BARBARA CREECY: Long-term financial resources required for Africa’s journey to net zero
As a signatory to the Paris agreement SA remains firmly committed to contributing our best effort towards the global cause of addressing climate change
Significant long-term financial resources, at concessional rates, are needed to introduce new technologies and open up significant new job creation opportunities for SA to join other nations that are benefiting from the green technological transition across the world.
There is already evidence that the market value of equities of firms in some heavily polluting industries is being affected by policy measures and market trends related to a transition to a low-carbon economy. Studies show that the discounted loss in global wealth that could result from stranded assets may range from $1-trillion to $4-trillion, or less than 3% of global managed financial assets...