JTFM Stakeholder Consultation

Event Details

Date and Time: 08 Aug 2023 09:00am

Category: Stakeholder Engagement, Upcoming Events

As a coal-dependent economy, SA’s ongoing transition to a zero-carbon economy faces substantial social risks. These risks emanate from job losses in the energy and automotive sector transitions and climate conditions that threaten the livelihoods of those working in agriculture and tourism. These sectors not only contribute a substantial proportion of formal and informal employment but in a context of extreme inequality, income poverty and structural unemployment, income from these jobs very often supports a wide range of dependents through remittances to labour-sending areas. In addition, SA is at heightened risk from more warming than the global average which will have starkly different implications across our country – leading to significant risks to communities requiring spending on adaptation and resilience.

South Africa’s Just Transition Framework (JTF) has at its core a focus on quality life for all South Africans. It supports the country’s broader efforts to redesign the economy to enable “deep, just, and transformational shifts” to the benefit of most citizens. However, financing the country’s energy transition requires an enormous amount of funding, recently estimated to be in the region of ZAR4tn-ZAR8.5tn over the next three decades

The PCC is convening a hybrid stakeholder consultation on the Just Transition Financing Mechanism (JTFM). Stakeholders will be presented with the work done thus far, the analysis done by the Project Team, report on the discussions held in a focus group, and present the contents of the draft report.

Stakeholders will be given an opportunity to respond to and comment on the draft paper and the JTF assessment tool. The tagging framework which acts as project selection model will be discussed in greater detail and the Project Team’s views on governance and institutional elements of the JTFM will be discussed.

Please note that registrations for physical participation have CLOSED.

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