Latest news with #G20
Eyewitness News
7 minutes ago
- Business
- Eyewitness News
Some trade unions warn G20 govts to avoid reneging on promises to reform labour policy
JOHANNESBURG - Some trade unions have issued a stern warning to governments from the G20 member states to avoid reneging on promises to reform labour policy, with union federations re-tabling some demands. Four major federations, the Congress of South African Trade Unions (COSATU), the Federation of Unions of South Africa (FEDUSA), the South African Federation of Trade Unions (SAFTU) and the National Council of Trade Unions (NACTU), wrapped up the 2025 Labour 20 Summit in George on the sidelines of the G20 employment working group meeting on Wednesday. The gathering comes as workers, especially in the global south, continue to face spiralling inequality, stubborn unemployment and deepening climate devastation. Unions said that at the heart of the L20 programme was the need to reclaim and rebuild multilateralism, demand a new social contract and reverse the decline in labour's share of income. The four union federations believe any global recovery that excludes workers is a blueprint for deeper inequality. Part of the demands are labour law reforms, expanded labour inspections, ratification and implementation of all instruments by the International Labour Organisation and inclusive social protection. The unions want climate finance to reach communities, with further calls for public investment, social dialogue, adjustment costs, and job guarantees as pillars of green industrial policy. They said polite promises from governments won't be tolerated without the ability to rebuild power on the shop floor, at national bargaining councils, in global supply chains, and in every policy space.
Bloomberg
30 minutes ago
- Business
- Bloomberg
Trump Picks His Doral Club for G-20 Summit
US President Donald Trump plans to host next year's Group of 20 summit at his Doral resort in Florida, and to cut the number of extra participants to narrow the gathering's size, people familiar with the matter said. Preliminary planning is underway with the US set to take over as host country in 2026. No final decisions on the summit's parameters have been made, but Trump has focused discussions around his Miami-area property, the people said.
IOL News
3 hours ago
- Business
- IOL News
Ramokgopa urges global shift from pledges to execution for Just Energy Transition
The G20 Energy Transitions and clean cooking were topics of discussion for media outlets with Dr. Kgosientsho Ramokgopa, Minister of the Department of Electricity and Energy. Image: GCIS Minister for Electricity and Energy, Kgosientso Ramokgopa, has emphasised the urgent need for a fundamental reconfiguration of the global energy finance architecture. Speaking at the third Energy Transitions Working Group meeting under South Africa's G20 Presidency, he called for a transition from pledges to tangible execution, particularly in light of recent commitments exceeding R1 billion towards the implementation of JET programmes. Ramokgopa asserted that the credibility of the global transition hinges on the timely and effective mobilization of financial resources to where they are most needed. "Finance must become a tool of inclusion, not a barrier to participation. Scaling up climate and energy finance is not only urgent, but also central to closing the infrastructure gap, addressing energy poverty, and driving structural transformation and industrialisation," Ramokgopa said. "We must shift from pledges to execution, from fragmented flows to coordinated and catalytic investment." Ramokgopa underscored the dire necessity to address systemic underinvestment in transmission, distribution, and generation capacity. He advocated for a financing structure that ensures long-term affordability, particularly for vulnerable and energy-poor communities. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Central to this strategy is the establishment of de-risking mechanisms aimed at attracting private capital while preserving essential public oversight. Ramokgopa also highlighted the importance of expanding access to concessional and blended finance for early-stage and localised energy projects, prioritising small and medium enterprises in the energy value chain. So far, South Africa has secured pledges totalling up to $12.8 billion from international partners, with over $760 million earmarked for grant funding. Recently, the country entered into a $474m loan agreement with the African Development Bank (AfDB) along with a €500 million arrangement with the German Cooperation via KFW Development Bank, both crucial for funding the JET initiatives. However, Ramokgopa cautioned that renewable energy sources alone - particularly in regions with variable resources, legacy baseload infrastructure, or limited grid flexibility - were insufficient to satisfy all system requirements. He said for a pragmatic approach, South