SA should reduce emissions by 60-75% by 2050.

It sets the stage for ten years of unprecedented growth in business, government and community solutions, investment, skills and technology. As global economies plan to emerge from the epidemic, the index warns of the dangers of returning to “normal business” in the race for recovery and new growth.

Over the past decade, the PwC UK Index has modeled economic growth and energy-related carbon emissions data, comparing the extent to which this Paris Agreement has been achieved since its inception. It monitors how economies are moving in terms of breaking the link between economic growth and increasing carbon emissions.

Delayed growth

Following the full data on energy and economic data (coming soon), this year’s index shows that energy-related carbon dioxide emissions have slowed down. A.D. In 2019, global energy-related CO2 emissions increased by 0.5% and 2.9%. Carbon levels have dropped by 2.4%, which is more than 1.5% of the long-term average carbon dioxide level, but less than the growth required to keep global warming below 1.5 C.

Jay Mamat, a partner at PwC South Africa’s Sustainable and Climate Change Partnership, said: The western part of the country will increase by 2።. Studies have shown that an increase in temperature is associated with an increase in mortality by 0.9% over some levels.

“South Africa’s low-emission development strategy will be crucial for the country’s resilience to climate change, a key decade for real, transformative implementation.”

Emissions and power consumption

A.D. By 2020, fossil fuels continue to dominate, with a 57% increase in energy consumption being achieved only by natural gas and oil. Global energy consumption increased by 1.3% and energy-related CO2 emissions increased by 0.5%.

For the first time since 2016, coal consumption has decreased (0.6% reduction). There were steady increases in oil consumption (0.8% growth) and natural gas (2.0% growth). On renewable energy, although growth rates are recorded in wind (12.1%) and solar (23.8%), overall, they account for only 11 percent of global energy consumption.

In terms of performance in South Africa, the Net Zero Economy Index also shows the following.

• South Africa continues to make little progress in tackling GDP. Along with Indonesia, South Africa has reported a steady increase in carbon emissions for several years.
• South Africa has the highest G20 carbon footprint in 520 (tCO₂ / $ m GDP) in 2019, with China second with 443 points, both above the international average of 286.
• Carbon production in South Africa increased by 1.4% in 2018-2019 and real GDP growth by 0.2%. Compared to China’s 6.1 percent real GDP growth, it is clear that South Africa has significant economic potential for high carbon emissions.
• To achieve the goal of raising global temperatures to 2 ° C, South Africa needs to reduce emissions by 50 60–75% by 2050.

Kovid-19

The CVD-19 recovery packages offer unique opportunities to focus and accelerate clean and sustainable infrastructure and industry by creating new business and employment opportunities.

Peter Gasman, global environmental, social and governance leader, PwC, comments: “While governments have a key role to play, climate change is shifting its focus to trade and finance to opportunities and measures. We cannot underestimate the potential for great value in integrated products and services.

We must not underestimate the dangers of translating covenants into physical, financial, operational, and nominal. Failure to respond to the roadmap for change and creating transparency for stakeholders will erode long-term costs, especially for high-performing businesses and industries.

Looking back, Mamata concludes: “The CVD-19 epidemic has given us an opportunity to pause and examine the ways in which we, as an international community, have to be proactive. For the first time, South Africa’s reliance on traditional cheap energy sources, such as coal, coincides with a time when renewable prices are becoming cheaper.

According to South Africa’s 2030 National Development Plan, there is growing international recognition of the need for a fair transition to a low carbon economy. The social and economic costs of the epidemic in South Africa are enormous, but we have a unique opportunity. Ensure that rehabilitation programs transition to a socially equitable and at the same time low-carbon economy.

take down Net Zero Index for SA over here.