Eco Minute 13:30

BULLETIN 6 March 1:30 pm

Good afternoon, here is your Eco Minute:

# The National Association of Automobile Manufacturers of South Africa encourages the public to consider buying electric vehicles to support eco-friendly transportation. Despite a notable 65-percent increase in the sale of electric and hybrid vehicles to seven-thousand-693 last year, these environmentally friendly options still represent less than two-percent of new vehicle sales. News24 reports Naamsa’s CEO, Mike Mabasa, attributes this slow adoption to range anxiety and high import duties. He urges government to reduce import duties to boost consumer interest and expedite the transition to a greener automotive landscape.

# BloombergNEF forecasts South Africa to rank as the tenth largest photovoltaic market globally this year. According to the South African Photovoltaic Industry Association’s CEO, Rethabile Melamu, solar PV’s dominance continues to grow. The report indicates a 76-percent growth in PV capacity internationally last year. The report anticipates continued growth in rooftop solar, especially during winter months when load-shedding is more frequent. Business adoption of rooftop solar is also expected to increase, with a significant portion including battery storage.  

# And finally: The United Nations’ Economic Commission for Africa has warned the continent faces a 47-trillion-rand climate finance shortfall by 2030. UNECA executive secretary, Claver Gatete, says despite low emissions, Africa bears severe climate impacts, costing five-percent of its gross domestic product annually. Gatete says only two-percent of global clean energy investments reaches Africa. The commission is calling for global financial reform to address unfair risk perceptions and credit ratings.

Stay tuned for more news………….