There are fears that JET-IP’s proposed funding falls far short of what is needed to support workers and communities affected by the transition away from coal.
South Africa’s daring plan to quit coal while sparking growth and keeping the lights on starred again in the State of the Nation Address (Sona) and the recent budget speeches, promising a solution to end crippling blackouts, while moving to a green economy.
The plan has the potential to spark large-scale investment in South Africa and change the course of development, despite concerns about a funding gap in the plan.
In his 2023 Sona, President Cyril Ramaphosa explained that around R1.5 trillion will be invested over the next five years to kickstart the country’s Just Energy Transition (JET).
This investment is set to develop new frontiers such as renewable energy, green hydrogen, and electric vehicles as part of its Just Energy Transition Investment Plan (JET-IP). The start was a $8.5 billion (about R128 billion) pledge by rich nations at the Glasgow climate conference (COP26) two years ago.
READ THE FULL ARTICLE HERE: https://www.citizen.co.za/news/there-is-hope-for-sas-just-energy-transition-despite-concerns-about-funding-gap/