South Africa Secures $8.5billion to Quit Coal – a Partnership Towards a Just Energy Transition

At the COP26 Summit, South Africa announced that it secured  $8.5 billion in grants and low-interest loans over the next five years. The program, which is funded by the United States, the United Kingdom, France, Germany, and the European Union, aims to achieve the lower bound of South Africa’s Paris Agreement emission targets, which aim to limit global temperature increase to 1.5 degrees celsius above pre-industrial levels.