South Africa needs R1.5 trillion dollars over the next five years to pull off its Just Energy Transition Investment Plan (JET-IP). COP27
The carcass of a Grevy Zebra, the world’s rarest species that only exists in the northern part of Kenya and Ethiopia, amid an ongoing drought in Samburu National Reserve, Samburu county.
Temperatures above 1.5°C have already led to rising sea levels, glaciers melting, torrential downpours, and heatwaves, theThere were some wins, however, notably the establishment of a loss and damage fund, a battle Creecy said was fought for some 30 years.The “modalities” of the fund will be worked on over the next year, with the view to take decisions to COP28.
“Making progress on this is important; the more progress on this, the less loss and damage there is in the long term,” Creecy said. “It does not include any detail as to how the fund will work, nor does it ensure financial resources flow to developing countries to assist them in responding to their climate-related losses and damages.”
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