more than US$1-trillion of assets under management are in South Africa to look for investment opportunities.
South Africa, the world’s 13th largest source of greenhouse gases, will need to spend more than R4-trillion over the next three decades to fund the closing down of coal-fired plants and development of replacement green energy such as wind and solar, according to a report released in May. The world’s richest nations at Cop26 in Glasgow in November pledged just US$8.5-billion in climate grants and concessional loans to the nation.
“There’s not enough public resources in donor budgets and in local budgets, for example, in South Africa to solve the climate crisis,” Cameron Khosrowshahi, senior investment adviser for Prosper Africa, said in an interview on Thursday. “There’s going to need to be a scaling up of private capital alongside public capital in order to meet the challenge. And that’s part of the reason why we’re here.
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