Rudi Dicks, head of project management in the presidency, told Reuters on Thursday that South Africa had been pushing for more of the $12 billion currently on offer from Western nations to take the form of gifts rather than loans."The president has made it very clear that he wants to see an increase in the grant component," he said, adding that more grants could come in as the country heads to COP28 climate talks in Dubai next month.
But South African authorities estimate the total cost of South Africa's transition from carbon-intensive coal -- which generates 80% of its power and is used to synthesize a third of its liquid fuel -- at Dicks added that South Africa was in negotiations to possibly increase both the total package and the share taken up by grants at the talks, in which South Africa will present details on how it plans to spend the money.to develop skills in sectors like solar generation, electric vehicles and green hydrogen, assist coal miners losing their jobs and attract the private sector to invest in what it says are lower return projects.
It aims to retire coal plants, ramp up renewable capacity and establish a green hydrogen export hub, among other things. "The implementation plan will go for cabinet's approval by end October and will be presented at COP28," Dicks said.Hurricane Norma strengthened into a Category 3 hurricane early on Thursday as it neared peak strength in the Pacific, off the coast of popular tourist resorts on Mexico's Baja California peninsula.