Climate Change Fund to create resilient communities

Government is expected to establish a Climate Change Response

Fund to address the devastating effects of the phenomenon (of climate change) on vulnerable areas in South Africa.

“This will bring together all spheres of government and the private sector in a collaborative effort to build our resilience and respond to the impacts of climate change,” President Cyril Ramaphosa.

President Ramaphosa made the pronouncement while delivering the last State of the Nation Address (SoNA) of the sixth administration before a joint sitting of the National Assembly and National Council of Provinces at the Cape Town City Hall.

He explained that furthermore, through reforms, government is positioning the economy for “future growth in a world shaped by climate change and a revolution in green technologies”.

“In the last three years, our country has seen an increase in extreme weather events, often with disastrous consequences. This is why we are implementing a Just Energy Transition, not only to reduce carbon emissions and fight climate change, but to create growth and jobs for our own people.

Electric vehicle manufacturing

The President highlighted that green hydrogen and electric vehicle manufacturing are receiving particular attention.

“We are going to set up a Special Economic Zone in the Boegoebaai port to drive investment in green energy. There is a great deal of interest from the private sector to participate in the boom that will be generated from green hydrogen energy projects.

“We have decided to support electric vehicle manufacturing in South Africa to grow our automotive sector, which provides good jobs to thousands of workers. We have decided to give special focus to regions like Mpumalanga to enable the creation of new industries, new economic opportunities, and sustainable jobs.

“And in the past year, we have increased the financing pledges for our Just Energy Transition Investment Plan from around R170 billion to almost R240 billion,” he said.