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.

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.

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