The World Meteorological Organisation shows that Planet Earth is increasingly likely to experience global warming of 1.5°C within the next five years because of record greenhouse-gas (GHG) levels.
Despite this concerning news, 80% of the South African organisations surveyed by PwC South Africa have not yet made a net-zero commitment. Only 20% of local CEOs have GHG emissions linked to their remuneration package, compared with 37% globally. Without doubt, lagging net-zero peers will hurt exports, and lower revenue from exports will hurt every single South African.
Let’s do all we can – big and small – to mitigate the impact of climate change on the economy and living standards. In addition to being the right thing to do, it’s also very good for business. Environmental, social and governance performance is the only acceptable performance.