Six months after rich countries pledged $8.5 billion to help South Africa with its clean energy transition, major elements of the financial package are still being developed. | Fin24
by the UK, US and European Union before last year’s COP26 summit to support South Africa’s move away from fossil fuels. The deal has become a model for decarbonising other nations including India, Indonesia and Vietnam. The hope is that agreements can be reached with those countries before COP27, the people said, and that Much of the focus is on Indonesia, which will this year host the Group of 20’s meetings and have significant influence over COP27.
Indonesian ministries contacted by Bloomberg didn’t immediately respond to queries sent ahead of a week-long public holiday. The government last October released a plan to get to Sri Mulyani Indrawati Technical details are now being worked out to determine the contours and scale of financing, with one goal being that it enables the government to escape long-term pressure tied to Eskom’s debt, a US Treasury official said. When the deal was announced last year, South Africa hadn’t designated a lead negotiator and Eskom’s participation was unclear, among the many steps needed to turn the declaration into a final plan, the official said.
US Special Presidential Envoy for Climate John Kerry said work was underway on Indonesia and the South Africa talks were moving forward. “We’ve mobilised some funding to help deal with Eskom — bail out the Eskom problem of South Africa and be able to help them transition,” he said at the Global Electrification Forum hosted by the Edison Electric Institute on April 25. “In Indonesia, they don’t have an Eskom problem, but they do have sort of a break-the-status-quo” challenge, he said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Six of the best small-cap countersSome of the small-cap counters we picked four months ago have repaid our faith in spades.
Read more »
Kaizer Chiefs suspend Dumisani Zuma for second time in six monthsKaizer Chiefs have revealed that attacker Dumisani Zuma has been suspended by the club for the second time in six months pending a disciplinary committee (DC) hearing.
Read more »
Lamola remains non-committal on whether he will contest for ANC's top six position - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.ANC National Executive Committee member, Ronald Lamola has remained non-committal on whether or not he has ambitions to contest for a position among the party’s top six.
Read more »
Former Eskom CEO must face criminals charges for helping Guptas capture Eskom — ZondoThe Zondo Commission of Inquiry has recommended that former acting Eskom CEO Matshela Koko be criminally charged.
Read more »
Rich countries are finalising a deal to move South Africa away from coalAs they prepare for the next round of global climate talks in November, officials from rich countries are trying to pull together a series of multibillion-dollar packages to help poor countries phase out coal.
Read more »