SA Leads G20 Charge on Climate Finance, Urges Global Action

(The Post News)- Climate finance has taken center stage as South Africa leads the G20 Presidency efforts. President Cyril Ramaphosa stated that South Africa’s G20 presidency will prioritize efforts to help developing countries finance their shift to a low-carbon economy. This commitment comes despite the United States’ significant reduction in support.

President Ramaphosa emphasized that the world is not addressing global challenges, including climate change, quickly enough to prevent catastrophes. He stressed the need for significantly more funding to combat climate change equitably at the G20 meeting.

South Africa, the first country to agree to a Just Energy Transition Partnership (JETP) deal, aims to shift away from burning coal for energy. However, the country has struggled to secure the necessary funding. With the increasing frequency and severity of droughts, floods, and other extreme weather events in KwaZulu-Natal, Ramaphosa has called for more funding to support the least-polluting countries.

“We are not winning the war against climate change,” Ramaphosa warned, stressing the need for urgent global action. Despite domestic challenges, South Africa will contribute to global climate change efforts.

Ramaphosa also announced that South Africa will push for an agreement to harness critical minerals essential for the world’s energy transition. This effort aims to support economic growth and decarbonization. Africa possesses about 30% of the world’s critical minerals reserves but attracts only 3% of global energy investments annually.

The G20 summit, where members represent 80% of global GDP and 75% of global exports, is crucial for cooperation. Ramaphosa’s plea for increased funding comes as the world grapples with devastating climate change impacts. The Paris Agreement commits developed nations to mobilizing $100 billion per year in climate finance for developing countries annually, but this target has yet to be met.

Ramaphosa’s plea highlights the need for global cooperation to address the climate crisis and support vulnerable nations collectively. World leaders acknowledge that climate change requires a collective response and urgent solution implementation. The G20 meeting served as a platform for world leaders to discuss solutions and commit to collective action globally.

With time running out, the international community must work together to address the climate crisis and support mitigation efforts. The world must prioritize climate change funding and mitigation efforts to avoid catastrophic consequences and impacts globally.

About the Author

Natalie Semono

Editor

I am Natalie Semono and I am an environmental reporter with a Journalism Studies qualification from Rosebank College. I am passionate about telling impactful stories on climate change, conservation, and environmental justice. With a clear, engaging style, I translate complex issues into narratives that inform and inspire. My reporting aims to amplify underrepresented voices and connect communities with the urgent environmental challenges shaping our world.

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