The Presidential Climate Commission (PCC) has welcomed the announcement of the establishment of the Climate Response Fund, as announced by President Cyril Ramaphosa during the 2024 State of the Nation Address (SONA).

The fund is aimed at addressing the devastating effects of climate change on the environment, infrastructure and lives.

PCC Deputy Chairperson Valli Moosa said the commission will provide oversight for the fund, which it believes should be administered independently.

‘As a commission, in light of our previous calls for increased domestic and international funding for climate action, we commit to actively support the conceptualisation of the fund mechanism, its funding sources and how it can carry out its functions efficiently,’ Moosa said on Monday.

Climate Change Bill

The PCC said the Climate Change Bill – which has already been approved by the National Assembly and is currently in the National Council of Provinces for consideration – will pave the way for a ‘new era in implementing an effe
ctive climate change response’ for South Africa.

READ | SA welcomes COP28 agreement global adaptation efforts on climate change

‘[It will] support a just transition to a climate-resilient, equitable and internationally competitive low-carbon economy and society, which considers the risks and opportunities expected to arise in implementing the national climate change response.

‘The commission calls upon all social partners and stakeholders to actively participate in the envisaged public hearings on the Bill by the NCOP, and reaffirms its support to the House processes in reaching out to South Africans during the public hearings and consultations,’ the PCC said in a statement.

COP28

The commission also weighed in on the Global Stocktake decision adopted at the 28th United Nations Conference of Parties (COP28) held in Dubai late last year.

‘The commission welcomed the Global Stocktake decision, framed as the ‘UAE consensus’, which called for an ‘all of economy,’ ‘all of society’ approach to tackling climat
e change, and achieving a just transition through a transformative development pathway, which includes tripling renewable energy, doubling energy efficiency, accelerating sustainable transport, transforming the food system, and protecting forests and nature.

‘The agreement to establish a fund for Loss and Damage was an early win this COP, with financial commitments of approximately $700 million pledged. While this is an important initial contribution, it falls far short of what is needed by developing countries and the outstanding issues how such as how it will be funded moving forward.

“COP28 adopted a Just Transition work programme, with a broad interpretation of a just transition i.e., the just transition demands an all of economy and all of society response,” the PCC said.

Source: South African Government News Agency