Africa had to utilise a mix of technologies, which includes Carbon Capture, Utilisation and Storage (CCUS) to reduce emissions from hard-to-abate sectors and existing fossil assets, Small Modular Reactors (SMRs) as a dispatchable, low-emission baseload option suitable for diverse geographies and carbon removal, and long-duration storage technologies to offset residual emissions and enhance system resilience. Ramokgopa said demand-side and system flexibility tools, including digital technologies, to balance load and optimise system operations also had to be considered. "A technology-inclusive approach ensures that countries can select solutions aligned with their energy mix, infrastructure readiness, and industrial strategy," he said. "It also expands investment options, supports innovation, and avoids prematurely locking out viable low-carbon technologies. The transition must be both ambitious and anchored in the realities of implementation." Ramokgopa's clarion call extends beyond South Africa's borders, urging the G20 to fully and practically implement Sustainable Development Goal 7, which aims to ensure access to affordable, reliable, sustainable, and modern energy for all. This, he said, requires mobilising adequate and appropriate climate and development finance, modernising grid infrastructure at scale, supporting public-private partnerships to accelerate implementation and enabling context-specific, country-led energy transition pathways that consider national priorities and the global imperative to address climate change. "Each country must retain the right to determine its pathway, based on national priorities, institutional capacity, and existing energy systems. There is no single model. No uniform pace. No imposed prescription," Ramokgopa said. BUSINESS REPORT
News24
3 hours ago
- Business
- News24
Energy transitions must be just, sovereign and inclusive
Waldo Swiegers/Bloomberg via Getty Images News Ramokgopa pushes inclusive, sovereign energy transition at G20 meeting. Calls for finance reform, pragmatic tech mix, universal energy access. Notes Eskom's improving performance amid domestic energy stability efforts. Electricity and energy minister Kgosientsho Ramokgopa has called for a pragmatic, inclusive and sovereign approach to the global energy transition, telling G20 counterparts that Africa's development and energy needs cannot be sidelined in the pursuit of climate goals. Addressing delegates at the third G20 Energy Transitions Working Group meeting on Wednesday, held at Sun City in the North West, Ramokgopa said the global move to a low-carbon economy must be guided by justice, inclusion, and the right of countries to determine their own energy pathways. The transition is not only about technology. It must be about solidarity. About sovereignty. About ensuring access and opportunity. Kgosientsho Ramokgopa Ramokgopa emphasised that while renewable technologies such as solar, wind, and battery storage are crucial, they alone will not address the complex energy challenges many countries face. He urged for a 'technology-inclusive' approach that includes carbon capture, long-duration storage, and small modular nuclear reactors. 'African countries, and others with legacy baseload infrastructure and constrained grids, require flexibility. Renewables must be part of a broader strategy, not the only strategy,' he said. FINANCIAL BARRIERS Ramokgopa made a strong appeal for reforming global energy finance structures, describing current models as exclusionary and insufficient for the scale of investment needed. He noted that while political commitments to climate finance have been made, delivery remains patchy. 'We must move from pledges to execution. Finance must be a tool of inclusion, not a barrier to participation,' he said, calling for concessional and blended finance to support early-stage and localised projects, and for mechanisms to de-risk investments in high-impact but underserved areas. He argued that energy investment must also support small and medium enterprises, particularly in emerging markets, as part of building resilience and enabling economic participation. The minister's remarks follow a recent announcement by the African Development Bank (AfDB), which on 1 July approved a $474.6 million loan to South Africa for its Infrastructure Governance and Green Growth Programme. The programme is the second phase of the AfDB's support for South Africa's Just Energy Transition and aims to enhance energy security, support green industrialisation and reform the transport sector. The minister warned that structural energy poverty continues to block development across the Global South. 