Rich nations must compensate developing nations for ‘harm done’ to the climate, Ramaphosa tells UK MPs

President Cyril Ramaphosa has told the joint sitting of parliament at the Palace of Westminster in London that not only does South Africa want the United Kingdom to financially support its just energy transition plan, it also wants the assistance to take place the “form of grants and highly concessional loans”.

“We greatly appreciate the commitment of the United Kingdom to the implementation of a just energy transition in South Africa. It demonstrates a clear recognition by the UK government of the importance of supporting transitions to low-carbon economies in a manner that does not disadvantage affected workers, communities or industries.

“We have called on the United Kingdom and the other partners to ensure that a substantial part of the funding takes the form of grants and highly concessional loans,” Ramaphosa said on Tuesday afternoon.

The president, who is on a two-day state visit at the invitation of King Charles III, said the world was facing an “existential threat” of a planet that is warming at a rate far faster than can sustainably be endured.

He said South Africa’s membership of the Commonwealth provides the country with a body that can play an important role in crafting relevant and innovative responses.

The need to tackle inequality in the response to climate change was more important than ever.

“Those countries that carry the least responsibility for global warming are most vulnerable to its effects. They do not have the resources needed to adapt to drought, floods and rising sea levels.

“As they seek to grow, industrialise and diversify their economies, their energy needs will increase and the space they have to reduce emissions will narrow.”

Ramaphosa said this placed the responsibility on industrialised nations to contribute substantial resources to low and middle-income countries to fund their climate actions.

“This is not charity,” he said, adding “it is compensation for the harm done, and the harm yet to be done, to people in developing economies as a consequence of the industrialisation of wealthy countries”.

Ramaphosa said because a global reduction in emissions benefits all countries and all people it is a necessary investment in the future of humanity.

He said he was pleased  the final outcomes of COP27 hold the promise of concerted action to address climate change.

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