Unless developed nations cut greenhouse gas emissions as a matter of urgency, vulnerable, developing nations will continue to bare the brunt of climate change.
This forms part of South Africa’s Just Energy Transition Investment Plan (JET-IP) for 2023 to 2027, a detailed map of how the country plans to keep its emissions slate clean, transition from coal to cleaner energy solutions, and attempt to balance livelihoods dependent on the fossil fuel industry.
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Developed nations are historically responsible for greenhouse gas emissions, with Africa contributing just 4% of global emissions. South Africa is responsible for 2% of this figure.
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Cash needed for JET-IP
According to the JET-IP South Africa’s low-carbon, climate-resistent economy comes at a cost of R1.5 trillion over the next five years.
Key to the JET-IP is restructuring Eskom’s R396 billion debt, to allow for more reliable electricity supply, reducing costs and optimising revenue.