Browsing: President Joe Biden speaks at AU summit

The goal of JETP is to help South Africa decarbonise and switch to renewable energy for its power needs as aligned in the country’s Nationally Determined Contribution emissions goals.

Through the program, South Africa will mobilise an initial commitment of $8.5 billion for the first phase of financing, which has now been secured and whose distribution plan will be announced next month in Egypt at the COP27.

“The Partnership is expected to prevent up to 1-1.5 gigatonnes of emissions over the next 20 years and support South Africa to move away from coal and to accelerate its transition to a low emission, climate resilient economy,”  reports the European Commission.