President Cyril Ramaphosa joined other leaders at the United Nations (UN) Climate Change Conference in Glasgow yesterday (November 2) in announcing a historic partnership with the governments of France, Germany, the United Kingdom and the United States, as well as the European Union, to support a just transition to a low carbon economy and a climate-resilient society in South Africa.

In preparation for the United COP26 – held from October 31 to November 12 – South Africa submitted a revised Nationally Determined Contribution (NDC) to reduce domestic carbon emissions to within a target range for emissions of between 420 CO2-eq and 350 CO2-eq by 2030.

“This revised target is compatible with the ambitious goals of the Paris Agreement and represents our country’s best effort to confront climate change, which will have a devastating impact on sub-Saharan Africa without large-scale mitigation and adaptation efforts,” said a spokesperson from the Presidency.

Through the Political Declaration – issued yesterday to establish this partnership –

partner countries will mobilise an initial US$8.5 billion in funding over the next three to five years to support the implementation of South Africa’s revised NDC through a just transition to a low-carbon and climate-resilient economy.

This will be achieved through a range of instruments, including grants and concessional finance, which will accelerate investment in renewable energy and the development of new sectors such as electric vehicles and green hydrogen.

Significant boost to investment

This will provide a significant boost to investment and growth while ensuring Eskom can access resources to finance repurposing of coal-fired power stations due for decommissioning over the next 15 years.

“Climate change is an existential challenge that confronts us all, and South Africa is committed to playing its part in reducing global emissions. The partnership that we have established today is a watershed moment, not only for our own just transition, but for the world as a whole. It is proof that we can take ambitious climate action while increasing our energy security, creating jobs and harnessing new opportunities for investment, with support from developed economies,” said Ramaphosa.

He noted that the partnership included support for workers and communities affected by the transition from coal, and enabled the creation of quality green jobs.

“For the transition to be just, decarbonisation must be implemented in a manner that promotes and sustains employment, livelihoods and economic inclusion for historically marginalised communities and sectors of our society,” said Ramaphosa.

A joint taskforce will be established to take forward the partnership over the coming months.

Editor’s note:  A ‘just transition’ seeks to ensure that the benefits of a green economy transition are shared widely, while also supporting those who stand to lose economically – be they countries, regions, industries, communities, workers or consumers.