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Analysis on Low-carbon Policies of Major Sub-Saharan African Counties and Cooperation in Clean Energy Sector economic cooperation, energy industry

Author Sungkyu Lee, Haksik Yoo, and Sooin Kim Series 23-04 Language Korean Date 2023.11.29

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This study analyzed the policies and current challenges in the decarbonization sector, renewable energy sector and the critical minerals sector of Sub- Saharan African(SSA) regions, as well as the market entry status and strategies of major countries. Through such analysis, recommendations were presented at both government and corporate levels for the enhancement of cooperation in the decarbonization, renewable energy and critical minerals sectors among SSA region.

At the government level, it is necessary to share policy implementation experiences and participate in multilateral decarbonization cooperative projects in each sector. At the corporate level, it is crucial to develop and implement cooperative projects that can contribute to fostering the renewable energy industry and job creation in SSA region. Furthermore, considering the elevated investment risks, it would be need to explore joint market entry with foreign companies from countries like Europe, United States, China and others that have extensive experience in market entry. In particular, in the critical minerals sector, it is necessary to expand both concessional and non-concessional support for partner countries, strengthen resource diplomacy, strategically utilize mineral security partnerships, and, in the mid-long term, increase support for credit, guarantees and insurance to facilitate the expansion of investment and market entry.

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