Shipping’s Energy Transition: Strategic Opportunities in South Africa
The P4G-Getting to Zero Coalition report “Shipping’s Energy Transition: Strategic Opportunities in South Africa” explores the potential for South Africa to benefit from international maritime decarbonization. The report finds that South Africa, with its strong maritime connections and large renewable potential, has several promising business opportunities that could spur growth and a just transition, while accelerating decarbonization within and outside the maritime sector.
June 02 2022
South Africa is well positioned to benefit from international maritime decarbonization due to its large renewable capacity and unique location sitting at the gateway between the Atlantic and Indian Oceans. Tapping into this global energy transition holds the potential to accelerate the transition to cleaner forms of energy across the economy, creating several opportunities for the country.
In supporting national efforts towards greening and future proofing the economy, South Africa could seek to also leverage the opportunities surrounding maritime decarbonization to achieve wider national ambitions. This includes promoting national and international collaborations in research and development, making progress on climate action, moving to a just transition through decarbonizing industry, developing a strong national renewable energy market, increasing export potential, regional development, job creation, energy security, and local air quality.
To realize this, there is a need for South Africa to support the development of a stronger policy framework capable of facilitating the transition to zero emission shipping. This would require more clearly defining national objectives to ensure that benefits are realized as well as supporting and advancing international policies capable of accelerating the just transition to zero emission fuels globally.
The report “Shipping’s Energy Transition: StrategicOopportunities in South Africa” has been prepared by the P4G-Getting to Zero Coalition Partnership, which is jointly implemented by the Global Maritime Forum, World Economic Forum, Friends of Ocean Action, Environmental Defense Fund, University College London and International Association of Ports and Harbours.
Read the full report here