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South Africaâs climate change bill 2024: What it means for policymakers and investors.
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Climate change brings the global economy to everyoneâs doorstep, so South Africa's Climate Change Act 22 of 2024 represents a vital step in the right direction.
SANDTON, GAUTENG, SOUTH AFRICA, September 2, 2024 /EINPresswire.com/ — On the 23rd of July 2024 South Africa's government officially enacted the Climate Change Bill (B9-2022), marking a significant step in the nationâs commitment to combating climate change. This milestone follows the policy changes of 2021 which saw the embedded generation license limit increased from 1 MW to 100 MW, followed by complete removal in 2022. By March 2022 the Climate Change Bill began its journey through the legal and public processes, spearheaded by the Department of Forestry, Fisheries and the Environment.
The Climate Change Act 22 of 2024 outlines South Africaâs strategies for reducing greenhouse gas emissions, through mitigation, adaptation and building climate change resilience. It aims to minimise job losses while creating new employment opportunities in the green economy.
In the same year the bill was signed, Solar Rais launched the Women for Green Jobs (W4GJ) programme. This groundbreaking initiative, powered by partnerships with Shortlist and the Global Energy Alliance for People and Planet (GEAPP), aims to empower unemployed young women in South Africa by creating 50 jobs in the renewable energy and e-mobility sectors.
Solar Rais provides sustainability advisory support to policymakers and investors, led by CEO Sabatha, a member of the Energy Council of South Africa. Solar Rais was the first South African company to join the United Nations Sustainable Development Solutions Network (UN SDSN) in 2018. Additionally, a best practices knowledge-sharing partnership was established with Rewiring America, a leading electrification nonprofit in the USA, also interested in a climate-safe future.
A safe future aligns with limiting global temperature rise to 1.5 degrees Celsius by 2050, as stipulated by the Paris Agreement. South Africa, as a signatory to the Paris Agreement, is committed to this global goal alongside over 190 other members of the United Nations Framework Convention on Climate Change (UNFCCC).
The Climate Change Bill defines the roles of the Presidential Climate Commission, provinces, and municipalities in mitigation efforts. Real-time feedback tools, such as the En-ROADS software developed by Climate Interactive and the MIT Sloan Sustainability Initiative, can enhance decision-making for policymakers and investors. En-ROADS allows users to explore various scenarios by testing policies and actions, such as coal plant repurposing, carbon pricing, electric transport and energy-efficient buildings.
The Climate Change Bill builds on South Africaâs pioneering climate efforts, including the introduction of Africa's first carbon tax in 2019. This regulatory framework supports UN Sustainable Development Goal 13 and enhances energy security for over 600 million Africans, creating opportunities for inclusive growth and a Just Transition.
With over 50% of South Africa's greenhouse gas emissions coming from the transport and energy sectors, transitioning to e-mobility is crucial for a sustainable future. The bill provides an enabling environment for investors to channel capital toward sustainable infrastructure, backed by regulatory support.
Globally, Chief Investment Officers and equities teams are using En-ROADS to perform the scenario analysis required under the Task Force on Climate-related Financial Disclosures (TCFD). The International Financial Reporting Standards (IFRS) also include sustainability disclosure standards, with CPD-certified training available through partnerships with the Sustainable Stock Exchanges Initiative, ISSB, IFC World Bank Group, and the Johannesburg Stock Exchange.
Johannesburg, contributing over 16% of South Africaâs GDP, stands to benefit from increased investor confidence and improved risk insurance rates under the new Climate Change Bill. Moreover, global impact mapping tools highlight areas at risk from flooding, aiding investors in identifying climate change risks and opportunities.
With the intersection of investment and climate change risks, South Africa is ready to accelerate its climate action efforts through initiatives led by the Presidential Climate Commission. Enhancing energy security and addressing inflation sources, such as the cost of continuous daytime energy, are key priorities. By transitioning to renewable energy, South Africa can reduce long-term costs and foster intergenerational wealth.
Climate change brings the global economy to everyoneâs doorstep, so South Africa's Climate Change Act 22 of 2024 represents a vital step in the right direction. Promoting awareness of natural capital is a core value that supports a sustainable future for all.
Sabatha
Solar Rais
+27 728979675
info@solarrais.co.za
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Legal Disclaimer:
EIN Presswire provides this news content “as is” without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Solar Rais logo
Climate change brings the global economy to everyoneâs doorstep, so South Africa's Climate Change Act 22 of 2024 represents a vital step in the right direction.
