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R131bn COP26 deal: 'Money to go towards financing larger scale renewable energy'

5 November 2021 7:45 AM
Tags:
Eskom
Climate change
Coal

Presidential Climate Change Coordinating Commission deputy chair Vally Moosa reflects on the renewable deal to shift from coal.

South Africa has struck a R131 billion deal with the US, UK, France, Germany and the EU to accelerate its shift away from coal towards renewables and support coal workers and coal communities.

The deal will see the country transition to a low-carbon economy and climate resilient society.

What does this deal mean?

RELATED: The R131bn COP26 deal: 'Challenge is that SA economy is very carbon-intensive'

Bongani Bingwa chats to Presidential Climate Change Coordinating Commission deputy chair Vally Moosa to give more insight on the deal.

He says South Africa is facing a real challenge on how it will move from where it is currently towards renewable energy.

These rich countries are not doing us a favour, they caused builder up of gases in the atmosphere, so they are fulfilling their obligation. We are not getting this money for free, it is a loan.

Vally Moosa, Deputy chair - Presidential Climate Change Coordinating Commission

The money will go towards financing larger scale renewable energy, he adds.

Listen below to the full conversation:




5 November 2021 7:45 AM
Tags:
Eskom
Climate change
Coal

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