re posted from HUGO KRUGER SUBSTACK
I find it deeply concerning that our banks are employing ‘climate finance’ to hinder the revival of these power plants. There’s no way around it – this agenda is both racist and colonial, particularly if one considers that roughly two-thirds of South Africa’s youth are currently unemployed, with a majority of them being black. Imposing a decarbonisation agenda on a poor country is beyond callous and insensitive. Richer countries can afford decarbonisation, most of Africa cannot at this stage, because we are still developing and have various other trade-offs to consider.
It begs the question of how South Africa’s banks and business elites genuinely believe that prioritizing ‘saving the planet’ is a more acceptable tradeoff, despite the evident negative impact on the economy of the world’s most coal-dependent country, leading to an increase in poverty.
Pretoria is going back to king coal
The revival of rooiwal and Pretoria West power stations