https://newsletter.en.creamermedia.com
Africa|Coal|Energy|Power|Solutions
Africa|Coal|Energy|Power|Solutions
africa|coal|energy|power|solutions

South Africa’s climate finance proposal deserves massive applause

12th November 2021

By: Martin Creamer

Creamer Media Editor

     

Font size: - +

The climate finance that South Africa is seeking to fund our move away from coal-based electricity to sun and wind energy – while also elevating 120 000 power station employees and mineworkers into the new green era – is a model that top global funders are hailing as a potential model solution for all developing countries.

In terms of the model, the very action of going green becomes the interest on the loan received, which means that multilateral public and private funders will receive carbon reduction, and not cash, as interest on the bonds they provide. This sets the stage for South Africa to be able to invest heavily in clean power and accelerate away from coal at the same time. What brilliant thinking. It’s like receiving a 20-year bond on a new house and not having to pay back a cent in interest, provided the house is made progressively cleaner!

Little wonder that it has made headlines in the Washington Post, where the Rockefeller Foundation’s Mike Muldoon describes South Africa’s climate finance model as “one of the only solutions that meets the scale of the challenge”. Besides funding a clean, green and just transition, it also reduces energy costs, lowers load-shedding risk and meets global climate obligations, which the world’s foremost leaders are urging all to do.

To watch Creamer Media's latest video reports, click here
 

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

Comments

Latest News

PPC CEO Matias Cardarelli
PPC moving into Phase 2 of its recovery plan
Updated 5 hours ago By: Schalk Burger
Image of the dewatered Lesotho Highlands water tunnel at the Ash River Outfall in the Free State
LHWP tunnel maintenance on track
18th November 2024 By: Natasha Odendaal

Showroom

Yale Lifting Solutions
Yale Lifting Solutions

Yale Lifting Solutions is a leading supplier of lifting and material handling equipment in Southern Africa. Yale offers a wide range of quality...

VISIT SHOWROOM 
John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 15 November 2024
Magazine round up | 15 November 2024
15th November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:3.68 3.813s - 173pq - 2rq
Subscribe Now