South Africa’s President Cyril Ramaphosa warned other developing nations on Monday ( Jul 15 ) that unless they switch to green energy, the proposed carbon taxes from wealthy nations would harm their economies.
Addressing a National Treasury and World Bank culture change event in the investment Pretoria, Ramaphosa said the carbon intensity of South Africa’s economy, which relies heavily on burning coal to generate electricity, was untenable.
” For years our reliance on fuel… permitted us to produce electricity profitably. However, the world has changed and this dependence has come to represent major challenges, he said, citing in particular carbon levies proposed by trading blocs like the European Union.
” Instruments like the European Union’s Carbon Border Adjustment Mechanism… ( have ) the potential to cause great damage to developing economies”, he said.
According to research from Ember, South Africa produced 709g of carbon dioxide per kilowatt-hour of energy in 2022, making it the most carbon-intensive big economy.
That has put it in the world’s best 15 house oil transmitters- above Türkiye, Italy, France or Britain, according to monitor Climate Transparency.
Ramaphosa highlighted the effects of storms next week around the town of Cape Town, which shut down the slot and caused” caused carnage to properties, communities, businesses and infrastructure”, as an example of bad weather impacts.
” The nations of the International South… feel the effects of climate change most, despite being least concerned generally for global pollution”, he said.
South Africa’s fresh strength secretary vowed last week to promote the transition to renewable energy, in a shift in language from his father, a keeper of the petroleum company. How this will take place has only recently become clear.
Western donors are providing billions of dollars in funding to finance the change, but West American officials claim that they have only partially covered the needed funding.
Although the region has some of the best sun and wind energy in the world, years of administrative delays to granting certificates and policy doubt have turned off owners, and last year the federal delayed decommissioning eight coal-fired power stations also into 2030, citing energy security.