South African Presidency Study Urges Doubling of Climate Finance

South Africa needs to more than double climate financing to achieve its emissions reduction targets, according to a study by the Presidential Climate Commission.

Current annual average funding of 131 billion rand ($7 billion) needs to be boosted to 334 billion rand for the country to meet its net zero goal by 2050, the commission said in the The South African Climate Finance Landscape 2023 published on its website. At least 535 billion rand a year is needed for the nation to meet its so-called nationally determined contribution — a commitment made to the United Nations to slash national emissions — by 2030, the commission said.

This article was originally published by a . Read the Original article here. .