COP27 sign is seen at the Green Zone at the UN climate summit in Red Sea resort of Sharm el-Sheikh, Egypt, November 17, 2022. REUTERS/Emilie MadiCOP27 sign is seen at the Green Zone at the UN climate summit in Red Sea resort of Sharm el-Sheikh, Egypt, November 17, 2022. REUTERS/Emilie Madi
Developing countries are determined that industrialised nations must foot the bill to fix a problem they are in large part responsible for. There was a lot of discussion about loss and damage, and who pays for the catastrophic consequences of climate disasters, which are exacerbated by the rise in global warming. Developing countries made a united plea for countries to, at the very least, honour the promises they have already made.
Much of the focus is on South Africa’s major problem. Our power is coal-based, and unless that changes we won’t meet our targets for lowering our greenhouse gas emissions. That issue is obviously compounded by the fact that it is also a system that is not functioning very well at the moment. But these issues and debates have been well ventilated and will continue to be so.
Green hydrogen also plays a large role in the idea of a just transition from fossil fuels. It’s a new industry in South Africa, so any developments in the sector will add to GDP and most importantly create new jobs.The World Bank estimates that the demand for hydrogen will increase by close to 10% a year until 2030.
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