Investment Plan for the five years 2023 to 2027 will need $98 billion , if South Africa is to achieve its decarbonisation commitments by 2050, president
The Just Energy Transition Implementation Plan, which was approved by the cabinet last year, will guide South Africa’s transition to a low-carbon economy through the scaling up of renewable energy sources and reducing reliance on coal. “Disruptions caused by climate change increase the costs of doing business, undermine competitiveness and also dampen prospects for increased employment. They result in lower tax revenue and increased expenditure on disaster relief,” Ramaphosa said.
“Climate finance is also crucial for our transition. We need substantial investments to build sustainable infrastructure, to develop green technologies and support social programmes,” Ramaphosa said. to the African Development Bank, just transition finance is different from climate finance.