South Africa will need over R1 trillion if it is to complete its transition to a green economy in the next 30 years.
The Presidential Climate Commission engaged the financial sector at the Johannesburg Stock Exchange on Tuesday to contextualise the importance of the sector in being central to financing South Africa’s climate change mitigation and adaptation plans.
He says, “Of course the initial US$8.5 billion, this amount will have to be deployed in such a manner that it can crowd in further investments, especially from the private sector and constructing a precise investment pathway for South Africa’s energy transition, it will go a long way towards promoting ongoing investments.”
Executive Director at the PCC Dr Crispian Oliver stresses the importance of securing finance for the grid transition.
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