South Africa risks $9.3 billion climate finance pact over delayed coal plant closures 

A panel appointed by South Africa’s environment minister said the country is risking a $9.3 billion climate finance pact by delaying the closing of several coal-fired power plants, Bloomberg reported. 

In 2021, through the Just Energy Transition Partnership (JETP), South Africa received significant pledges from wealthy nations in loans, grants, and guarantees. They offered support to reduce South Africa’s coal dependency on the condition of phasing out older, high-polluting coal plants.