WASHINGTON—On Thursday, July 21, Local climate Counselor to U.S. Secretary of the Treasury Janet L. Yellen, John Morton, and Treasury staff members concluded a check out to Pretoria, South Africa, in which they fulfilled with South African officials and worldwide partners to go over continued development on the Just Vitality Transition Partnership (JETP).
Initial announced at COP 26, the JETP supports South Africa’s accelerated transition towards a sustainable energy future. Together with worldwide companions from the United Kingdom, France, Germany, and the European Union, the delegation met with public and personal sector stakeholders to go over the JETP, which includes meetings with leaders from the Presidential Weather Finance Undertaking Staff, the Mpumalanga Provincial Governing administration, Eskom, various nationwide labor unions and company associations, and several development finance establishments.
In the course of the meetings, South African leaders and global companions talked about progress realized because the start of the Partnership at COP26, outlined in the the latest launch of the Six-Thirty day period Update on Development in Advancing the JETP, as properly as development in creating the JETP Investment System, which will be supported in section by an initial $8.5 billion in JETP funds to be mobilized. The Financial investment Plan will identify South Africa’s electrical power transition priorities, additional economic progress chances, and prospects to mobilize extra personal sector finance. The delegation also had successful conversations with South African senior officers regarding their operate to allow a wide-primarily based just transition for households and communities afflicted by the changeover absent from coal. Eventually, discussions also focused on critical reforms in the electricity sector that will advance the aims of the JETP even though serving to to advance electricity safety and entry for all.