Germany is in talks with South Africa over an additional \u20ac720 million ($845 million) in concessional climate financing under the Just Energy Transition Partnership (JETP), according to Rainer Baake, Germany\u2019s special envoy for the programme.<\/p>\n
\n Germany is in talks with South Africa over an additional \u20ac720 million ($845 million) in concessional climate financing under the Just Energy Transition Partnership (JETP), according to Rainer Baake, Germany\u2019s special envoy for the programme.\n <\/p>\n
\n Speaking at a press conference, Baake said the proposed funding would fall under the JETP, a climate-finance agreement between South Africa and a group of some of the world\u2019s wealthiest nations aimed at supporting the country\u2019s transition away from coal.\n <\/p>\n
South Africa\u2019s coal exit<\/p>\n
\n The partnership is designed to accelerate investment in renewable energy, electricity grid infrastructure and climate-resilient development, while managing the social and economic impacts of South Africa\u2019s shift from fossil fuels.\n <\/p>\n
\n If approved, the new loans would raise Germany\u2019s total climate-related support for South Africa under the JETP to \u20ac2.68 billion, up from an initial \u20ac986 million commitment, according to Bloomberg.\n <\/p>\n
\n The discussions build on Germany\u2019s growing financial backing for South Africa\u2019s energy transition. In July, Berlin approved a \u20ac500 million ($582 million) concessional loan to support decarbonisation efforts, following earlier agreements finalised in 2022 and 2023 that brought total KfW-backed concessional financing to \u20ac1.3 billion.\n <\/p>\n
\n Germany\u2019s support forms part of the broader $8.3 billion JETP package launched at COP26, alongside funding from France, the UK, the United States and the European Union.\n <\/p>\n
\n Finance Minister Enoch Godongwana said the financing would strengthen South Africa\u2019s short- and medium-term energy security while advancing long-term decarbonisation. About 80% of the country\u2019s electricity is generated from coal, making it the most carbon-intensive economy in the G20.\n <\/p>\n","protected":false},"excerpt":{"rendered":"Germany is in talks with South Africa over an additional \u20ac720 million ($845 million) in concessional climate financing…\n","protected":false},"author":2,"featured_media":426069,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":{"0":"post-426068","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/426068","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=426068"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/426068\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/426069"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=426068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=426068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=426068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}