{"id":47418,"date":"2023-04-21T11:56:23","date_gmt":"2023-04-21T11:56:23","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/eskom-chair-mpho-makwana-says-sa-needs-to-decarbonise-fast"},"modified":"2023-04-21T12:10:53","modified_gmt":"2023-04-21T12:10:53","slug":"eskom-chair-mpho-makwana-says-sa-needs-to-decarbonise-fast","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/eskom-chair-mpho-makwana-says-sa-needs-to-decarbonise-fast","title":{"rendered":"Eskom chair Mpho Makwana says SA needs to decarbonise fast"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>As President Cyril Ramaphosa considers a proposal to extend the lifespan of some of South Africa\u2019s coal-fired power plants, Eskom chairperson Mpho Makwana has said the country needs to decarbonise its economy rapidly.<\/p>\n

“We need real change in a short space of time to transform and decarbonise our energy sector, transportation sector, food systems, and built environments,” Makwana wrote in Nedbank\u2019s 2022 annual report, published on Thursday.<\/p>\n

He is currently chair of the bank but will step down in June after taking on the same role at Eskom.<\/p>\n

The transition to lower-carbon technologies would create opportunities for the country, he said.<\/p>\n

On Wednesday, President Cyril Ramaphosa held a special Cabinet meeting to discuss Ramokgopa\u2019s plans to restore energy security, which include a proposal to extend the life of several coal plants.<\/p>\n

Seven of Eskom\u2019s 15 coal-fired power stations will reach their end of life this decade, which could exacerbate the electricity crisis if that capacity is not replaced with new generation facilities.<\/p>\n

However, some experts have warned that life extensions could jeopardise South Africa\u2019s $8.5 billion (R154 billion) climate finance deal with the US, UK, France, Germany and the EU, which is aimed at accelerating investments in renewable energy.<\/p>\n

Such a move could also affect South African exporters, considering the country\u2019s status as one of the world\u2019s largest emitters of greenhouse gases.<\/p>\n

An analysis by S&P Global Commodity Insights found that the EU\u2019s carbon border adjustment mechanism (CBAM) will hurt SA more than any other country because more than 80% of its electricity is derived from coal.<\/p>\n

In the 15 years to 2040, CBAM could cost SA $91.8 billion, according to S&P, which notes that iron and steel exporters will be most affected.<\/p>\n

For its part, Nedbank had made “several investments and commitments aimed at mitigating climate risk and driving a positive transition that creates jobs and business opportunities”.<\/p>\n

Also in the report, Nedbank CEO Mike Brown wrote: “We firmly believe that South Africa\u2019s path to net zero is, over time, also our path to energy security.”<\/p>\n

Meanwhile, Makwana warned that 2023 would likely be “another difficult year” for SA as rolling blackouts continue to curb economic growth.<\/p>\n

Largely because of load shedding \u2013 the result of a shortage of generation capacity and ongoing breakdowns across Eskom\u2019s ageing fleet of coal-fired power stations \u2013 Nedbank expects South Africa\u2019s economy will expand by only 0.4% in 2023.<\/p>\n

“The worsening electricity crisis poses the greatest threat to the economy,” Makwana said.<\/p>\n

“The rise in levels of load-shedding experienced during the first part of 2023 continues to jeopardise business confidence, investment, and growth, while worsening the living conditions of most South Africans.”<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. As President Cyril Ramaphosa considers a proposal to extend the lifespan of some of South Africa\u2019s coal-fired power plants, Eskom chairperson Mpho Makwana has said the country needs to decarbonise its economy rapidly. “We need real change in a short space of time to transform and decarbonise our energy sector, transportation sector, […]<\/p>\n","protected":false},"author":84,"featured_media":47417,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,5063,3153,127,1426,5064,275],"class_list":["post-47418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-carbon","tag-climate","tag-eskom","tag-loadshedding","tag-nedank","tag-south-africa-2"],"yoast_head":"\nEskom chair Mpho Makwana says SA needs to decarbonise fast - South Africa<\/title>\n<meta name=\"description\" content=\"As President Cyril Ramaphosa considers a proposal to extend the lifespan of some of South Africa\u2019s coal-fired power plan ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/eskom-chair-mpho-makwana-says-sa-needs-to-decarbonise-fast\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eskom chair Mpho Makwana says SA needs to decarbonise fast\" \/>\n<meta property=\"og:description\" content=\"As President Cyril Ramaphosa considers a proposal to extend the lifespan of some of South Africa\u2019s coal-fired power plan ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/eskom-chair-mpho-makwana-says-sa-needs-to-decarbonise-fast\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-21T11:56:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-21T12:10:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/04\/postQueueImg_1682061990.50.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/eskom-chair-mpho-makwana-says-sa-needs-to-decarbonise-fast#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/eskom-chair-mpho-makwana-says-sa-needs-to-decarbonise-fast\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Eskom chair Mpho Makwana says SA needs to decarbonise fast\",\"datePublished\":\"2023-04-21T11:56:23+00:00\",\"dateModified\":\"2023-04-21T12:10:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/eskom-chair-mpho-makwana-says-sa-needs-to-decarbonise-fast\"},\"wordCount\":463,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/eskom-chair-mpho-makwana-says-sa-needs-to-decarbonise-fast#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/04\/postQueueImg_1682061990.50.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"carbon\",\"climate\",\"Eskom\",\"loadshedding\",\"nedank\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/eskom-chair-mpho-makwana-says-sa-needs-to-decarbonise-fast#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/eskom-chair-mpho-makwana-says-sa-needs-to-decarbonise-fast\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/eskom-chair-mpho-makwana-says-sa-needs-to-decarbonise-fast\",\"name\":\"Eskom chair Mpho Makwana says SA needs to decarbonise fast - 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