An announcement has been made on Tuesday that will help fund South Africa’s transition away from coal, in a multilateral effort that could serve as a model for other developing nations to ditch fossil fuel.
The announcement came after the United States joined Britain, France, Germany, and the European Union in a multi-billion-dollar partnership to help South Africa finance a quicker transition from coal, that will provide a model for other countries.
At the ongoing COP26 climate talks in Glasgow, Prime Minister Boris Johnson of the UK said the initial $8.5 billion partnership would help South Africa to decarbonize its coal intensive energy system after the US President Joe Biden stressed that trillions in public and private funding will be needed to help the developing world move away from fossil fuels.
The US President’s announcement also disclosed that by assisting and responding to the needs of developing countries, rather than dictating projects from afar, the developed countries can deliver the greatest impact for those who need it the most.
Climate scientists and some diplomats however said that the South Africa agreement could pave the way for similar deals with other heavily-polluting developing countries — a critical step in containing global warming and avoiding a full-blown climate catastrophe.
Prior to COP26, only a small number of developed nations were paying their fair share on climate financing for poorer countries, according to independent think tank ODI.
And even prior to the deal, South Africa had committed to transitioning to renewables, a political commitment that helped woo the US, UK, and EU.
In a recent press conference in late September, South African President Cyril Ramaphosa told CNN that a just transition is a necessity, calling it a ‘gradual process.”
Ramaphosa also told CNN that “We want those countries from more developed economies who caused so much damage to the environment to live up to the commitments and the promises that they made through the conferences that have been held,” he said.
