Eco Minute 13:30

BULLETIN 10 December 1:30 pm

Good afternoon, here is your Eco Minute:

# The South African Reserve Bank says climate change poses economic and social risks that can affect the workings of the financial system. The bank’s deputy governor, Fundi Tshazibana, says central banks have a responsibility to ensure that financial systems can survive and manage climate-related shocks. Tshazibana says SARB is working to ensure that financial institutions and markets consider climate-related risks in their operations. They also seek to understand the effects of climate change on inflation and financial stability, and take action against these risks. 

# The University of Witwatersrand has entered into a 2.6-billion-rand partnership with five universities, including Imperial College London, to form the Rio Tinto Centre for Future Materials. The centre will accelerate the development of new sustainable techniques and technologies required, to deliver the materials for the just energy transition. The centre’s first challenge will focus on the bottleneck to electrification and overcoming the copper challenge. Wits says there is a need to reduce the demand for copper and work out how to extract it from the ground in the most sustainable way.

# And finally: University of Johannesburg researchers have found that the West Rand District Municipality is facing significant challenges in tackling climate change. A report has exposed gaps in emissions tracking, funding, and planning. Despite being home to high-emission activities like mining and transport, it appears no comprehensive climate action plans or reduction targets exist. Local officials have cited insufficient resources and misaligned policies as key obstacles. Recommendations by the researchers include the improvement of emissions data collection and prioritisation of climate hotspots.

Stay tuned for more news………….