US official says South Africa aid aimed at coal plants not EVs

A group of the world’s richest nations that pledged $8.5-billion in climate finance to South Africa wants the money to be used to retire coal-fired power plants, according to a senior US official involved in the talks, damping suggestions some could be channelled to producing electric vehicles and green hydrogen. The funds pledged by the US, UK, France, Germany and the European Union and announced at the COP26 climate summit in Glasgow in November, can also be utilized to construct renewable energy facilities, the official said, asking not to be identified as the talks are private.