South Africa has set ambitious climate objectives for 2030, including realizing netzero carbon emissions by 2050. A recent report by the Presidential Climate Commission highlights the need for a significant increase in climate financing, with public and private climate investments needing to rise threefold to fivefold from the current average of R131billion. The report also analyzes investments made from 2019 to 2021, with 79% of funding directed towards clean energy, and the remainder toward lowcarbon transportation, water, circular economy, and sustainable agriculture. The recently approved Climate Change Bill and the PCC’s report signal South Africa’s commitment to achieving a sustainable and lowcarbon future.
