Post COP27 Outlook - South Africa needs to get going on the transition to a low-carbon economy

South Africa needs to rapidly change its energy economy. What does this mean for South Africa’s economy and Business in particular? To fulfil the promise made through the Paris Agreement, South Africa must act decisively and quickly in order to attract investments and support the need to fund such transformational shift. South Africa needs to make this transition work, or risk losing up to 50% of its export value as our trading partners, mindful of their own climate change pledges, align trade and commerce to reflect their net zero commitments.

Key Findings/Recommendations: The country needs to invest R6-billion to decarbonise the economy by 2050, based on a defined series of sector level pathways in a manner that is just, leaves no one behind, and simultaneously addresses our high levels of poverty, unemployment and the great inequality divide. The next steps are for South African business to stand together behind a net zero and resilient economy and to continue to work collaboratively with the Government and other actors to drive this shift. Ensuring South Africa reaches its goal of a net-zero economy by 2050 will require firm and visionary leadership, exceptional and sustained coordination and technical expertise.

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