You are currently viewing our desktop site, do you want to download our app instead?
Moneyweb Android App Moneyweb iOS App Moneyweb Mobile Web App

NEW SENS search and JSE share prices

More about the app

South Africa says $750bn a year needed for climate goals

Goal is significantly higher than the $100bn a year that was set for 2020.
Barbara Creecy. Image: Bloomberg

South African Environment Minister Barbara Creecy said countries at the COP26 United Nations climate talks in November should set a target of mobilising $750 billion a year from developed countries to help poorer nations transition to greener energy.

Creecy, who spoke at a Presidential Climate Commission meeting in South Africa on Friday, said she made the suggestion to peers from 50 countries at a meeting in London this month ahead of the summit.

The goal is significantly higher than the $100 billion a year that was set for 2020, but which rich countries have failed to deliver on. In negotiations leading up to COP26, a compromise is emerging to push the date to 2025.

The minister has repeatedly stressed that South Africa needs access to international finance if it’s to reduce a reliance on coal that makes it the world’s 12th-biggest emitter of greenhouse gases.

“Our suggestion is that post-2025, we most move from a floor of $100 billion,” she said. “Taking the needs of developing nations into account, we must move toward a collective goal of mobilising $750 billion a year” from public and private sources, she said.

Creecy said the $100 billion agreed to now must be honoured to create trust.

© 2021 Bloomberg


Sort by:
  • Oldest first
  • Newest first
  • Top voted

You must be signed in to comment.


This is a Greecy problem — There just is no money for this my dear !!!

Yet another begging bowl scenario presented by the ANC for sunny RSA

The developed nations have a plan, it works a lot like how things have always worked..

The country, say France, gives the colony, say DRC $50m with much fanfare. The strings attached require DRC to buy $100m worth of green tech and services from EDF or some other French interest. Smiles all around, especially from EDF and the French politician they bribed.

i have listened and read from countless ceo’s and managements of companies who are very excited about the “go green” idea and how their own eyes just opened now for the world that is effected and how their companies are doing their fair share to contribute towards the climate control idea – what was crystal clear from each speech / articles was how these companies could get involved in the “go green” project to their own company’s advantage – that whilst the ceo is still driving his diesel sucking 4X4 – once again money talks

to the environment minister with an already calculated $750 billion a year necessary to cope with the “climate goals”: if the financing comes as a loan to countries in africa – do you really think africa is capable of paying it back whilst the $100 billion a year that was set for 2020 to lend out by rich countries have failed to deliver – dream on – use eskom as a start off point to see what is the results of pipe dreaming – this whilst developed the 1st world countries launch rockets for pleasure trips in the outer space – the first world countries developed a guilt feeling of what they have done to the environment to date and now want to “save the world” at the cost of the 3rd world countries and indirectly make them even more dependent on them – read through the lines

Dream on. Money should be prioritized in finding a viable alternative to Eskom.

The best solution is to send these climate change terrorists to hell.

So, now that Africa has some of the richest fossil fuel reserves in the world, it is not allowed to exploit them as some ‘pseudo scientists’ are claiming it is bad. Emissions can be clean.

It is still better than cluttering the landscape with those horrible wind generators spitting off small bits of polymer resin into the wind with their leading edges and also huge solar farms.

I would like to see what REAL proper climate specialists have to say about this, not just celebrities and a kid from Sweden.

In my mind, this is just a ploy to prevent development and to keep this continent beholden to the IMF, and to save a multi-billion aid industry with Africa as its largest client.

The next step is to plug Vulcano’s, cows’ rear ends and banning water vapour.

Good luck with that one!!

Perhaps savages burning less shopping centers , trucks and warehouses might be a start ?

Savages and thugs are South African royalty.

The Climate change catastrophy is a myth. In 2018 we had the worst drought in a 100 years in Cape Town and it was attributed to climate change. Currently the dams are 97% full. The age old question is: “who benefits?” from pushing this narrative?

We can’t even keep the lights on because we have an energy crisis in this country. We reduce emissions everytime we do loadshedding. We can’t keep the lights on with cheap, easy coal, and now they’re trying to reduce emissions by using renewables? Get a grip people. This green communism is nothing more than another bait and switch.

Hogwash. here is no Global warming, I mean climate change. Why did they change the name???? Trust the science NOT models used with specific numbers put in to control the models’ outcomes. IT’S ANOTHER TAX PEOPLE.

I bet money you have some mental diabolical. Money that has solemnly sworn to rid you tyrants of all nonsensical archetypes. If I had a taktikal I would sit on it. See to it that most of you jaded heathens are burned at the cross for no more lesions of the mind. I have so far denounced that which has attached itself to purposeful meaning. Your jargon is half-handed and loose to goose. When all is said and done there is easily enough to go around, let alone a life waster of a videogame.

End of comments.





Follow us:

Search Articles:
Click a Company: