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Ramaphosa highlights risks of climate change on the economy

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President Ramaphosa has stressed the need for SA to act swiftly in transitioning to a lower carbon economy, to not lose in investment and trading with other countries.

President Cyril Ramaphosa issued his weekly newsletter on Monday, 11 October 2021, in which he highlighted the economic challenges and risks of the climate change crisis for the country. Ramaphosa noted how many South Africans are already feeling the effects of climate change with broader economic risks, with South Africa’s trading partners pursuing the goal of net-zero carbon emissions. This is likely to increase restrictions on the import of goods produced using carbon-intensive energy.

He also stated that because the country depends on coal-generated electricity, exported products could face trade barriers with consumers in other countries that are unwilling to buy South African products. Ramaphosa further highlighted how another economic risk would be that investors could shy away from investing in fossil fuel-powered industries, meaning that there is a need to act urgently to transition to a low-carbon economy.

See the post below.

Mahlohonolo Lakaje
[email protected]

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