Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

SA under fire in Copenhagen

Dec 15 2009 07:25 Jorisna Bonthuys

Related Articles

Walkout heightens failure fears

Copenhagen in disarray

Global call for climate action

Copenhagen: EU to commit $3.6bn

Rich vs poor at Copenhagen

Obama praised for emissions goal

 

Top Stories

Greece at last approves austerity measures

Feb 13 2012 07:58

Greek lawmakers have approved a new round of drastic austerity measures after a long day of street battles between police and protesters left dozens injured.

What to do with R200K?

Feb 13 2012 07:41

A reader gets advice on quick returns on a lump sum.

Financial mess 'unintended', says Nedbank

Feb 12 2012 15:59

Moral hazard, financial weapons of mass destruction, a huge mess - these were the words used by a founder member to sum up the collapse of the Pinnacle Point Group.

 
Share Share line Print

Copenhagen - South Africa and Eskom came under fire in Copenhagen from non-governmental groups which claimed the country was not serious about combating climate change.

South Africa's commitments here, at the United Nations Conference on Climate Change, are, according to its critics, inconsistent with decisions related to energy investments.

A new report from the Groundwork organisation, entitled The World Bank and Eskom: Banking on Climate Destruction, sharply criticises the World Bank for funding Eskom's investments in two new coal-fired power stations.

The bank granted Eskom a $3.7bn (R27.8bn) loan for the construction of the Kusile and the Medupi power stations.

Siziwe Khanyile of Groundwork and Friends of the Earth South Africa says there is nothing ambitious about Eskom's plans to build more coal-fired power stations while the country has abundant potential for renewable energy.

Ferrial Adam of Earthlife Africa Centre contended that South Africa, with its huge per capita carbon footprint, can hardly afford more coal-fired power stations if it is serious about its commitment to reduce its greenhouse gas emissions.

South Africa conditionally committed itself to a 34% reduction of greenhouse gases from the current baseline by 2020, should it receive adequate financial support from developed countries for its plans, and if an ambitious new climate agreement can be concluded.

South Africa is currently one of the world's top 20 greenhouse gas polluters, and continues to rely largely on its plentiful coal reserves.

The International Energy Agency (IEA) warns, moreover, that the world will have to take a considerable number of its coal-fired power stations that are still operating by 2030 out of service - before the end of their useful life - if the necessary greenhouse gas limitations are to be realised and global warming arrested.

Nobuo Tanaka, executive director of the IEA, said that about 60% of global electricity production by 2030 should consist of a mixture of renewable energy (37%), nuclear power (18%) and coal-fired power stations with collection and storage technologies for carbon dioxide (5%).

A dramatic shift in motor sales is also necessary so that hybrid, plug-in hybrid and electrical vehicles make up 60% of all new sales by 2030, compared with the current 1%.

- Sake24.com

For more business news in Afrikaans, go to Sake24.com.

 
 
Comment on this story
0 comments
Comments have been closed for this article.
Facebook still a closed book in China
Feb 08 2012 16:59

Mark Zuckerberg wants to ''friend'' China's massive market but how far is he prepared to go, and against what competition?

Attie

Whilst doing my regular book browsing at Exclusive Books just before Christmas 2011 a book with the simple title “My Book” caught my eye. Paging through the book I saw nothing else but wild life photographs with accompanying quotations by either the author or another well-known person. ... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...