Climate finance and energy transition discussed at CPLP

The 1st CPLP Energy and Climate Seminar took place on July 2, 2024, in Lisbon. The event was promoted by RELOP and ALER, coordinators of the Energy Thematic Commission of the CPLP Consultative Observers, together with the Government of São Tomé and Príncipe, which currently holds the Presidency of the Community of Portuguese Language Countries (CPLP).

The event, which took place in the Auditorium of the CPLP headquarters in Lisbon (Portugal), brought together government members, leaders of energy companies, and financiers to discuss the contribution of climate financing mechanisms to accelerating the energy transition in CPLP member states.

At the seminar’s opening session, Zacarias da Costa, Executive Secretary of the CPLP, highlighted the energy, environment and climate change sectors as priorities in the CPLP’s strategic vision. He also mentioned that the CPLP “has the potential to position itself as a global player in diplomacy for sustainable development” and called for the development of activities by member states that “promote the exchange of knowledge and best examples, fostering inter-community cooperation”.

Esterline Gonçalves Género, Ambassador and Permanent Representative of São Tomé and Príncipe to the CPLP, pointed out that the subject of energy transition towards effective environmental sustainability is becoming increasingly urgent and that individual and collective efforts are needed to find solutions.

Isabel Cancela de Abreu, ALER’s Executive Director, noted that the reality of the energy sector is different in the various CPLP countries and that “they have all been working at different rates on their energy transition strategies, reflecting the challenges and opportunities at the national level”. “This multiplicity of contexts and challenges results in different solutions and approaches, although with common elements that can and should be highlighted and shared,” she added. Climate change is a cross-cutting issue for the Ministries responsible for the Environment, Energy and Finance and for Isabel Cancela de Abreu, “it is essential to articulate these different areas and their respective interlocutors and promote triangular cooperation”.

Mainly focusing on the role of private investment, the 1st CPLP Energy and Climate Seminar aimed to boost cooperation and dialogue between public and private entities in CPLP countries; identify opportunities for climate finance; and discuss the regulatory framework in the energy transition projects.

After an initial reflection on the progress made at COP28 and the road to COP30, the national strategies for the energy transition of São Tomé and Príncipe, Angola, Brazil, Cape Verde, Guinea-Bissau, Mozambique and Portugal were shared. This was followed by a debate on the importance of the regulatory framework for attracting investment and the presentation of financing mechanisms for the energy transition. The final panel focused on private sector strategies and investments in the Portuguese-speaking countries.

“At the 1st CPLP Energy and Climate Seminar we had the opportunity to discuss the importance of a robust and clear regulatory framework for access to finance and attracting private investment, which is essential for the energy transition. Only with a stable and predictable regulatory environment is it possible to attract new investments in renewable energies and clean technologies, creating favorable conditions for private capital to make a significant contribution to energy sustainability and resilience,” said Sandoval Feitosa, President of RELOP.

The event was marked by a high level of international participation, with representatives from various CPLP member states joining different panels.

This event is the first of the CPLP Energy and Climate Seminar Series aimed at encouraging the exchange of experiences and good practices between CPLP countries in the field of energy transition; and to promote the public-private complementarity of financial resources in sustainable energy projects.

The second seminar, scheduled for 10th October, will take place in Praia (Cape Verde), on the sidelines of a high-level event on Climate Finance, organized by the Cape Verdean government, and will focus mainly on strategies for mobilizing climate funds for the energy transition. This will be followed by a third seminar, on 22nd November, as part of the 1st International Seminar on Carbon Credit Regulation, in Rio de Janeiro (Brazil), which will present advances in the regulation of national carbon markets. The fourth and last seminar in this series, to be held in March 2025 in São Tomé and Príncipe, will launch the “Lusophone Energy Transition Roadmap for COP30”, which will compile the energy transition and climate finance strategies of each CPLP country and identify points of cooperation between them.

The CPLP Energy and Climate Seminar Series also has the institutional support of the CPLP, the Ministry of Infrastructure and Natural Resources of São Tomé and Príncipe, the Ministry of Energy and Water of Angola, the Ministry of Mines and Energy of Brazil, the Ministry of Industry, Trade and Energy of Cape Verde, the Ministry of Energy of Guinea-Bissau, the Ministry of Mineral Resources and Energy of Mozambique and the Ministry of Environment and Energy of Portugal.