Latest news with #R2.57
IOL News
21 hours ago
- Business
- IOL News
South Africa's coal dependency at risk: billions in revenue and jobs on the line
Steam rises from the cooling towers of the Matla power station, a coal-fired power plant operated by Eskom in Mpumalanga. South Africa's reliance on coal could jeopardise billions in export revenue and thousands of jobs as global demand shifts towards carbon-free imports, warns the Net Zero Tracker. 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 "uniquely vulnerable" as companies decarbonise their supply chains and countries penalise carbon-intensive imports, according to the group, a collaboration of four non-profit organisations that tracks net zero pledges. "78 percent of South Africa's exports, worth $135 billion (R2.57 trillion), are traded with 139 jurisdictions which have net zero targets in place. Collectively, these exports support over 1.2 million domestic jobs," the report said. If the country fails to decarbonise its supply chains, it could lose some of that trade and related jobs, it said. The group said South Africa could avoid this scenario by phasing out coal more rapidly and positioning itself as a "strategic supplier in low-emission value chains". "South Africa has the tools to pivot - proven renewables potential, critical minerals, and seats at global tables," said Net Zero Tracker project lead John Lang. The report argued that South Africa was "well-positioned to become a key supplier of low-emission goods". One of the driving forces behind the decarbonisation push is the European Union's Carbon Border Adjustment Mechanisms (CBAMs). Adopted in 2022, the policy imposes a carbon price on imports of goods such as steel, aluminium and cement from countries with lower environmental standards. A test period began in October 2023 before the law's full entry into force in 2026. The South African Reserve Bank has warned that carbon-based tariffs could reduce exports by up to 10 percent and that CBAMs alone could shrink exports to the EU by four percent by 2030.
IOL News
21 hours ago
- Business
- IOL News
South Africa's coal dependency at risk: billions in revenue and jobs on the line
Steam rises from the cooling towers of the Matla power station, a coal-fired power plant operated by Eskom in Mpumalanga. South Africa's reliance on coal could jeopardise billions in export revenue and thousands of jobs as global demand shifts towards carbon-free imports, warns the Net Zero Tracker. 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 "uniquely vulnerable" as companies decarbonise their supply chains and countries penalise carbon-intensive imports, according to the group, a collaboration of four non-profit organisations that tracks net zero pledges. "78 percent of South Africa's exports, worth $135 billion (R2.57 trillion), are traded with 139 jurisdictions which have net zero targets in place. Collectively, these exports support over 1.2 million domestic jobs," the report said. If the country fails to decarbonise its supply chains, it could lose some of that trade and related jobs, it said. The group said South Africa could avoid this scenario by phasing out coal more rapidly and positioning itself as a "strategic supplier in low-emission value chains". "South Africa has the tools to pivot - proven renewables potential, critical minerals, and seats at global tables," said Net Zero Tracker project lead John Lang. The report argued that South Africa was "well-positioned to become a key supplier of low-emission goods". One of the driving forces behind the decarbonisation push is the European Union's Carbon Border Adjustment Mechanisms (CBAMs). Adopted in 2022, the policy imposes a carbon price on imports of goods such as steel, aluminium and cement from countries with lower environmental standards. A test period began in October 2023 before the law's full entry into force in 2026. The South African Reserve Bank has warned that carbon-based tariffs could reduce exports by up to 10 percent and that CBAMs alone could shrink exports to the EU by four percent by 2030.
The Citizen
05-05-2025
- Business
- The Citizen
Tzaneen's Talana hostel upgrade to bring 146 homes
TZANEEN – The Department of Cooperative Governance, Human Settlements and Traditional Affairs (CoGHSTA) has announced the construction of 146 Community Residential Units (CRUs) at Talana Hostel in Tzaneen as part of its R2.57 billion Integrated Development Plan (IDP) and budget. Speaking during the presentation, CoGHSTA MEC Basikopo Makamu confirmed that the project is set to begin in the second quarter of 2025, with the procurement process for a contractor already underway. 'To keep up with growing housing demands due to migration, we are prioritising the construction of CRUs in areas like Talana under the Greater Tzaneen Municipality,' Makamu said. He also highlighted efforts to address critical infrastructure challenges, noting that CoGHSTA will assist water service authorities in upgrading sewer systems posing health risks in areas such as Dan village in Tzaneen. He reported that while the sewer line in Makotse village has been completed, engineering designs for Dan village are in progress following a detailed site assessment. Makamu reaffirmed the department's commitment to reducing informal settlements, including targeted intervention in the Maruleng Municipality. He further outlined progress on various projects in the Mopani District, including the Ha-Mawasha Sewer Bulk Line, Giyani Extension F and H Bulk Water Pipelines, and the Siyandhani Bulk Sewer Pipeline. Makamu said he recently visited the Giyani Section F and Masakaneng bulk water and sewage projects. He praised the progress, especially in Giyani Section F, where the project is complete and ready for municipal allocation of residential sites. The development has already created 21 job opportunities and is expected to benefit 365 households, he said. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
