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Business Matters: Rich nations agree to fund South Africa's transition from coal

The COP continues

03/11/2021 GMT

Rich nations agree to fund South Africa's transition from coal

BBC World Service - Business Matters, Rich nations agree to fund South Africa's transition from coal

A partnership of nations give $8.5bn to South Africa to help invest in greener energy

A partnership of developed nations agree to give $8.5bn to South Africa - one of the heaviest users of coal - to help it invest in greener energy technology.

A partnership of developed nations and economies has agreed to give South Africa $8.5bn to help the country transition away from coal-powered energy. Our reporter Vumani Mkhize visits a village on the brink of a coal mine to assess the damage to the country and its people’s health caused by coal mining, and we speak to Mafalda Duarte of Climate Investment Funds, one of the organisations responsible for helping countries swap their coal energy capacity for renewables. Elsewhere at COP26, over 100 world leaders have pledged to end major deforestation – we hear from Elodie Toto in the Democratic Republic of Congo. Taxi drivers in New York are staging a hunger strike over unpayable debts attached to their operating licences – Augustine Tang is one of them and he speaks to us on the day New Yorkers go to the polls to elect a new mayor. And the battle of the billionaire philanthropists trudges on – Elon Musk has offered to pay the $6bn the World Food Programme says would help people facing famine around the world – but only if he can see the spending plan beforehand. 

Throughout the programme we’re joined by Diane Brady, Assistant Managing Editor of Forbes in New York and David Kuo, co-founder of The Smart Investor in Singapore.

Photo: US Climate Envoy John Kerry in Glasgow Credit: Reuters

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