PRESIDENT Cyril Ramaphosa says the initial $8.5-billion to be mobilised over the next three to five years in support of South Africa’s just transition to a low-carbon economy, will facilitate the implementation of the country’s ambitious emission-reduction goals and develop a model for a just transition that could be used elsewhere.
In a message to the COP26 Energy session held on November 4, Ramaphosa reiterated that South Africa required support to achieve its Nationally Determined Contribution targets, which would involve South Africa transforming its coal-dependent energy system at “unprecedented speed and scale”.
“This will include the decommissioning, the repowering and the repurposing of coal-fired power stations and the roll-out of renewable energy.
“But our ability to do so will be determined by the extent of support that we receive from developed economies,” he said.
The political declaration announced with the governments of France, Germany, the UK, the US and the European Union, represented “an important breakthrough in this effort”.
“This will enable us to implement our ambitious goals and to develop a model for a just transition that we hope can be used elsewhere.”
Ramaphosa noted that the energy transition would require developing economies to undertake massive investments in alternative energy sources and other infrastructure.
In addition, some countries, such as South Africa, would require substantial support for workers and communities throughout the coal value chain who stood to lose their jobs and livelihoods.
“A just transition requires finance and support from wealthier nations to enable low- and medium-income countries to protect employment and to promote development.”
