While referencing in conjunction this development and another initiative proposed during the summit, Secretary-General Ban Ki-moon said "These initiatives will help reduce emissions and contribute to improved health, wealth and opportunity, and a life of dignity for all." (allafrica.com). The Secretary-General hosted the Climate Summit Tuesday in New York which helped mobilize resources and generated actions that will reduce emissions and build resilience to climate change.
At the Summit, 19 ministers from Africa endorsed the Africa Clean Energy Corridor (ACEC). If developed as planned, the initiative will advance the development of renewable energy projects used by the Eastern Africa Power Pool and Southern African Power Pool from its current 12 percent to at least 40 percent by 2030. (allafrica.com).
Four-fifths of all electricity in eastern and southern Africa is from gas, oil or coal. The switch away from carbon-bearing fossil fuels would save 2,500 metric tons of cumulative carbon dioxide emissions. The combined effort will also diversify resource availability, improve energy security and foster investment opportunities and job growth.
A recent press release of the initiative reported that "Cooperation on renewable energy deployment in the region would reduce generation costs by four percent and nearly triple electricity supply, transforming the current energy mix of a large portion of the African continent." (allafrica.com)
The initiative was just one of the highlights of the one-day summit which Ban Ki-Moon called an "unprecedented and important gathering" of more than 120 Heads of States and Government, business, and civil society.