Eskom's De Ruyter: We are not climate change denialists
- Eskom CEO Andre De Ruyter says that the power utility has acknowledged the global shift towards renewable energy.
- Renewable energy could deliver a range of benefits such as cost competitiveness, reduced emissions and possible job creation.
- Eskom has since established a Just Energy Transition office to engage with workers and communities in order to engage on a business model that creates a meaningful future for them.
There is an opportunity to drive a "greener, cleaner" Eskom in future, CEO Andre De Ruyter has said.
The power utility's chief executive was speaking during a webinar on Tuesday, hosted by the Cape Town Press Club.
Apart from outlining a number of challenges Eskom is facing, De Ruyter also commented on the changing global energy landscape and what it means for the power utility.
"First of all, I think it is important to point out that we are not climate change denialists. We accept and we understand that it poses a risk, not only to Eskom, but also the economy of South Africa, and we have to play our part," he said.
De Ruyter noted that globally, financial institutions were moving away from funding and insuring fossil fuels.
Global asset manager BlackRock earlier this year announced it will put climate change at the heart of its investment decisions – lowering its exposure to fossil fuel companies going forward. Domestically, banks such as Standard Bank and Nedbank have said they would not fund new coal independent power producers.
De Ruyter also noted that renewables ar....