Business fully supports and welcomes a Just Transition partnership announced by President Cyril Ramaphosa on the 2nd of November 2021 with the governments of France, Germany, the United Kingdom, the United States, and the European Union, to enable a just transition to a low-carbon economy and a climate resilient society in South Africa.
This partnership will be critical in enabling the leveraging of existing partnerships and developing new partnerships, bilaterally, multilaterally and with individual countries and institutions. Business is unequivocally committed to the transition to a low carbon and resilient economy and society for all. This agreement will facilitate the transition to green energy, including enabling private investment to be leveraged through collaboration and partnerships.
SA is fully committed to meeting the ambitious targets set by government, and supported by business, and we will meet these targets with financial and technical assistance from developed countries. We are fully cognizant of the social-economic challenges and context within which we are operating, and thus a Just Transition pathway is critical to achieving our targets, while also managing potential consequences and leveraging of undoubted opportunities. Business and government officials are working together to address any challenges and ensure that the transition is fair and considers the needs of individuals who may be affected.
Business looks forward to engaging with government and partners on ensuring that the partnership with France, Germany, the UK & US, as well as EU, to support a just transition to a low carbon economy and a climate resilient society in SA to enable appropriate public and private sector investment and financing instruments for transitioning to a low carbon and greener economy.
ENDS
Cas Coovadia
Business Unity SA CEO
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For more information, please contact:
Sizwe Maswanganye
Tel: 011 784 8000
Email: sizwe.maswanganye@busa.org.za
