South Africa secured a concessional finance commitment from developed countries through a partnership with the US, UK, France, and Germany from the negotiations held during COP26 held in Glasgow, Scotland. This partnership will enable South Africa to access funding in the next 2-3 years to achieve its nationally determined contribution targets.

South Africa’s $8.5-billion climate finance deal to accelerate the transition away from fossil fuel dependency is a step in the right direction. The announcement of the finance deal, not just pledges, to assist developing countries like South Africa with their low carbon transition is progressive.