Similar to many developing countries, Ramaphosa said South Africa is extremely vulnerable to the effects of climate change.
“As these countries, we carry the least responsibility historically for the greenhouse gas emissions that cause global warming. Beyond the cost to human health, safety and livelihoods, climate change is very much an economic issue. Agriculture, tourism, mining and manufacturing are some of the areas of economic activity that could be adversely affected by climate change.”
The president also bemoaned the dire effects on water and food security, public infrastructure, human settlements, healthcare and education.
He said the impact on the public purse was a cause for concern.
“On the one hand, disasters affect economic growth and lower tax revenues. On the other hand they require increased expenditure on disaster relief, health care and other forms of social support for affected communities.”
Ramaphosa said the country is undertaking policies and programmes to adapt to climate change and mitigate its impact.
“We embarked, for example, on the renewable energy independent power producer procurement programme. This has been a success, attracting more than R209bn in investment and adding much-needed capacity to our electricity grid.
“The just energy transition investment plan will drive huge investments in the electricity grid, green hydrogen, electric vehicles, economic diversification and skills development.”
Ramaphosa said government continues to explore opportunities to meet its emissions reduction targets in industries such as mining, green hydrogen production and electric vehicle manufacturing.
He said as a signatory to the Paris Agreement to Combat Climate Change, South Africa has an obligation to reduce emissions and make a fair contribution to the global climate change effort.
Severe weather a reminder to upscale climate change action, says Ramaphosa
President Cyril Ramaphosa says the upcoming seminar on financing the country’s climate actions will ensure the economy is resilient in the face of climate change.
Hosted by National Treasury, the event will bring together the presidential climate commission, government representatives, industry, academia, climate experts and development partners to chart a way towards scaling up climate action across the economy.
In his weekly newsletter on Monday, the president described the severe storms that have lashed parts of the Western Cape as an eye-opener and “dashing reminder” that extreme weather is becoming more frequent and intense.
The effects of climate change are worsening, he said.
“We recall that in 2022 parts of KwaZulu-Natal experienced the heaviest rains in more than half a century, leading to the deaths of more than 300 people and causing catastrophic damage to homes, businesses and key infrastructure. This year alone, there have been severe storms and floods in some parts of the country and heatwaves in others.”
Similar to many developing countries, Ramaphosa said South Africa is extremely vulnerable to the effects of climate change.
“As these countries, we carry the least responsibility historically for the greenhouse gas emissions that cause global warming. Beyond the cost to human health, safety and livelihoods, climate change is very much an economic issue. Agriculture, tourism, mining and manufacturing are some of the areas of economic activity that could be adversely affected by climate change.”
The president also bemoaned the dire effects on water and food security, public infrastructure, human settlements, healthcare and education.
He said the impact on the public purse was a cause for concern.
“On the one hand, disasters affect economic growth and lower tax revenues. On the other hand they require increased expenditure on disaster relief, health care and other forms of social support for affected communities.”
Ramaphosa said the country is undertaking policies and programmes to adapt to climate change and mitigate its impact.
“We embarked, for example, on the renewable energy independent power producer procurement programme. This has been a success, attracting more than R209bn in investment and adding much-needed capacity to our electricity grid.
“The just energy transition investment plan will drive huge investments in the electricity grid, green hydrogen, electric vehicles, economic diversification and skills development.”
Ramaphosa said government continues to explore opportunities to meet its emissions reduction targets in industries such as mining, green hydrogen production and electric vehicle manufacturing.
He said as a signatory to the Paris Agreement to Combat Climate Change, South Africa has an obligation to reduce emissions and make a fair contribution to the global climate change effort.
Ramaphosa said low-carbon development is necessary if the country is to successfully adapt to and mitigate the effects of climate change and build resilient communities.
The government is committed to decarbonise at a pace and scale the country and economy can afford to mitigate the impact of such a transition on all sectors of society, particularly vulnerable workers and communities
Despite this commitment, he said the increasing frequency of extreme weather events was a stark reminder that government has to accelerate its efforts.
The president said government needs to raise funds to support industrial policy that facilitates the just energy transition.
“It is essential that countries with developed economies fulfil their financial commitments to support the climate actions of countries that are most affected, including making funds available for the loss and damage these countries experience due to climate change.”
The symposium is expected to take place this week.
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