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Germany Pledges $317 Million More for S. Africa Climate Pact (1)

June 28, 2022, 9:16 AM

Germany has committed a further 300 million euros ($317 million) to an $8.5 billion climate finance deal offered to South Africa by rich nations to transition away from coal, President Cyril Ramaphosa said.

The initial $8.5 billion was pledged at COP26 talks in Glasgow in November by the UK, US, Germany, France and the European Union to South Africa, which relies on coal for more than 80% of its power generation. The terms are being negotiated by South Africa and partner nations, Ramaphosa said Monday after attending the Group of Seven summit in Germany.

READ: S. Africa’s $8.5 Billion Climate ...