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SA still discussing $8.5bn climate fund with rich nations

The US, UK, France, Germany and the EU pledged a total of $8.5bn during COP26 in Glasgow last November to help SA shift away from fossil fuels. Stock photo.
The US, UK, France, Germany and the EU pledged a total of $8.5bn during COP26 in Glasgow last November to help SA shift away from fossil fuels. Stock photo.
Image: 123RF/SEBASTIEN DECORET

SA’s government is still discussing details of a $8.5bn (R137bn) fund offered by Western nations last year to help the country shift away from coal, a senior official said on Tuesday.

The US, UK, France, Germany and the EU pledged the amount during COP26 in Glasgow, Scotland, last November, to help SA — the world’s 12th-biggest emitter of climate-warming gases and a major coal producer and user — shift away from the fossil fuel.

“A joint negotiations team has been established between SA and the partner group of countries to discuss an investment plan and financing modalities as reflected in the political declaration,” Maesela Kekana, SA’s chief negotiator at COP26, told lawmakers during a virtual briefing.

Reuters


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