Mbumba wants developed nations to boost green hydrogen investment in developing countries

President Nangolo Mbumba wants developed nations to increase investment in developing countries engaged in energy transition initiatives.

“Investment in these key sectors is critical. Namibia is urging developed nations to scale up support for developing countries to facilitate gradual energy transitions,” Mbumba told heads of state at the United Nations General Assembly in New York on Wednesday.

He said Namibia is one of the developing countries making efforts to focus on renewable energy.

“We are establishing green industrialisation ecosystems for decarbonising industries that find it difficult to lower their greenhouse emissions.”
This initiative will combat the impact of climate change, said president Mbumba.

“Namibia is working to develop a sustainable energy mix to support its ambitious industrialisation agenda and to contribute to the world’s efforts to combat climate change,” Mbumba added.

Namibia is looking to secure million-dollar green hydrogen investments, with government authorities negotiating funding options with the European Union (EU) to import approximately 10 million tonnes of hydrogen and ammonia by 2030.

Both the EU and the Japanese government have supported green hydrogen initiatives in the hopes of securing new imports to meet their climate change goals.