South Africa has various industry-related policies and master plans that take into account the changes wrought by the global energy transition, but the opportunities and risks arising from these changes must be addressed holistically across different sectors.
Further, jobs have been created in some of South Africa's industries, including in low-carbon industries, but have been offset by job losses, particularly in energy-intensive industries.
While a transition to more sustainable energy and production systems could reverse some of these losses, the country must consider what industries it can compete in and the structural changes that the transition will require and drive.
These were some of the comments made by researchers during the 'Green Industrial Policy Development Dialogue' hosted by economic research institution Trade and Industrial Policy Strategies (TIPS) on July 22.
Based on international experience, the global economy was increasingly moving to low-carbon products and South Africa had to strategically position itself in this changing landscape, said TIPS sustainable development economist Dr Michael Hector.
