South Africa's journey towards decarbonisation via the Just Energy Transition Partnership (JETP) has been described as one of the major achievements of the 2021 United Nations Climate Change Conference, more commonly referred to as COP26. The government announced a major U.S.$8.2 billion deal with the UK, the U.S., Germany, France and the European Union. The climate-finance agreement aims to invest in renewable energy and move away from coal for South Africa over the next three to five years. COP27 wi
this week on the JETP including how its implementation in South Africa may be applied to other nations on the continent and the changing role of the international community in mobilising climate finance.In July 2022, President Cyril Ramaphosa announced a set of actions to respond to South Africa's years-long energy emergency.
As a result, South Africa has started making inroads towards establishing greater investment in renewable energy. The Renewable Energy Independent Power Producer Procurement Programme was created in light of the JET to urgently address the country's energy needs and deficit by adding more megawatts to the grid through renewable energy sources.
"The objectives of JETP align with South Africa's broader economic strategy," Dicks said, adding that sustainable economic growth and development is viewed holistically with tackling climate change, particularly by targeting the goals set in the United Nations Framework Convention on Climate Change .
Dicks also clarified how the JETP partnership funds would be allocated."The way the U.S.$8.5 billion will be dispersed and spent is on the basis that we've agreed to develop an investment plan for sustainable growth, so we're in the process of finalizing an investment plan on the basis of the JETP that could be a blueprint for South Africa.
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