SANDTON, GAUTENG, SOUTH AFRICA, September 2, 2024 /EINPresswire.com/ — On the 23rd of July 2024 South Africa's government officially enacted the Climate Change Bill (B9-2022), marking a significant step in the nationâs commitment to combating climate change. This milestone follows the policy changes of 2021 which saw the embedded generation license limit increased from 1 MW to 100 MW, followed by complete removal in 2022. By March 2022 the Climate Change Bill began its journey through the legal and public processes, spearheaded by the Department of Forestry, Fisheries and the Environment.
The Climate Change Act 22 of 2024 outlines South Africaâs strategies for reducing greenhouse gas emissions, through mitigation, adaptation and building climate change resilience. It aims to minimise job losses while creating new employment opportunities in the green economy.
In the same year the bill was signed, Solar Rais launched the Women for Green Jobs (W4GJ) programme. This groundbreaking initiative, powered by partnerships with Shortlist and the Global Energy Alliance for People and Planet (GEAPP), aims to empower unemployed young women in South Africa by creating 50 jobs in the renewable energy and e-mobility sectors.
Solar Rais provides sustainability advisory support to policymakers and investors, led by CEO Sabatha, a member of the Energy Council of South Africa. Solar Rais was the first South African company to join the United Nations Sustainable Development Solutions Network (UN SDSN) in 2018. Additionally, a best practices knowledge-sharing partnership was established with Rewiring America, a leading electrification nonprofit in the USA, also interested in a climate-safe future.
A safe future aligns with limiting global temperature rise to 1.5 degrees Celsius by 2050, as stipulated by the Paris Agreement. South Africa, as a signatory to the Paris Agreement, is committed to this global goal alongside over 190 other members of the United Nations Framework Convention on Climate Change (UNFCCC).
The Climate Change Bill defines the roles of the Presidential Climate Commission, provinces, and municipalities in mitigation efforts. Real-time feedback tools, such as the En-ROADS software developed by Climate Interactive and the MIT Sloan Sustainability Initiative, can enhance decision-making for policymakers and investors. En-ROADS allows users to explore various scenarios by testing policies and actions, such as coal plant repurposing, carbon pricing, electric transport and energy-efficient buildings.
The Climate Change Bill builds on South Africaâs pioneering climate efforts, including the introduction of Africa's first carbon tax in 2019. This regulatory framework supports UN Sustainable Development Goal 13 and enhances energy security for over 600 million Africans, creating opportunities for inclusive growth and a Just Transition.
With over 50% of South Africa's greenhouse gas emissions coming from the transport and energy sectors, transitioning to e-mobility is crucial for a sustainable future. The bill provides an enabling environment for investors to channel capital toward sustainable infrastructure, backed by regulatory support.
Globally, Chief Investment Officers and equities teams are using En-ROADS to perform the scenario analysis required under the Task Force on Climate-related Financial Disclosures (TCFD). The International Financial Reporting Standards (IFRS) also include sustainability disclosure standards, with CPD-certified training available through partnerships with the Sustainable Stock Exchanges Initiative, ISSB, IFC World Bank Group, and the Johannesburg Stock Exchange.
Johannesburg, contributing over 16% of South Africaâs GDP, stands to benefit from increased investor confidence and improved risk insurance rates under the new Climate Change Bill. Moreover, global impact mapping tools highlight areas at risk from flooding, aiding investors in identifying climate change risks and opportunities.
With the intersection of investment and climate change risks, South Africa is ready to accelerate its climate action efforts through initiatives led by the Presidential Climate Commission. Enhancing energy security and addressing inflation sources, such as the cost of continuous daytime energy, are key priorities. By transitioning to renewable energy, South Africa can reduce long-term costs and foster intergenerational wealth.
Climate change brings the global economy to everyoneâs doorstep, so South Africa's Climate Change Act 22 of 2024 represents a vital step in the right direction. Promoting awareness of natural capital is a core value that supports a sustainable future for all.
