South Africa has the capacity to put itself at the forefront of emerging countries when it comes to adapting to climate change, but the country will need leadership and buy-in from the business sector.
As a fast developing country with high carbon emissions, South Africa will soon need to begin making the switch to a low carbon economy. Stiglitz said the government would have an important role to play in this and warned that a lack of clear policy could see the country lagging behind its contemporaries, as the US is now lagging behind China when it comes to green technology.
Stiglitz said that a set of broad macroeconomic policies, with the government making decisions in a way that supports green economics, may be necessary. He said that some of the most successful industries in the US -- including the advent of internet -- have been supported by the government.
"People sometimes forget that innovations are part of important government policy" he said.
Read more of this Mail & Guardian article here.
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