NEW YORK – South Africa has promised to cap its greenhouse gas emissions by 2025, according to a submission it made on Friday to the United Nations.
South Africa told the UN’s Framework Convention on Climate Change that emissions would reach a peak between 2020 and 2025 and then plateau for the following decade. The government said it would need funding of $3 billion a year over the next decade to step up investments in renewable electricity, as well as $349 billion over the four decades through 2050 to completely decarbonize its power industry.
“South Africa is investing heavily in transforming its energy sector,” its said in the revised submission. “In the short term, up to 2025, South Africa faces significant rigidity in its economy, and any policy-driven transition to a low-carbon and climate-resilient society must take into account and emphasize its overriding priority to address poverty and inequality.”