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South Africa Proposes Green Financing Facility to Developed Nations

SOUTH AFRICA
  • South African officials met Tuesday with envoys from the U.S., U.K., Germany, France and the European Union ahead of COP26 climate talks over the nation's energy transition from coal
  • South Africa is proposing the establishment of a Just Transition Financing Facility, which will support the Just Transition process across sectors of the economy
  • Moving to cleaner sources of energy requires substantially concessional and grant funding, and technical assistance that takes into account current fiscal constraints and supports government's quest to promote long term financial sustainability
  • Envoys agreed to report back on issues related to financial support raised in the meeting
  • A technical task team made up of expert officials will continue discussions with the aim of reaching an enabling framework agreement by COP 26
  • Background: https://www.news24.com/fin24/economy/green-energy-...

MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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