Ramaphosa Warns of Climate Change’s Economic Toll as SA Faces Resilience Challenge

Pretoria, South Africa – President Cyril Ramaphosa has underscored the severe economic implications of climate change as South Africa grapples with the increasing frequency and intensity of extreme weather events. Addressing the Climate Resilience Symposium in Tshwane today, Ramaphosa highlighted the recent devastation caused by storms in the Western Cape as a stark reminder of the country’s vulnerability.

The President emphasized that climate change is not merely an environmental issue but a multifaceted crisis with far-reaching consequences for the economy. Disruptions caused by extreme weather events, such as the recent disruption to the Port of Cape Town, increase the cost of doing business, dampen economic growth, and strain public finances.

“This is just one illustration of the fact that climate changes is as much an economic issue as it is a scientific, social justice, human rights and development issue,” Ramaphosa said.

To mitigate the economic impact of climate change and seize the opportunities presented by the transition to a low-carbon economy, the President outlined several key strategies. These include accelerating the just energy transition, diversifying the economy, and mobilizing both domestic and international finance for climate action.

Ramaphosa stressed the importance of a managed transition to a low-carbon economy, emphasizing the need to balance economic stability with environmental sustainability. He also called on the private sector to play a crucial role in driving investments in green technologies and creating new job opportunities.

As South Africa navigates the challenges posed by climate change, the President emphasized the need for collaboration among government, business, labor, civil society, and international partners to build a climate-resilient and sustainable future.