The just energy transition has come under fire from political leadership in recent weeks. It has become a scapegoat for rationalising continued energy shortages.
But what is even more damning is that SA’s carbon intensity — or the measure of carbon dioxide produced per dollar of GDP — is the second highest in the world, over triple the global average, six times the Organisation for Economic Co-operation and Development average, and nearly double the carbon intensity of China.
When looking at the level of carbon dioxide emissions embedded in trade, which measures emissions exported or imported as a percentage of domestic production emissions, SA is the fifth largest exporter of carbon dioxide in the world, performing better than only Venezuela and Kazakhstan. SA also does not benefit from the provisions that policies that the CBAM has for disadvantaged partners. The resolution adopted by parliament has special exemptions for least developed countries and small island developing states. The rationale is that these countries are not contributing to emissions and are lower income. As an upper middle-income country SA is not eligible for either exemption.
This will have a crippling blow on the export basket, given SA does not produce electric vehicles. In 2022, 351,785 vehicle units were exported. The EU, US and UK imported 77.3% of SA’s passenger vehicle exports. Additionally, SA exported R69bn in automotive components and just more than half of them were catalytic converters, a component that is not used in electric vehicles.These policies are just the tip of the iceberg in terms of what is to come.
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