US EditionSAfrica's Coal Dependency Puts Economy at Risk: Report
- The Net Zero Tracker watchdog warned on Monday that South Africa’s economy, heavily reliant on coal, faces the potential loss of substantial export income and numerous jobs as global demand shifts towards carbon-neutral products.
- This risk arises as the European Union adopted Carbon Border Adjustment Mechanisms in 2022, with a test period starting in October 2023 and full enforcement in 2026, targeting carbon-intensive imports such as steel and cement.
- South Africa relies on coal for roughly 80 percent of its electricity production and conducts 78 percent of its $135 billion exports with 139 countries committed to net zero goals, supporting more than 1.2 million jobs within the country.
- John Lang, lead of the Net Zero Tracker project, stated that South Africa can shift its focus by leveraging its established renewable energy resources, abundant essential minerals, and influential participation in international forums to become a major provider of low-emission products.
- Failure to decarbonise supply chains could shrink exports by up to 10 percent, especially to the EU by four percent by 2030, but South Africa could avoid losses by phasing out coal rapidly and shifting to low-emission value chains.
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SAfrica’s coal dependency puts economy at risk: report
South Africa's coal-dependent economy could lose billions in export revenue and thousands of jobs as more countries and companies seek carbon-free imports, the Net Zero Tracker watchdog said Monday. Africa's most industrialised nation is one of the largest polluters in the world and generates about 80 percent of its electricity through coal. This makes it
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SAfrica's coal dependency puts economy at risk: report
South Africa's coal-dependent economy could lose billions in export revenue and thousands of jobs as more countries and companies seek carbon-free imports, the Net Zero Tracker watchdog said Monday.
·Missoula, United States
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SA's economy could lose export revenues and jobs as more countries and companies prioritize carbon-free imports.
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