The money, which will support Eskom’s repurposing, is a good example of how developed countries can help
When President Cyril Ramaphosa addressed by video link a special session of COP26 in Glasgow on “Accelerating a just and inclusive energy transition” last week, he emphasised that “a just transition requires finance and support from wealthier nations to enable low- and medium-income countries to protect employment and to promote development”.
The transition process will be based on the full involvement of organised labour and business in targeted programmes to ensure workers, women and young people are the major beneficiaries of our shift to a greener future. We should be careful not to advocate one-size-fits-all approaches to disinvestment from fossil fuels or impose non-tariff barriers or discriminatory taxes that would unfairly harm developing economiesA joint negotiations team will be set up between SA and the international partner countries to discuss an investment plan and financing modalities that will form the basis of a future deal. The negotiations team is expected to complete its work over the next six months.
As our major trading partners transition to low-carbon economies, our goods and services, produced in high-carbon value chains, face an increasing risk of carbon border tariffs and other nontariff trade measures, rendering them less competitive on international markets.
As a signatory to the UN Framework Convention on Climate Change, our country submitted an updated nationally determined contribution ahead of COP26, committing to bring forward the peaking of emissions by a decade and presenting a new and significantly more ambitious mitigation target range.
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