South Africa Secures $2.4 Billion for Climate Transition

National Treasury anticipates significant funding this year from international climate pact to shift away from coal dependency.

The Just Energy Transition Partnership has pledged a total of $9.3 billion to South Africa.
Procedural setbacks and internal disputes have delayed the implementation of the pact.
A central body is recommended to guide investment and raise additional funds for the energy transition.
South Africa relies on coal for 80% of its electricity, making it one of the most carbon-intensive economies.
The new funding aims to support renewable energy projects and provide alternative livelihoods for coal-dependent communities.