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What will be the economic impact of the Climate Change Act on South Africa in 2024?
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Story
Ramaphosa Signs Climate Change Act, Overhauls Preferential Procurement
Jul 25, 2024, 08:13 AM
South African President Cyril Ramaphosa has signed into law a broad climate change act, marking the promulgation of significant legislation that will compel all levels of government to take climate considerations into account in decision-making and budgeting. The Climate Change Act will equip society with the tools needed to hold government and business accountable to commitments to reduce greenhouse gas emissions. Additionally, the act will set caps for large emitters and require every town and city to publish an adaptation plan. This contentious legislation also marks significant changes to preferential procurement policies in South Africa. Despite these bold climate ambitions, the country's efforts are being derailed by incoherent policies and a shortage of money.
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