The intention is for the COP26 Funding to be provided over a period of three to five years, to be utilised not only for the transition of South Africa away from coal-generated electricity, but also for, among other plans, the development of other infrastructure , social investment and the rejuvenation of the South African manufacturing industry – all aimed at creating jobs where unemployment is the norm, while responding to the global call to take urgent action to combat climate change.
There are also concerns regarding delays in the implementation of the JETP as this would ultimately have the effect of compounding prospective loss and damage costs and may even jeopardise trade relationships with several trading partners. Private entities doing business with greylisted governments and entities based in greylisted countries will also have to deal with these.
Africa is a diverse, divergent and challenging investment destination. However, legitimate investment in the continent carries the potential for significant change that would realise the goal of sustainable finance and impact investment.