South Africa’s coal-reduction ambitions have received a major lift, with the Climate Investment Funds (CIF) approving the country’s plan to accelerate its energy transition. After a delay tied to energy shortages and global politics, including US hesitations, the plan now unlocks $500 million from the CIF and paves the way for an additional $2.1 billion from partners like the World Bank and African Development Bank. The funding will help South Africa—where coal still fuels 80% of electricity—shift to cleaner energy sources. While strained US-South Africa relations had previously threatened the deal, the approval now revives hope for frontloading key projects that could reshape the nation’s carbon-intensive economy.
Bloomberg
