SA’s climate target needs more funding - report
The Director-General of the Department of the Environment says the country's climate ambitions are being derailed by a lack of funding.
The Presidential Climate Commission handed over the State of Climate Action Report to DG Nomfundo Tshabalala in Johannesburg on Thursday.
The report states that R535 billion is needed annually to meet the country's climate change needs.
It adds that the estimated cost to fix the country's underlying climate problems by 2050 is approximately R8.5 trillion.
READ: New report sounds alarm on impact of climate change on SA's water sector
Tshabalala says most of the funding for climate mitigation and resilience efforts has been coming from the private sector.
"SALGA has indicated that one of the gaps that we are confronted with is in terms of financing. What then it calls for is that it needs to be scaled up, especially when it gets to foreign or international funding, and even local funding. We really need to prioritise our grants and concessional finance."
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