The Minister of Forestry, Fisheries, and the Environment, Barbara Creecy, says that South Africa, like other developing countries, is experiencing funding barriers that are hampering the implementation of the Just Energy Transition (JET).
Developing countries are unable to secure quality finance to meet their JET goals, Creecy tells the High-Level Roundtable on Just Transition at COP28 in Dubai.
Minister Creecy says the current financial system should change to give developing countries adequate access.
“The finance flows in support of pathways towards low greenhouse gas emissions and climate-resilient development needs to reflect the commitments and principles of the Convention, including equity and CBDR.”
South Africa’s JET Implementation Plan focuses on areas such as investing in electricity infrastructure, new energy vehicles, green hydrogen, skills development, community-based electricity distribution and targeting the most affected communities.
Creecy says technology transfer and skills development are also critical. “Access to climate change adaptation and mitigation technologies should not be commercially driven, but rather seen as a global public good.
Source: eNCA
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