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S.Africa will only accept $8.5 bln green energy deal on good terms, president says
(Reuters, 25 Nov 2021) World's 12th biggest emitter of climate-warming gases will only take funding pledged by rich nations to help it shift from coal to green energy if it helps reduce debt and create jobs.
South Africa will only accept $8.5 billion in initial funding pledged by rich nations to help it shift from coal to greener energy if the terms suit national goals like debt reduction and job creation, President Cyril Ramaphosa said on Thursday.
Earlier this month, the United States joined Britain, France, Germany and the European Union to offer a multi-billion dollar package nL1N2RT18P to help South Africa accelerate a transition from coal.
South Africa, which is the world's 12th biggest emitter of climate-warming gases and heavily reliant on ageing coal-fired power stations for its electricity, said the money would help it deliver on a more ambitious pledge to reduce emissions by 2030.
"This commitment from international partners does not mean we need to accept the offer, as such, or that we need to accept any unfavourable terms especially if the financing arrangements could impact negatively on the public fiscus of our country," Ramaphosa told lawmakers when responding to questions.
Reuters, 25 Nov 2021: S.Africa will only accept $8.5 bln green energy deal on good terms, president says