'Over 760 million people globally still live without electricity. More than 2.6 billion rely on unsafe fuels for cooking. These are not statistics – they are mothers, children, workers,' he said, urging the G20 to act decisively to implement Sustainable Development Goal 7. Ramokgopa welcomed past G20 efforts on clean cooking and called for further commitments, particularly in support of scalable solutions for Africa. AFRICA'S ENERGY STORY IS NOT ONE OF DEFICIT Referencing Africa's abundant resources, young population, and industrial ambitions, Ramokgopa pushed back against the notion that the continent is lagging behind. Africa is not a deficit story. It is a story of resilience and ambition. What we lack is access to affordable and patient capital Ramokgopa He urged support for the African Union's Agenda 2063 and the Africa Energy Efficiency Strategy, warning that declarations without delivery would only widen inequality. The minister reiterated South Africa's position that each country must determine its own energy trajectory, based on national priorities, energy mix, and existing infrastructure. 'There is no single model. No uniform pace. No imposed prescription,' he said, stressing the principle of energy sovereignty. ESKOM GAINS Outside of G20 discussions, Ramokgopa also noted progress at home in stabilising South Africa's electricity supply. On Tuesday, he congratulated Eskom for achieving significant improvements in its Energy Availability Factor (EAF), a key metric of power station performance. 'Eight of the fourteen power stations are registering EAFs of 70% and higher, including one performing at 91.1%. This is a remarkable improvement from the average low of 48% in early 2023,' he said. Eskom confirmed the figures in a statement, attributing the gains to a steady drop in unplanned outages and consistent implementation of its generation recovery plan. The EAF has now reached 71%, excluding additional support from Kusile Unit 6, which has not yet entered commercial operation. Ramokgopa said the focus now shifts to resolving load reduction measures and stabilising the cost of electricity. 'I do understand the urgency. Announcements will follow soon,' he said.
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First Post
6 hours ago
- Business
- First Post
'Coercion and pressure': China slams Trump's secondary sanction threat for buying Russian oil
'China will always ensure its energy supply in ways that serve our national interests. Tariff wars have no winners. Coercion and pressuring will not achieve anything…,' said China's Foreign Ministry spokesperson read more US President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. File Photo/Reuters Beijing on Wednesday slammed US President Donald Trump for threatening to impose secondary sanctions on countries that continue purchasing oil from Russia, calling the move an act of 'coercion and pressure.' In a strongly worded response on X, a spokesperson for China's Foreign Ministry said, 'China will always ensure its energy supply in ways that serve our national interests. Tariff wars have no winners. Coercion and pressuring will not achieve anything. China will firmly defend its sovereignty, security and development interests.' STORY CONTINUES BELOW THIS AD Response to U.S. suggestion that it will significantly raise tariffs if China continues to purchase Russian oil: China will always ensure its energy supply in ways that serve our national interests. Tariff wars have no winners. Coercion and pressuring will not achieve anything.… — CHINA MFA Spokesperson 中国外交部发言人 (@MFA_China) July 30, 2025 Earlier in the day, President Trump imposed 25% tariffs and imposed a penalty on India for buying Russian oil amid the ongoing war in Ukraine. He also warned China and threatened to impose tariffs on Beijing. '…Also, they (India) have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE — ALL THINGS NOT GOOD!' Trump posted on Truth Social. On Tuesday, the US and China agreed to extend their mutual tariff pauses for another 90 days, following two days of high-level bilateral talks held in Stockholm, Sweden. Under the extension, the US will maintain its 30% tariffs on Chinese goods, while China will continue its 10% tariffs on American products. STORY CONTINUES BELOW THIS AD Welcoming the development, China's Vice Premier He Lifeng, who led the Chinese delegation, said: 'A stable, healthy and sustainable China-US economic and trade relationship serves not only the two countries' respective development goals but also contributes to global economic growth and stability.' U.S. Treasury Secretary Scott Bessent, part of the American delegation, described the discussions as 'very fulsome,' noting that the two sides covered a wide range of issues, including China's trade relations with Russia and its oil imports from Iran. 'We just need to de-risk with certain, strategic industries, whether it's the rare earths, semiconductors, medicines, and we talked about what we could do together to get into balance within the relationship,' Bessent added. The agreement marks a temporary easing of tensions in a trade relationship that remains under strain due to strategic concerns and geopolitical alignments. With inputs from agencies
