Greening the South African Economy
Trade and Industrial Policy Strategies are a leading South African consultancy on economic policy-making, and our one of our key partners in the region. Their new report, "A Green Economy Industry and Trade Analysis: Assessing South Africa's Potential" explores how the country can make the most of the fast-growing markets for low-carbon technologies.
South Africa has embraced the shift to a green economy to attain inclusive, equitable and sustainable growth and development. From a trade and industry perspective specifically, the transition materializes through two complementary streams, which go hand in hand: the development of new, green industries and the greening of existing, traditional industries.
Within this framework, our analysis focused on the development of new trade opportunities for green industries in South Africa, both for import substitution and for exports. The main objectives were to:
- identify and assess economic sectors that offer particular trade opportunities from the perspective of green industrial development;
- inform a subsequent sector-specific assessment of opportunities at the green industry and trade nexus; and
- provide recommendations for policymakers on how to harness the identified opportunities in key sectors.
Ultimately, the opportunity to develop green industries and trade-related opportunities in South Africa, both for import substitution and export purposes, is promising. Ensuring that these opportunities materialize and translate into local economic development will, however, require substantial support from the South African government and active collaboration between public and private entities.