Pretoria – The Chief Director of Green Industries at the Department of Trade, Industry and Competition Gerhard Fourie says South Africa must “act decisively” to transition toward a low carbon-intensive economy or face “serious consequences”.
South Africa’s reliance on a high-carbon economy could isolate the country from key trade partners, warned Fourie.
The chief director made his remarks during his presentation on Wednesday, (28 August 2024), at the Competition Commission’s Blue-Bag Media Information Session in Pretoria.
Fourie further cited that many of South Africa’s traditional trading partners were shifting towards products with low carbon footprints, and failure to adapt would see South Africa struggle to compete in the global market.
“There is an immediate need for a comprehensive strategy that focuses on reducing the carbon intensity of key sectors, particularly in metal minerals and mining, to ensure future economic resilience,” Fourie said.
In his presentation, Fourie also identified significant opportunities in the renewable energy sector, particularly in the extraction and processing of critical raw materials required for green product manufacturing.
“The Southern African Development Community is rich in minerals necessary for the green energy transition, and this presents a unique opportunity not just to mine these materials, but to also process and refine them locally,” said Fourie.
“By doing so, we can build industries with higher value and ensure that South Africa becomes a key player in the global green energy supply chain.
“It is on these assertions that I urge for a collective effort to develop and industrialise this sector to unlock its full potential.”
The chief director highlighted the opportunities presented by the global demand for renewable energy products.
The purpose of the session was to provide the media with accurate information about the Competition Commission’s research into the renewable energy market, offering insights into demand, supply, and the barriers to accessing renewable energy products.
The session also aimed to promote awareness of the government’s ongoing efforts to advance renewable energy, foster competition, and address the challenges facing this critical industry.
