Eco Minute 13:30

BULLETIN 22 May 1:30 pm

Good afternoon, here is your Eco Minute:

# The South African Reserve Bank says the country needs to reduce the carbon intensity of production more rapidly. In its report, it says the country’s economic growth could be severely affected if carbon taxes are widely imposed on its exports. The Reserve Bank says under a worst-case scenario, the hit could reach ten-percent of exports by 2050. South Africa contributes only one-percent to global greenhouse gas emissions, but the carbon intensity of its economy is the highest of any of the Group of 20 nations.

# South Africa’s 105-billion-rand green hydrogen, green ammonia project in the Eastern Cape will now be underpinned by a cluster of nine solar projects in De Aar in the Northern Cape. The one million tons of green ammonia a year that will be produced will provide clean energy to assist with the decarbonisation of heavy industries and transportation industries. It will leverage the region’s renewable energy resources, land, port infrastructure, and minerals, creating a hydrogen valley-type initiative.

# And finally: Today is International Day for Biological Diversity commemorated under the theme Be part of the Plan. This is a call to action to encourage governments, communities, non-governmental organisations, lawmakers, and businesses to highlight how they are supporting the implementation of the Biodiversity Plan. The plan sets goals and concrete measures to stop and reverse the loss of nature by 2050. The United Nations says despite all technological advances everyone is completely dependent on healthy and vibrant ecosystems for water, food, and energy.

Stay tuned for more news………….