Just Share says analysis shows Absa intends to continue financing fossil fuel projects

Shareholder activist organisation Just Share has analysed financial services firm Absa’s recently published Coal Financing Standard and Oil and Gas Financing Standard, as well as Absa’s 2022 disclosures partially aligned with the recommendations of the Task Force on Climate-related Financial Disclosures (2021 TCFD Report), and says “Absa’s intention is quite clearly to continue to fund coal, oil and gas projects.” The bank’s oil and gas standard states that “Absa will strive to achieve a balanced energy portfolio funding diversification mix between renewable energy, oil, natural gas, biomass, hydrogen and coal”, Just Share climate change engagement director Robyn Hugo says.
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AfriForum seeks to assist households, businesses wanting to sell power into grid

Civil rights organisation AfriForum has launched its #MyPower campaign following President Cyril Ramaphosa’s announcement that businesses and households will be allowed to install solar power with no licencing threshold and feed excess power into the grid. The campaign is asking for a mandate that AfriForum and its service company Pionier can negotiate on behalf of households and businesses with the newly established Energy Crisis Committee, as well as with the National Energy Regulator of South Africa on regulations for private power generation, sales to the power grid and tariffs.
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South African miners commit to playing their part to support new energy plan

Minerals Council South Africa says it supports the inclusion of the private sector in government’s plan to resolve the country’s electricity crisis. “President Cyril Ramaphosa outlined a detailed plan by the government to abolish the 100 MW licensing cap on private sector renewable energy projects, ensure greater private sector participation to urgently install electricity generation capacity, address Eskom’s R400-billion debt and its internal crime and corruption problems, and streamline regulatory processes by eliminating red tape.
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Govt’s new energy plan broadly welcomed, but many call for firm deadlines

President Cyril Ramaphosa’s plan to tackle the power crisis in South Africa, as announced and unpacked on July 25, has been well received by the business, labour, academic and environmental communities, but many call for firm deadlines to be added to the plan.

Industry body Business Unity South Africa (Busa) CEO Cas Coovadia says the head of State duly considered the private sector and energy experts’ proposals for stabilising and securing the country’s energy supply.

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DA to launch Energy Plan Implementation Tracker to hold govt accountable

The Democratic Alliance (DA) announced on Tuesday that it will monitor government’s progress in its energy plan and hold it to account with the launch of the party’s Energy Plan Implementation Tracker. On Monday evening, President Cyril Ramaphosa unveiled several far-reaching interventions – including a doubling in the allocation for the next renewables procurement round, the scrapping of the 100 MW licence-exemption threshold for distributed generators and a proposal of a feed-in tariff for self-generating households and businesses – as part of a much-anticipated action plan for ending load-shedding.
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TNPA eyes procurement of up to 80 MW of renewable energy for its ports

State-owned national ports operator Transnet National Ports Authority (TNPA) has issued a request for information (RFI) to the private sector as it intends to procure between 50 MW and 80 MW of renewable energy across its eight commercial seaports – Richards Bay, Durban, Saldanha, Cape Town, Port Elizabeth, East London, Mossel Bay and Ngqura.

TNPA recently carried out an internal audit, which indicated a need to stabilise the entity’s energy supply and costs, and reduce greenhouse-gas emissions at the eight commercial seaports.

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