- Speaking at the COP27 summit, the president of South Africa, Cyril Ramaphosa, alleged that the international funders are making it difficult for poorer nations to access aid to fight climate change
Speaking at the COP27 summit, the president of South Africa, Cyril Ramaphosa, alleged that the international funders are making it difficult for poorer nations to access aid to fight climate change.
According to an UN-backed report released on November 8,th developing countries and emerging economies need investments well beyond $2 trillion annually by 2030. To deal with the challenge, Ramaphosa, urged for a clear roadmap to deliver on the Glasgow decision to double adaptation financing by 2025.
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He added that South Africa was increasing investment in renewable energy and has also started the process of retiring a number of aging coal-fired power stations. To fund this transformation, the country needed close to $90 trillion, he said.
