G20: SA set to aim to alter climate change funding

South Africa will use its opportunity as incoming president of the G20 group to ensure SA and Africa get a better deal out of the Just Transition financing for the renewable energy future, says Minister of International Relations and Cooperation Ronald Lamola.

But more importantly, the country would focus on the international debate around the sovereign debt trap and infrastructural development.

These two aspects economists believe stand in the way of its economic growth and progress.

SA’s G20 presidency

South Africa will take over the G20 presidency on 1 December.

The position is presently held by Brazil which concludes its term with the G20 Summit scheduled for 18-19 November in Rio de Janeiro.

President Cyril Ramaphosa announced the theme of SA’s G20 presidency as “Solidarity, Cooperation and Sustainable Development”.

He said: “This will be a significant moment in our young democracy.

“After the World Cup and the collective fight we mounted as a nation against Covid, it will be our biggest national project.

“We plan to prioritise discussion on the Just Energy Transition, financing of development, transforming global financial structures, infrastructure development and other important issues such as artificial intelligence, food security and the debt trap.

“We have to reverse the uneven distribution of resources. It is inconceivable that Africa receives less than 3% of the global climate change financing while being the most affected continent.”

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‘Hope for positive change for Africa’ – Lamola

Lamola said: “We will advocate for more resources to be allocated to Africa for climate change.”

Lamola was a guest at a conference titled Thucydides Trap: Challenges and Opportunities for Africa organised by the Mapungubwe Institute for Strategic Reflection in conjunction with the Indian and Chinese embassies.

Thucydides Trap focuses on relations between the big powers, particularly between China and the US, and the assumption that the two were destined for war.

He said despite the challenges, there is hope for positive change for Africa.

“By insisting on genuine partnerships and aligning programmes, Africa can define its engagement with major global powers,” Lamola said, citing opportunities presented by the African Continental Free Trade Area.

Chinese ambassador to SA Wu Peng told the gathering that suggestions that China and the US were destined for war made by a Thucydides Trap theorist from Harvard University in the US may not be true.

He said Harvard political scientist prof Graham Allison acknowledged during a visit to China this year that the US and China were co-existing peacefully.

Wu said China and the US had more common interests such as promoting global economic recovery.

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