In a bid to tackle the escalating threat of global warming and climate change, the South African government has announced the establishment of a Climate Change Response Fund. This move, unveiled during the recent State of the Nation Address (SONA) delivered by President Cyril Ramaphosa, aims to mobilize resources from both the public and private sectors to enhance resilience and mitigate the impacts of climate-related events.
President Ramaphosa underscored the urgent need for coordinated action, citing a string of severe climate- and weather-related incidents that have plagued the nation in recent years. From wildfires in the Western Cape to floods in KwaZulu-Natal, and from heatwaves in the Northern Cape to persistent drought in the Eastern Cape, South Africa has faced a barrage of environmental challenges. Despite these trials, the President commended the resilience of South Africans, highlighting the nation’s ability to weather every storm.
The establishment of the Climate Change Response Fund follows the passage of the Climate Change Bill last year and South Africa’s active participation in international climate forums, including COP28 held in the United Arab Emirates in December 2023. In conjunction with these efforts, the government has unveiled plans to open up investment opportunities in electricity transmission infrastructure, a move supported by the Electricity Regulation Amendment Bill tabled last year.
President Ramaphosa emphasized the importance of transitioning to green technologies as part of the country’s strategy to combat climate change. With a substantial increase in financing pledges from R170 billion to R240 billion, the government aims to accelerate the adoption of renewable energy, green hydrogen, and other sustainable practices. This transition, he stressed, is not only crucial for reducing carbon emissions but also for stimulating economic growth and creating job opportunities.
As South Africa harnesses its abundant solar, wind, and mineral resources, the President expressed confidence in the potential for job creation in sectors such as renewable energy, green steel, and electric vehicles. By pursuing a just energy transition at a manageable pace and cost, the government seeks to ensure energy security while positioning the economy for sustainable growth in a world shaped by climate change and green technologies.