South Africa pushes to achieve zero emissions by 2050

Speaking at the Climate Resilience Symposium at the CSIR International Convention Centre in Pretoria, he indicated that the country’s revised Nationally Determined Contribution will balance the country’s developmental needs and economic realities.

 "It takes into account the feasibility of undertaking a climate response through a set of just transition pathways. Importantly, it notes carbon tax as a vital component of our mitigation strategy to lower greenhouse gas emissions,” President Ramaphosa was quoted.

According to him, the carbon tax will encourage companies to cut their carbon footprint and invest in cleaner technologies, generating revenue for climate initiatives.

 These funds will ultimately be channelled into renewable energy projects, energy efficiency programs, and social support mechanisms.

Ramaphosa also highlighted the Renewable Energy Independent Power Producer Procurement Programme, which has successfully attracted over R209 billion ($11.5 billion) in investment, and added much-needed capacity to the electricity grid.

 Other efforts including the Integrated Resource Plan, which details the country’s energy mix, are being updated to support decarbonisation goals. The Just Energy Transition Investment Plan outlines an investment of about $98 billion, focusing on the electricity grid, green hydrogen, electric vehicles, economic diversification, and skills development.

 Ramaphosa said, “We continue to explore opportunities to meet our emissions reduction targets in minerals extraction, green hydrogen production, new power infrastructure, electric vehicle manufacturing, and economic infrastructure upgrades.” He stressed the importance of a just and inclusive transition to a low-carbon economy, ensuring no worker or community is left behind.

 Ramaphosa called on international partners to fulfil their financing commitments, noting that mitigation and adaptation financing remains challenging.

 He acknowledged the establishment of the Green Climate Fund, including the Loss and Damage Fund, but stressed the need for more innovative financing solutions to mobilise private capital and incentivise sustainable practices. “The National Treasury’s Climate Finance Strategy outlines how we can leverage public and private finance to achieve our climate goals,” he said.

 Ramaphosa further announced the upcoming launch of the Just Energy Transition Funding Platform, which will precede a broader Just Transition Financing Mechanism.

“We call on South African businesses to invest in the projects needed for a successful just transition in this country. We need to use blended finance to unlock private sector flows,” he urged.