APA-Pretoria (South Africa) South Africa’s Forestry, Fisheries and Environment Minister Barbara Creecy has said the current world financial system should change to give developing countries, including her country, adequate access to finances to achieve the just energy transition (JET) programme.
Speaking at a High-Level Roundtable on Just Transition at COP28 summit in the United Arab Emirates capital Dubai on Sunday, Creecy said South Africa and other developing countries were unable to secure quality finance to meet their just energy transition goals due to the system.
According to her, developing states were experiencing funding barriers that were hampering the implementation of the just energy transition.
She said the finance flows in support of pathways towards low greenhouse gas emissions and climate-resilient development needed to reflect the commitments and principles of the Convention of Parties, including equity and common but differentiated responsibilities – a principle of international environmental law establishing that all states are responsible in the climate crisis.
The minister said her country’s JET Implementation Plan focused in areas such as investing in electricity infrastructure, new energy vehicles, green hydrogen, skills development, community-based electricity distribution and targeting the most affected communities.
Technology transfer and skills development were also critical in the plan, she added.
“Access to climate change adaptation and mitigation technologies should not be commercially driven but rather seen as a global public good,” Creecy said.
NM/jn/APA