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South Africa urged to act with urgency to build a net-zero economy

South Africa needs to act now and transition to a low-carbon, climate-resilient and competitive economy to unlock new green opportunities and avoid the “massive” cost of inaction around climate change, a report recently published by the National Business Initiative (NBI), in partnership with Business Unity South Africa (Busa) and the Boston Consulting Group (BCG), has found. The NBI-Busa-BCG Climate Pathways project last week published the ‘Financing South Africa’s Just Transition’ and ‘South Africa’s Net-Zero Transition’ reports.
December 20, 2022 by

AfDB approves R2.2bn loan to DBSA

Development finance institution (DFI) the African Development Bank (AfDB) group has approved a R2.2-billion line of credit to the Development Bank of Southern Africa (DBSA) to expand its portfolio with strategic projects in energy, infrastructure and communications technology in the Southern Africa region and elsewhere in Africa. The DBSA is seeking to raise $1-billion (R19-billion) in funds over the next three years, to expand its portfolio and focus on clean and renewable energy, infrastructure, information and communications technology and social as well as women-owned projects in the Southern Africa Development Community region.
December 20, 2022 by

Climate change effects weighing heavier on African citizens – EIB

An Africa edition of the ‘2022 Climate Survey’ conducted by the European Investment Bank (EIB) has found that 88% of African respondents believe climate change is already affecting their everyday life, while 61% believe that climate change and environmental damage have affected their income or source of livelihood. The effects to income and livelihoods are typically a result of severe drought, rising sea levels or coastal erosion, or extreme weather events such as floods or hurricanes.
December 20, 2022 by

Zimbabwe proposes incentives for $1bn solar projects

Zimbabwe has proposed incentives to accelerate 1 000 MW of privately owned solar energy projects worth about $1-billion, Finance Minister Mthuli Ncube announced on Monday, as the country scrambles to plug an electricity deficit that threatens to compound its economic woes. The southern African country is currently generating about a third of its 2 000 MW peak power demand and experiencing up to 18 hours of power outages daily after its main Kariba hydropower plant cut electricity generation due to low water levels. The country’s ageing coal plants are prone to frequent breakdowns, impacting mines, industry and households.
December 20, 2022 by

Victorious Ramphosa’s tough task to revive South African economy

Cyril Ramaphosa fended off an impeachment inquiry and internal dissent in South Africa’s governing African National Congress to win re-election as its leader. Rebuilding support for the party ahead of a national vote scheduled for 2024 and tackling the nation’s multitude of socio-economic ills is likely to be even more arduous. The ANC is “increasingly becoming unpopular” and Ramaphosa’s most difficult tasks will be to re-inspire confidence in himself and the party, and to win support for measures needed to turn the country around, said Thabi Leoka, a Johannesburg-based economist.
December 19, 2022 by

Parliament welcomes army deployment at Eskom

The deployment of the South African National Defence Force (SANDF) at four Eskom power stations has been welcomed by the chairperson of Parliament’s Portfolio Committee on Mineral Resources and Energy, Sahlulele Luzipo.  News24 reported late on Saturday that a minimum of 10 soldiers would be deployed at each of the following power stations: Majuba, Camden, Grootvlei, and Tutuka.
December 18, 2022 by

Bumper green aluminium output is good news for carmakers, and climate

Aluminium makers are set to boost low-carbon metal output by 10% in 2023 and churn out even more in the years ahead, driving down the cost for carmakers seeking climate-friendly supplies and shrinking the industry’s hefty carbon footprint. Aluminium is the most energy-intensive metal to produce, accounting for about 1.1 billion tonnes of global carbon dioxide (CO2) emissions per year. Next year’s forecast increase in “green aluminium” output would reduce that by 13-million tonnes, or about 1.2%.
December 18, 2022 by