COP28: Ramaphosa invites more countries
To back SA's Just Energy Transition
In the past year, South Africa has also received climate finance from Spain, Canada and Switzerland – although they are not part of the Just Energy Transition Partnership.
President Cyril Ramaphosa has invited more countries to support South Africa's Just Energy Transition (JET) and efforts to address climate change impacts on developing economies.The president presented the long-awaited Just Energy Transition Implementation Plan – (JET-IP) to UN Secretary-General António Guterres and some of the Just Energy Transition Partners at this year's COP28 meetings, the Presidency said in a statement. COP28, or the United Nations Climate Change Conference is being held in Dubai, United Arab Emirates, between 30 November to 12 December.
The UK, US, Germany, France and EU pledged an initial $8.5 billion to support South Africa's climate commitments at COP26, two years ago in Glasgow, UK. Since then, Denmark and the Netherlands joined the International Partners Group (IPG), as they are known, bringing the value of the Just Energy Transition Partnership to US$9.3 billion.
In the past year, South Africa has also received climate finance from Spain, Canada and Switzerland – although they are not part of the Just Energy Transition Partnership. In total, the support for the country's transition has grown to US$11.6 billion.
"We are calling for more countries to participate, as our Just Energy Transition Plan requires much more funding, so that we can enable a more effective and positively impactful transition, particularly with respect to communities that are going to be affected as we transit from fossil fuel sources of energy to renewables," Ramaphosa said.
The implementation plan was recently approved by the Cabinet and sets out short and medium-term goals in six specified areas – to ensure that steps to decarbonise the economy also deliver just outcomes for communities that will be affected by the shift away from fossil fuels.
The six areas are electricity, Mpumalanga's just transition, new energy vehicles, green hydrogen, skills development, and capacity of municipalities.
Support
Three more areas will be added for Just Energy Transition financing support from 2024. They are the South African Renewable Energy Masterplan, energy efficiency and road to rail.
The implementation plan builds on the Just Energy Transition Investment Plan – which was released last year. The investment plan shows the country needs R1.5 trillion between 2023 and 2027 to support the decarbonisation of the economy, mainly in three areas: electricity, green hydrogen and new energy vehicles.
Potential funding sources include developed countries, private sector investors, development finance institutions, multilateral development banks, government and philanthropies.
The investment plan was presented to the IPG at COP27, in Sharm el-Sheikh, Egypt, last year. The Presidential Climate Commission (PCC) then held public consultations on the investment plan.
The Presidency, in January 2023, established the JET Project Management Unit, that drove the development of the implementation plan – which gives effect to the PCC's consultations with labour, civil society, youth, business, government and faith-based organisations.
The implementation plan essentially provides more clarity on how the Just Energy Transition Investment Plan will be realised.
The Presidency is scheduled to unpack the implementation plan at South Africa's pavilion at COP28 on Monday.-Fin24