This is the first significant financing deal to emerge from the landmark climate conference in Glasgow
President Cyril Ramaphosa has announced that SA has secured a commitment of R130bn of highly concessional climate financing from developed countries and the EU to help SA transition away from coal to cleaner forms of energy.
The governments include the UK, the US, France and Germany. The commitment was agreed on in a political declaration finalised at COP26 in Glasgow, and is the first significant financing deal to emerge from the landmark climate conference. COP26 has set the goal of raising $100bn a year for the next five years to assist developing countries with climate change mitigation and adaptation...A subscription gives you full digital access to all Sunday Times content.
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