South Africa has the potential to drive inclusive, resilient and sustainable economic growth while addressing the negative impacts of climate change. However, to achieve this, the country will need to revamp its policies and maximize investments to implement a ‘triple transition,’ one that is just, low-carbon and climate-resilient, according to a new report released by the World Bank.
Released this month, the World Bank report states that the country requires R8.5 trillion – from a combination of external, private and public sector financing – between 2022 and 2050 to finance structural reforms – including financial and fiscal terms – and to accelerate the rollout of smart infrastructure across various sectors such as energy, agriculture and transport.
