COP26 green finance won't be used for Eskom debt, Gordhan confirms

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Public enterprises minister Pravin Gordhan had to repeatedly tell MPs that the R131bn UN energy deal agreed upon at COP26 two weeks ago will not be used to clear Eskom's debt.

Gordhan explained three times on Wednesday afternoon that the offer had nothing to do with Eskom debt, but was meant to finance SA's efforts for a just transition in support of the global battle against climate change.

“Negotiations will now take place at the technical level to appreciate whether these offers will be compatible with SA's financial requirements and capability,” he said.Early this month, the governments of France, Germany, the United Kingdom and the US, along with the European Union, announced a just energy transition partnership to support SA's decarbonisation efforts.

Another issue which was sharply debated at the Glasgow event was who would finance the transition, said Gordhan.

 

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I hope you will use it to build a natural gas plant connect pipeline from Mozambique to generate Electricity.

Nope that is going straight into their pockets!!!

Carl_CE50 Wonder how much of it will go to ‘comrades’ for ‘irregular expenditure’. Please, do tell, Minister.

No, it's going to get lost in ANC pockets.

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