During the weekly presidential media briefing in Pretoria on Sunday , Presidential spokesperson Vincent Magwenya says South Africa will need funding in the form of grants in order to implement the Just Energy Transition.
“At the UN Climate Change Summit last year, France, Germany, the UK, the US and the European Union pledged around R140 billion to support the just transition. An initial amount of R10.7 billion has been received in low-interest loans from Germany and France. “South Africa’s exports need to remain competitive in a global economy where goods from countries with high carbon emissions will soon attract high tariffs. Unless we reduce our emissions, many of the goods we seek to export will find key markets closed to them. Thus, South Africa’s economy will struggle to grow and create jobs.
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South Africa must move with speed to implement its climate planSouth Africa unveiled an initial five-year Just Energy Transition Investment Plan (JET IP) at the UN's COP27 climate conference in Sharm El-Sheikh, Egypt, with a goal of decarbonising the economy in line with Nationally Determined Contributions by 2030.
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