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South Africa's investment plan focuses on electricity, new energy vehicles, and green hydrogen, but skills development remains a low priority. Concerns arise in coal-reliant communities about future employability as coal plants decommission, with slow progress in reskilling initiatives. The Just Energy Transition Partnerships (JETPs) face challenges, including limited grant funding and delays in project implementation, raising skepticism about their effectiveness and commitment to a people-centered approach.
At COP29 in Baku, countries made progress on carbon market rules under the Paris Agreement, particularly Article 6, but concerns remain over the quality of credits and transparency in emissions trading. The global goal on adaptation faced delays due to financial disagreements and a lack of consensus on implementation indicators. Meanwhile, the Lima Work Programme was renewed for another decade, focusing on gender-responsive climate policies despite pushback on human rights language from some nations.
Rich nations have agreed to a new climate finance goal of at least $300 billion annually by 2035 for developing countries, replacing the previous $100 billion target. Despite criticism from vulnerable nations for its insufficiency, the deal aims to mobilize a total of $1.3 trillion per year from all sources by 2035. The agreement, reached amid contentious negotiations, emphasizes the need for timely funding to address the escalating climate crisis.
Joe Lo Truglio
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Challenges and Progress of Just Energy Transition Partnerships in South Africa
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developing nations express disappointment over new climate finance goal at cop29
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00:40 24.11.2024
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