Climate Home News has reported that less than 3% of the developed countries promised under the South African Just Energy Transition Partnership are earmarked as grants, with the rest spilt between concessional and commercial loans. The plan has not been formally published yet and will be announced at COP27 this month. The high level of non-grant finance has raised concerns that South Africa, which already has a high debt burden, cannot shoulder any additional debt. The example will also likely leave the JETP package as less attractive to developing countries in the process of transitioning away from coal.
