News: Climate Finance Accelerator South Africa: First Cohort Of Projects Announced
Oct 6, 2021
The Climate Finance Accelerator (CFA) South Africa has announced 13 innovative low-carbon projects that it will support to access finance from investors following a call for proposals that attracted 120 applications. The CFA is part of the UK Government’s efforts to help South Africa tackle climate change and support a just transition.
Projects in the CFA cohort come from a range of sectors including waste management, energy and transport. Some of them will increase sustainable mobility alternatives in cities while reducing emissions, whilst others support the growth of renewable energies in South Africa.
To ensure the selected projects are in the best position to attract investment from South African and international financiers, the projects will receive capacity building support in areas such as low-carbon technologies, blending finance from public and private sources, as well as advice on enhancing gender, equality and social inclusion. If they secure funding, the projects will benefit communities across South Africa through pollution abatement, employment opportunities, access to energy, water conservation, improved food safety, and by supporting gender equality and social inclusion efforts.
The CFA is funded by the UK government’s Department of Business, Energy and Industrial Strategy (BEIS). By bringing together stakeholders who can develop and finance climate projects at scale the CFA will support South Africa’s efforts to meet the priorities set out in its Nationally Determined Contribution under the Paris Agreement.
Download the full news release here.
Listen to the CFA Future Cities Africa podcast interview with Ian Callaghan, John Gibbs and Mike Mulcahy here.