Sabatha
Solar Rais
+27 728979675
info@solarrais.co.za
Visit us on social media:
Facebook
X
LinkedIn
Instagram
Legal Disclaimer:
EIN Presswire provides this news content “as is” without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
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Lauren Kelly
September 4, 2024 at 3:48 pm
In conclusion, South Africa’s Climate Change Bill 2024 signifies a crucial advancement in the nation’s pursuit of sustainable development and climate resilience. By providing a structured approach to reducing greenhouse gas emissions while fostering job creation in the green economy, the legislation not only aligns with global commitments such as the Paris Agreement but also creates an enabling environment for policymakers and investors. Initiatives like Solar Rais’s Women for Green Jobs program illustrate the potential for inclusive growth and empowerment within the renewable energy sector. As South Africa transitions toward a more sustainable future, the Climate Change Bill stands as a pivotal framework that encourages investment and innovation, ultimately promoting a healthier environment and economy for generations to come.
peggy bailey
September 4, 2024 at 8:48 pm
In conclusion, South Africa’s Climate Change Act 22 of 2024 signifies a pivotal moment in the nation’s environmental policy, reflecting a strong commitment to combat climate change and promote sustainable development. By establishing comprehensive strategies to reduce greenhouse gas emissions and fostering a green economy, the bill not only addresses the urgent need for climate resilience but also enhances opportunities for investment in renewable energy and sustainable infrastructure. Initiatives like the Women for Green Jobs program further emphasize the potential for job creation and empowerment within the green sector. As South Africa aligns its actions with global climate goals, this legislation offers a framework for both policymakers and investors to navigate the evolving landscape of climate responsibility, ensuring a safer and more sustainable future for all.
craig richardson
September 5, 2024 at 2:15 pm
In conclusion, South Africa’s Climate Change Act 22 of 2024 marks a pivotal moment in the nation’s commitment to environmental sustainability and economic resilience. By outlining strategic measures to reduce greenhouse gas emissions and fostering the growth of a green economy, the bill creates a framework for policymakers and investors to collaborate on sustainable initiatives. The integration of tools like En-ROADS for scenario analysis further empowers stakeholders to make informed decisions that align with global climate goals. As South Africa navigates its path towards a low-carbon future, the Climate Change Act not only addresses immediate environmental challenges but also catalyzes economic opportunities, particularly in renewable energy and e-mobility sectors. Emphasizing a Just Transition, this landmark legislation is set to enhance investor confidence and contribute positively to the nation’s long-term growth and stability.
Walter Torres
September 5, 2024 at 3:28 pm
In conclusion, South Africa’s Climate Change Act 22 of 2024 represents a transformative commitment to addressing climate change while fostering economic growth. This legislation not only outlines a comprehensive strategy for reducing greenhouse gas emissions but also prioritizes the creation of sustainable job opportunities, particularly through innovative programs like Women for Green Jobs. By aligning with global climate goals, including the Paris Agreement, and providing a robust framework for investment in renewable energy, the bill enhances the country’s resilience to climate impacts. As policymakers and investors engage with the provisions of the Climate Change Bill, the potential for a greener, more sustainable economy in South Africa becomes increasingly tangible, paving the way for a just transition that benefits all citizens.
Adrienne Hughes
September 5, 2024 at 7:30 pm
South Africa’s Climate Change Act 22 of 2024 is a transformative legislative framework that significantly advances the nation’s commitment to addressing climate change while fostering economic growth and job creation. By setting clear strategies for greenhouse gas reduction and creating an enabling environment for investors, the Act positions South Africa at the forefront of the green economy. Through initiatives like the Women for Green Jobs program and collaboration with various stakeholders, including local and international partners, the country is not only enhancing its resilience to climate impacts but also paving the way for sustainable development. This landmark legislation serves as a critical catalyst for both policymakers and investors, emphasizing the importance of integrating sustainable practices into economic planning and ensuring a sustainable future for generations to come.
Rick Hughes
September 5, 2024 at 7:33 pm
South Africa’s Climate Change Bill 2024 is a landmark legislative achievement that underscores the nation’s commitment to addressing the pressing challenges of climate change. By outlining comprehensive strategies for reducing greenhouse gas emissions and fostering a sustainable green economy, the bill not only promotes environmental resilience but also aims to create jobs and stimulate investment in renewable energy sectors. With robust frameworks and tools in place for policymakers and investors, such as real-time feedback mechanisms and global scenario analysis, South Africa is poised to lead the way in climate action while contributing to the broader goals of the Paris Agreement. The enactment of this bill signifies a pivotal moment in the journey toward an inclusive and sustainable future, aligning economic growth with environmental stewardship.