SA could lead the way for other big coal users through finance deal

SA is the world’s 13th-biggest emitter of greenhouse gases. Picture: BLOOMBERG/WALDO SWIEGERS.

“We are acutely aware that the eyes of the world are on us,” Daniel Mminele, a former deputy Reserve Bank governor who was appointed to head the talks for SA in February, said in an interview on Tuesday. We would like to see it “at best as a model or benchmark that can be emulated”, he said. “Initial discussions are taking place and as we go along we will be sharing with countries that may be looking at similar programmes,” he said.

While transitioning electricity generation away from coal will be the focus of the deal, money also may be allocated to kick-start green hydrogen and electric vehicle industries in SA, according to Mminele. “I doubt that we could proclaim success if we make it worse and add to what exists,” said Mminele, who has also served as the CEO of Absa. “The debt problems are part and parcel of what the solution is meant to help address. Our partners are well aware of that.”

Source: News Formal (newsformal.com)

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