Investment and finance for South Africa to reduce carbon emissions will be the focus of a South African delegation travelling to the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28) in the United Arab Emirates later this week. This is reported by
Pretoria News, a partner of TV BRICS.

The South African delegation is expected to be led by South African President Cyril Ramaphosa.

In addition to consolidating investments under the Just Energy Transition Investment Partnership (JET-IP), the delegation will seek to build momentum on global commitments to support African countries in managing climate risks. These include a fund to support the most vulnerable countries facing climate disasters and a clearer investment framework to invest in adaptation across the continent.

Last year, the World Bank estimated the total investment needed to take South Africa to zero emissions at $500 billion (R9.3 trillion) by 2050.

Busisiwe Mavuso, CEO of an independent association representing South Africa’s largest corporations, said climate change was becoming a critical issue for the global economy.

She added that this is why COP28, which starts this week in Dubai, will be an important event, especially for South Africa.

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