SPONSORED | SA needs more than R1.5-trillion to simply begin our energy transition away from fossil fuels — and experts say we’re running out of time to mitigate climate disasters. Where will we get the money?
What does SA need to meet its most ambitious climate action targets and what is standing in our way? Experts weigh inSA’s revised NDC, submitted at COP26, commits the country to achieving net-zero emissions by 2050. File photo. Picture: 123RF/jvdwolf
SA’s revised nationally determined contribution submitted at COP26 committed the country to reduce domestic carbon emissions within a target range of between 350-million tonnes and 420-million tonnes of CO2 equivalent by 2030, and to achieve net-zero emissions by 2050. That would be a reduction of about 20%-33% from current emissions by 2030.
It is not clear yet what this might mean for SA. Brandon Abdinor, a climate advocacy lawyer at the Centre for Environmental Rights, says there is bound to be some controversy over which countries would be eligible to benefit from this mechanism as the focus, for now, seems to be on “particularly vulnerable countries”.
Flash floods around Durban killed more than 400 people, caused R10bn in damage to infrastructure and left tens of thousands homeless. Houses and infrastructure damage during the heavy rains and flooding, at Umdloti, north of Durban. Picture: SANDILE NDLOVU “Even pure climate finance, which has been a topic of interest for decades, is still not well defined, but now we also have to start thinking separately about funds for just transition financing and loss and damage.”
Using SA’s JET-IP as an example, Montmasson-Clair points out that this is predominantly a decarbonisation plan, rather than a just transition plan.
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