A Just Transition For Africa - Herbert Smith Freehills Client Event

On the 28th October, 2022, Stories Evolved joined Herbert Smith Freehills at its Johannesburg office for a ‘Just Transition’ client event. We presented our views about what a transition to renewables might mean for Africa and specifically the businesses that operate and invest there. South Africa is the 2nd most carbon-intensive major economy in the world and responsible for 40% of Africa’s total carbon emissions. At the same time, is has the largest global distribution of income across population. The top 10% own 86% of the country’s wealth and 55% live in poverty. The country is experiencing negative growth. A scaled transition to renewable energy is what’s needed to revitalise the economy, reduce carbon emissions and put South Africa in a position to thrive and survive in the years to come. But how can businesses participate in this growth opportunity without creating further inequality? We discussed this question along with how lawyers and clients can work together to resolve these complex issues.