A man wearing a mask walks through smog in Beijing, China. Picture: REUTERS/JASON LEE
With this fund now expected to be backed up by developed country finance, an important, if somewhat contentious, question is on which side of the equation China should fall. While extensive dialogue took place at COP27 and momentous commitments were made, sceptics will point to unfulfilled breakthroughs in previous iterations, most notably the collective promise made in Copenhagen in 2009 to mobilise $100bn per year for climate action in developing countries, a commitment yet to be brought to reality.
Significant African-centric initiatives announced included the establishment of the African Carbon Market Initiative and the Africa Climate Risk Facility; and significant commitments were made to the African Development Bank’s Africa Adaptation Acceleration Programme. Substantial progress was also made by the African Green Hydrogen Alliance, a pioneering body of which SA is a part.
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