401. Decarbonisation and Compliance: Assessing the impact of the Climate Change Act on South Africa’s extractives industry
- Author:
- Vincent Obisie-Orlu
- Publication Date:
- 11-2024
- Content Type:
- Special Report
- Institution:
- Good Governance Africa (GGA)
- Abstract:
- The Climate Change Act establishes a regulatory framework for decarbonisation in South Africa’s extractives sector, aligning with Paris Agreement commitments. Key provisions include sectorspecific emissions reduction targets, carbon budgets, and mandatory monitoring and reporting. While enforcement issues and resource limitations exist, companies must prioritise emissions tracking and internal carbon pricing. Environmental, social and governance (ESG) imperatives already incentivise companies in this direction. Investors increasingly direct capital towards companies that demonstrate effective emissions management. Successful adaptation strategies and alignment with national goals are essential for companies to enhance sustainability and attract investment. Collaboration among stakeholders is critical for effectively implementing the Climate Change Act.
- Topic:
- Climate Change, Carbon Emissions, Compliance, and Decarbonization
- Political Geography:
- Africa and South Africa