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PARIS CLIMATE AGREEMENT
APPL's Commitment to the Paris Agreement
The Paris Agreement - A Global Response to Climate Change
The Paris Agreement stands as a historic beacon in the global effort against climate change. Adopted on 12 December 2015 by 196 Parties at the UN Climate Change Conference (COP21) in Paris, France, this legally binding international treaty made its mark on 4 November 2016. The central aim of the treaty is formidable yet essential: to limit the rise in global average temperature to well below 2°C, with efforts to further limit it to 1.5°C above pre-industrial levels.
A Challenge and Promise for the Energy Sector
The roadmap to achieving net-zero emissions by 2050, as highlighted in the Paris Agreement, presents significant challenges for the global energy sector. Notably, this is an essential target to contain the global temperature rise within 1.5°C. The International Energy Agency’s Annual Report from 2021 paints a transformative picture for the energy future, predicting an extensive shift from fossil fuels to renewable sources, estimating that almost 90% of electricity generation will stem from renewables by 2050.
APPL's Vision within the Nigerian Context
Positioned as potential net Hydrogen (H2) exporters, Nigeria’s stance in the global renewable energy landscape is vital. Bolstered by the Government of Nigeria’s policies, pathways, and action plans, the private sector, including APPL, is incentivized to venture into green hydrogen (GH2) production. APPL aligns its goals with national policies such as the National Energy Policy (2022), the National Energy Master Plan (2022), and Nigeria’s Energy Transition Plan (2022). These frameworks are not merely policies but blueprints that guide our nation and APPL in our transition to a greener future. For instance, the ETP envisions hydrogen’s integration into Nigeria’s energy transition, predicting that by 2040, H2 will account for 46 TWh of the estimated 450 TWh growth in centralized electricity demand.
In Conclusion
As the world strives to honor the Paris Agreement’s spirit, APPL takes pride in being a catalyst for change in Nigeria’s energy sector. Our partnerships, initiatives, and unwavering commitment to a sustainable future position us as a frontrunner in the pursuit of a greener tomorrow.
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