Ina Opperman
Business Journalist
3 minute read
15 Nov 2021
2:48 pm

R130 billion green deal can lead to billions in clean energy

Ina Opperman

The CEO of RMB has proposed how to use the R130 billion green deal for the transition to clean energy.

Picture: iStock

The R130 billion green deal can translate to a R500 billion clean energy shift for South Africa. This concessional climate finance the US, UK, Germany, France and the European Union (EU) promised at COP26 could be a boost for the country’s Just Energy Transition to decarbonise its energy sources. Although the details behind these financial commitments, such as the timing and conditions are not known, James Formby, CEO of Rand Mutual Bank (RMB) says he is optimistic about the potential substantial decarbonisation benefits for South Africa that will move the country closer to globally accepted emission targets. This finance will...