Editorial | Who will carry the huge cost? South Africa was pledged $8.5 billion (R153 billion) to begin its renewable journey. The cost of change is huge. So, who will fund the transition?
World leaders, environmentalists, activists and NGOs have gathered in the Egyptian city of Sharm el-Sheikh for what is arguably the most important meeting on the planet, the UN Climate Change Conference .
It has provoked a strong reaction from many emerging economies, first because the transition requires a massive capital investment, which many can’t afford. Second, it excludes many from exploiting energy resources the developed world has plundered for centuries to grow their economies.
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