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LEANNE GOVINDSAMY: Global finance rules must change to support just transitions around the world

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The financing on offer to support SA’s energy transition risk the country becoming crushingly over-indebted

President Cyril Ramaphosa and his team in Sharm el Sheikh, Egypt, for COP27 will be focused on what are likely to be tough negotiations with their partners in the Global North. After the announcement of the details of the Just Energy Transition Investment Plan last week, it is clear that SA has a long and costly road to travel to reach its climate goals and commitments.

since their COP26 declaration, and together with some multilateral development banks have made various financial offers. Developed countries should contribute to climate reparations, particularly in relation to small island nations and developing countries and to creating new and innovative finance mechanisms to support just transitions the world over.

 

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