SA needs an estimated $833.6bn (R12-trillion) in its transition to net-zero by 2060, an amount that would require a big increase in taxes as well as government borrowing and place a heavy burden on domestic consumption and the economy, a study by Standard Chartered reads.
Self-financing could see SA household spending fall $281.8bn over the period, but if the money is provided by developed markets, that could increase by $311.1bn, the study says, highlighting the crucial role of wealthy, developed economies in helping to finance the switch to renewable energy. ..
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