Agri SA welcomes early announcement from Glasgow on climate deal
3 November 2021
Agri SA welcomes the early announcement made by President Cyril Ramaphosa at the COP26 climate negotiations in Glasgow that South Africa has secured a multibillion-dollar deal with developed nations that is essential to curbing its high emissions and reducing its reliance on coal.
The agreement entails a partnership between the European Union, Germany, France, the UK and the US with South Africa whereby South Africa is set to be supported in moving away from its high reliance on coal-generated electricity.
Details of the deal are unclear at this stage, but apparently includes investment to the tune of R131 billion over the next three to five years in the form of grants, concessional loans and investment and risk-sharing instruments (including mobilising private sector funding).
“The implications are clearly that the developed nations are seeking a rapid transition to renewable energy sources and that they see South Africa as a key roleplayer on the African continent,” says Janse Rabie, Agri SA head of Natural Resources.