“South Africa’s indigenous energy resource base is dominated by coal … About 77 percent of South Africa’s primary energy needs are provided by coal. This is unlikely to change significantly in the next two decades owing to the relative lack of suitable alternatives to coal as an energy source.”To further unpack António Guterres’ recommendations, when the world met in France for the Paris Agreement, a decision was made to keep warming below 1.
Secondly, many major financial institutions that have been making pronouncements about supporting the environment hold stocks in coal mines and fossil companies.for example that “the world’s largest investment banks have provided more than $700-billion of financing for the fossil fuel companies most aggressively expanding in new coal, oil and gas projects since the Paris climate change agreement, figures show.
Finally, the just transition. One of the biggest reasons that the debate around transitioning to low-carbon economies is so sensitive is because it is directly tied to jobs. We must recognise that every time a coal mine is shut down, people lose their jobs. In some cases, the entire town where the mine was located dies. Then you have depression, suicides, people trapped in a poverty cycle, and on and on. In other words, there are real-life consequences behind every mine closure.
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