Financing South Africa's Just Transition
South Africa’s Just Transition to net-zero by 2050 could cost at least ~ZAR 6 trillion. This is the scale of funding needed for South Africa ensure alignment with South Africa’s Nationally Determined Contribution under the Paris Climate Agreement. The power sector offers the greatest opportunity and is the top priority for immediate investment, requiring ~70% of net-zero transition investments in the 2020s and contributing ~50% of South Africa’s total annual emissions.
This report focuses on what sources of finance are available to fund the transition, and how climate finance can be unlocked as a critical enabler of South Africa’s transition. In the 2020s, a majority of South Africa’s short-term funding needs are in commercially viable technologies, such as renewable energy, that can be funded from mostly commercial sources. Unlocking the full potential of South Africa’s climate finance market to fund these investments will require action from stakeholders across the economy.
To access our full report on South Africa's Just Transition to net-zero by 2050, please click here