The damage wrought by weather phenomena such as recurring flash floods in Durban caused by climate change poses a major risk to South Africa’s infrastructure. Picture: Doctor Ngcobo / Independent Newspapers
The South African Government has taken a proactive stance in addressing the escalating threat of climate change with the announcement of the Climate Change Response Fund by President Cyril Ramaphosa.
This fund, as outlined in the President's recent State of the Nation Address, aims to mobilise both public and private finances to enhance climate resilience and safeguard essential infrastructure in the face of increasing extreme weather events.
President Ramaphosa emphasised the urgent need for greater climate resiliency, especially in light of rising deadly extreme weather events and mounting loss and damage to domestic infrastructure.
The fund will play a crucial role in climate-proofing existing essential infrastructure and facilities, including water and food systems, roads, rail and ports, human settlements, and healthcare.
It will also collaborate with various partners to respond to immediate needs in communities affected by climate change-related disasters.
The decision to establish the Climate Change Response Fund follows key developments such as the operationalisation of a Loss and Damage Fund at COP28 and the establishment of a Climate Finance Unit by the African Union Commission.
With wildfires, heatwaves, droughts, and storms wreaking havoc across various regions of South Africa, the need for proactive measures to mitigate risks and protect communities has never been more apparent.
Speaking at a Presidential Climate Commission meeting in February, Forestry, Fisheries and the Environment Minister Barbara Creecy said the Climate Change Response Fund would be a “channel” for financial resources that could be made available to developing countries following the recent operationalisation of a Loss and Damage Fund.
Creecy also explained that while the exact hosting institution for the fund is yet to be decided, the government plans to set aside resources to capitalise the fund and aims to attract private finance to supplement its efforts, mirroring the successful model of the Covid-19 Solidarity Fund.
IOL Environment