Saudi’s ACWA Power and the Industrial Development Corporation of South Africa (IDC), a government-owned Development Finance Institution, have signed an extensive memorandum of understanding (MoU) exploring a partnership in the development of green hydrogen and its derivatives in South Africa.This partnership coincides with the state visit of the South African President Cyril Ramaphosa to the…
South Africa wants to spend billions of dollars fostering an electric vehicle industry, complicating efforts to finalize an $8.5 billion climate aid package before next month’s United Nations climate summit. The landmark funding plan unveiled at last year’s climate conference in Glasgow was meant to help South Africa wean itself off coal. It was hailed…
Nedbank’s London branch has signed a $350m sustainability-linked syndicated term loan facility, which will be used to refinance outstanding balances on a prior loan. The proceeds of the two-year loan, which comes with the option to extend for an additional year, will be used to refinance the $250m balance outstanding on a $500m syndicated term…
The James Webb Space Telescope has captured a stunning view of the “Pillars of Creation” at the hearts of the Eagle Nebula some 6,500 light years from Earth. Famously imaged by Hubble Space Telescope in 1995 and again in 2014, the pillars as viewed by Webb’s infrared instruments reveal thousands of previously unseen stars and…
Climate finance committed by major multilateral development banks (MDBs) rose in 2021 with over $19 billion committed to climate change adaptation finance, according to the Joint Report on Multilateral Development Banks’ Climate Finance, published on Friday. The report tracks the progress of MDBs in relation to their climate finance targets such as those announced at COP21 and…
South African-based global energy and chemicals company Sasol and steel company ArcelorMittal South Africa (AMCO) have signed a Memorandum of Understanding (MoU) to cooperate on green energy development and the decarbonisation of the manufacturing industry during the African Energy Week in Cape Town. Signed by Priscillah Mabelane, Executive Vice President at Sasol and Aldridge Louis,…
The African Development Bank Group’s Affirmative Finance Action for Women in Africa (AFAWA) initiative is launching its second call for proposals for the Women Entrepreneurship Enablers program, targeting women’s business associations, incubators, accelerators, women-led cooperatives, and civil society organizations that promote the development of women entrepreneurs on the continent. AFAWA is offering grants of up…
The General-Secretary of the United Nations (UN), Mr António Guterres, believes parliaments across the world have an important role to play in the global effort to achieve the Sustainable Development Goals (SDGs) and build a better world. Delivering a video message at the opening of the G20 Parliamentary Speakers’ Summit in Jakarta, Indonesia, yesterday, the…
Zimbabwean president Emmerson Mnangagwa has announced that the new royalties policy that requires mining companies to pay in cash or refined mining products starts this month, October 2022. A royalty is the right to compensation that is based on a portion of the minerals or other products produced at a mine or of the income…
AngloGold Ashanti has released a carbon emissions reduction target that aims to achieve a 30% absolute reduction in its Scope 1 and 2 Greenhouse Gas (GHG) emissions by 2030 through a combination of renewable energy projects, fleet electrification and lower-emission power sources. The company, which has reduced its absolute GHG emissions by more than two…
