$140 million in climate finance will help Southern African industry swap carbon for green hydrogen

The Green Climate Fund's board, meeting in Songdo, South Korea, has approved $140 million in catalytic financing for a programme targeting industrial decarbonisation in Southern Africa, managed by Climate Fund Managers with the Development Bank of Southern Africa as accredited entity. In South Africa and Namibia the money will support green hydrogen production and its derivatives — green ammonia and green methanol — plus cleaner processes in industries that are hard to clean up. Of the total, $84 million goes to the SA-H2 construction equity tranche, and $56 million to Namibia's SDG Namibia One fund. The design is deliberate: public money takes the early risk so that private investors can follow, as the fund works toward a $1.2 billion target.

SDG 13 · Climate action — Mechanism: funding & finance