Tag: energy crisis

This year has been nothing, if not eventful. We started 2022 with Russian President, Vladimir Putin, declaring war on Ukraine. This event then triggered an energy crisis and has driven inflation, in major economies, to unprecedented levels, along with interest rates. And now, as the year draws to a close, COVID-19 has snuck in again to dominate headlines.

South Africa’s energy shortage is having a profound impact on its cities. Economic growth and jobs continue to be affected at a time when cities urgently need to recover from the COVID-19 crisis to retain their competitiveness and attractiveness.

The voices calling for sustainable business practices across all industries are growing ever louder and the journey towards ‘Net Zero’ will require everyone across the globe to play their part if we are to successfully combat the risks associated with climate change.

The notion of a polycrisis – various systemic crisis occurring simultaneously and interacting with one another – has been around for a while but has gained renewed traction for obvious reasons.

The market lens for the rest of 2022 will be focused on the impact of political and policy miscalculations. Russia’s President Vladimir Putin has fully miscalculated the West’s response to his invasion of Ukraine. The speed, strength and unity of global sanctions is bringing about economic collapse in his country.

South Africa remains in a dire energy crisis with utility costs having increased by 17% most recently and with the local provider desperately needing an additional 5,000 megawatts of generating capacity. And, if we consider that almost 77% of South Africa’s primary energy needs are reliant on coal, then there is no doubt that we are heading towards not only an energy, but an environmental crisis too.

Have members of the ruling party committed treason through bringing about the energy crisis? Whilst treason is broadly defined as ‘the crime of betraying one’s country’, what constitutes treason differs from country to country.