South Africa's $8.5 bn plan to exit coal offers template for green shift

South Africa and its investment partners launched an $8.5 billion plan to shift from coal toward green energy at the COP27 climate summit, in a potentially landmark deal for the transition away from fossil fuels.
 

The Just Energy Transition Plan -- backed by the UK, US, France, Germany and the European Union -- is seen as a blueprint for other coal-dependent developing nations to cut greenhouse gas emissions. The plan for South Africa envisages 90% of the funds being used to decommission coal-fired power plants in tandem with developing renewable energy generation and strengthening grid infrastructure. 

It marks a breakthrough