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SONA 2022 Climate Change

15 Feb 2022 Nedbank Group Economic Unit NGroupEconomicUnit@Nedbank.co.za +27(0)10 234 8356

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  • At this year’s State of the Nation Address (SONA), the president indicated that South Africa is one of the most affected regions by climate change. The country has often been threatened by extreme weather events such as floods, fires, and other extreme weather conditions associated with global warming. These events have negatively impacted people’s lives and critical infrastructure in the country, with recent flooding hitting Gauteng, the Eastern Cape, and KwaZulu-Natal hard. As global warming worsens, these extreme weather events are becoming more frequent and severe, heightening South Africa’s vulnerability to these negative impacts.
  • The president also expressed the need for more renewable energy production which would make electricity more abundant, dependable, and cost-effective – enabling South African businesses to better compete on a global scale. He stressed the need for investments in electric vehicles and highlighted some of the key opportunities available in the uptake of green hydrogen. He highlighted South Africa’s competitive advantage given its natural wind and solar endowments. The president perceives great benefit in developing the green hydrogen landscape, viewing it as a critical source of energy, which could secure the country's energy needs and substantial export earnings.

NGroupEconomicUnit@Nedbank.co.za
+27(0)10 234 8356
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Nedbank Ltd Reg. No 1951/000009/06.

Authorised financial services and registered credit provider (NCRCP16).

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