President Cyril Ramaphosa has announced that South Africa has signed a political declaration with the governments of France, Germany, the UK and the US, as well as the leadership of the European Union, to establish a partnership to mobilise an initial $8.5-billion, or R131-billion, over the next three to five years through a range of instruments, including grants and concessional finance, to support the implementation of South Africa’s revised Nationally Determined Contributions (NDC) through a just transition to a low-carbon and climate-resilient economy.
The political declaration represents a first-of-its kind partnership to turn these commitments into reality and a model for similar forms of collaboration globally.
In preparation for COP26, South Africa submitted a revised NDC to reduce domestic carbon emissions to within a target range of between 420-million and 350-million tonnes of carbon dioxide equivalent by 2030.
This revised target is compatible with the ambitious goals of the Paris Agreement and represents the country’s best
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