{"id":5560,"date":"2021-11-03T20:07:16","date_gmt":"2021-11-03T20:07:16","guid":{"rendered":"https:\/\/www.africa-press.net\/gambia\/uncategorized\/as-government-leaders-started-leaving-glasgow-the-financiers-stepped-to-the-fore-at-cop26-on-wednesday"},"modified":"2021-11-03T21:06:11","modified_gmt":"2021-11-03T21:06:11","slug":"as-government-leaders-started-leaving-glasgow-the-financiers-stepped-to-the-fore-at-cop26-on-wednesday","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/gambia\/all-news\/as-government-leaders-started-leaving-glasgow-the-financiers-stepped-to-the-fore-at-cop26-on-wednesday","title":{"rendered":"As government leaders started leaving Glasgow, the financiers stepped to the fore at COP26 on Wednesday."},"content":{"rendered":"

Africa-Press – Gambia. <\/strong><\/span>While climate and environmental justice groups, groundwork, Earthlife Africa and the Centre for Environmental Rights, welcomed the announcement of a $8.5billion Just Energy Transition partnership with South Africa, they immediately started asking questions about transparency on the scope and conditions of the partnership, and accountability by lenders, beneficiaries and the South African government.GroundWorks Director Bobby Peek said: \u201cWhile this partnership is a step forward, it is a first step \u2013 South Africa\u2019s need is much greater than the $8.5 billion proposed. To achieve a Just Transition to a zero carbon economy, South Africa needs climate finance that is transformational. For Mpumalanga alone, at least $1bn is needed only for worker support and other direct Just Transition interventions.\u201d<\/p>\n

Questions like \u2018how much of this funding is in fact new funding\u2019 echoed comments being made on social media around governments using net zero plans to paint themselves as climate champions and a new net zero alliance aimed at banking institutions.<\/p>\n

More than 450 financial institutions in 45 countries, some of the world\u2019s biggest banks and pensions funds, committed to limiting greenhouse gas emission by signing up to the Glasgow Financial Alliance for Net Zero. The promise is that by 2050 all of the assets they manage can be counted towards a net-zero emissions campaign. But, as environmental groups were quick to point out, the pledge does not preclude the continued funding of fossil fuels for the foreseeable future.<\/p>\n

For More News And Analysis About Gambia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Gambia. While climate and environmental justice groups, groundwork, Earthlife Africa and the Centre for Environmental Rights, welcomed the announcement of a $8.5billion Just Energy Transition partnership with South Africa, they immediately started asking questions about transparency on the scope and conditions of the partnership, and accountability by lenders, beneficiaries and the South African […]<\/p>\n","protected":false},"author":84,"featured_media":5559,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3,8],"tags":[2355,2361,2557,260,2554],"class_list":["post-5560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","category-homepage-english","tag-africa-press","tag-africa-press-gambia","tag-cop26","tag-gambia","tag-government-leaders"],"yoast_head":"\nAs government leaders started leaving Glasgow, the financiers stepped to the fore at COP26 on Wednesday. - 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