Eco Minute 13:30

BULLETIN 27 October 1:30 pm

Good afternoon, here is your Eco Minute:

# President Cyril Ramaphosa says South Africa and Malaysia must stand together in combating climate change, both in mitigating its effects and in pursuing a just and inclusive transition to low-carbon economies. He delivered a public lecture at the University of Malaya earlier today. Malaysia intends to reduce its greenhouse gas emissions intensity of gross domestic product by 45-percent by 2030. Ramaphosa says one of the priorities of South Africa’s G20 presidency is to strengthen disaster resilience and response:

Meanwhile, the Presidential Climate Commission says while South African climate finance flows show a positive upward trend, investment needs to increase at least two- to three-fold to meet its investment needs. Domestic sources contribute close to 60-percent of total climate finance, while international climate finance sources contribute the other 40-percent. The commission says energy dominates climate investment, with a yearly average of 139.5-billion-rand, predominantly into renewable energy electricity generation, and 89-percent of mitigation finance. It adds that providing clear and stable policy signals for climate investment is needed.

# And finally: The European Parliament has adopted its priorities for the United Nations’ Climate Change Conference in Brazil next month. COP30 is set to focus on efforts needed to limit global warming to 1.5 degrees Celsius, and progress on the finance pledges made at COP29. Member of the European Parliament Lídia Pereira says they want countries to contribute their fair share in providing adequate climate finance:

Stay tuned for more news………….