- South Africa moves to end coal usage
- Seeks financing partnerships at COP26
- European Commission confirms partnership to help South Africa phase out coal
South African state-owned utility Eskom is seeking at least $30 billion in climate funding to help end coal usage in its power plants. The Chief Executive Officer (CEO) Eskom, Andre de Ruyter, stated that the financing involves multiple lenders with a proposed ‘use it or lost it’ condition.
The European Commission President, Ursula Von der Leyen, confirmed that the United Kingdom (UK), United States (US), Germany and France would sign a partnership agreement at the COP26 event to help South Africa phase out coal in its energy mix.
”This partnership could become a template in how to support the just transition around the global with sponsoring countries and countries that have to move faster in the just transition,” Von der Leyen said.