R130bn climate deal can be leveraged for R500bn clean energy shift, says RMB

The R130-billion concessional climate finance green deal South Africa signed at COP26 could translate into a R500-billion boost to help South Africa’s just energy transition to decarbonise its sources of energy, says financial services firm RMB CEO James Formby. “We are yet to see the details behind these financial commitments such as the timing and conditions, but overall we are optimistic about the potential substantial decarbonisation benefits for South Africa that will move us closer to globally accepted emission targets.”