate change to others.
He stated that irrespective of the individual firm’s emissions levels, collaborative efforts are necessary to combat climate change. Therefore, all businesses including the financial services must report on how they seek to align with the global goal of minimising GHG emissions.
A participant, Desmond Adomako also commented, noting that “climate change impact should be measured as worth, because we all need a sustainable environment for ourselves and for the future generations."
Energy Transition Trends
With less than a decade to achieve interim net-zero targets worldwide, the progress of developing economies in Asia and Africa lag behind the rest of the world. The current study adopted a novel comparative analysis approach to assess the energy transition dynamics of countries in both regions.
The Institution-Economic-Technology-Behaviour (IETB) framework comprehensively analysed the energy transition in Asia and Africa and identified points of convergence and divergence between the two regions. Major concluding points indicate that while both regions varied in energy endowments, priorities, and national conditions, the energy transition could be sped up by striking a fine balance between marketization and government intervention.
In addition to investing in clean energy projects, Asian economies are playing more participatory roles in the energy transition via investments in R&D, development of clean energy technologies and carving niches in energy-saving and low carbon technologies to generate export revenues. The study proposed several recommendations for practitioners, policy makers and academics.
Margaret Oke, a lecturer at Ajayi Crowther University, Oyo, Nigeria recommended that the conclusions of the study look more like recommendations. Thus, she advises that the author draw conclusions based on his own studies, linked to the research questions he aims to address.
Meeting Recordings
5th Meeting: https://www.youtube.com/watch?v=Ai09ag1GQ78
6th Meeting: https://www.youtube.com/watch?v=HQs8H_VN39w
Next Event
The next event will be held on Friday, July 26th 2024, at 12:00 PM GMT
To register for the 7th Session, please use the link: https://us06web.zoom.us/meeting/register/tZwkf-uorz4sG9x_CVAHe7oviRwKf-CqAScx
Author/Presenter (5th/6th): Stephen Bannah; Stephen Asare Abankwah
Moderators and Editorial team (5th/6th): Barbara Ewurama Wartemberg, Zerubbabel Addy Selby and Rhoda Ladjer Akuaku; Stephen Bannah
Contributing participants (5th/6th): Mr. Desmond Adomako, Dr. Ravichandra Mondreti, Mr. Stephen Asare Abankwah, Mr. Joshua Shepherd; Margaret Oke
IT Support: Wise Delight Duho
To join the club kindly use the link below to join our WhatsApp group: https://chat.whatsapp.com/E1hhLTlM2XV7TGFUxjyEIo
Co-written by: Rhoda Ladjer Akuaku, Zerubbabel Addy Selby, and Barbara Ewurama Wartemberg