Global South needs to come together for a better just transition deal

Subject :Environment

Section: International Convention

Context: South Africa was the first country that signed a Just Energy Transition Partnership (JETP) with G7 countries in 2021 for $8.5 billion.

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Though the Government of India denies the need for a uniform policy on a just transition away from coal, the push for such a policy, from experts, is getting stronger.
Recently, a Delhi-based think tank, iForest, released two reports – one proposed a just transition framework, including polices, plans and institutional mechanisms, while the other estimated that India needs $900 billion over the next 30 years for a just energy transition. Both the reports emphasised the need for international cooperation for a just transition in the Global South. The reports state that countries such as India need grants and concessional financing to support the economic diversification of fossil fuel regions, green energy, and industrial development and to build the resilience of the impacted communities.
Meanwhile, there is also an increasing recognition among the global community of the importance of just transition finance, which is reflected in collaborations between developed countries (G7) and developing countries.
From the Global South countries, only South Africa has developed a comprehensive just transition framework so far.