Page 69 - 2022 IRMSA Risk Report

A South Africa Top Risks

3
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SECTION 3: South Africa Top Risks continued

˜ >``ˆÌˆœ˜] «iœ«i½Ã i>Ì ˆÃ >vviVÌi` ­i°}° v>̈}Õi] Their approach is centred on collaboration with
w̘iÃà ̜ ܜÀŽ®] i>`ˆ˜} ̜ >˜ ˆ˜VÀi>Ãi` Ã>viÌÞ ÀˆÃŽ] Ì iˆÀ č`>«Ì>̈œ˜ *Àœ}À>““i Ü iÀiLÞ Ì iÞ VÕÃÌiÀ
with negative impacts on future employment and businesses with similar issues to enable a common
living conditions. platform and incentive to solve a common challenge.
Business resilience is becoming a mainstay for They focus on the following three core areas: (i) provision
S œÀ}>˜ˆÃ>̈œ˜Ã] Ü ˆi w˜`ˆ˜} ܏Ṏœ˜Ã vœÀ vÕÌÕÀi of strategic thought leadership which helps to uncover
operating conditions and avoiding the potential >Ài>à œv à >Ài` ÀˆÃŽÃ >˜` œ««œÀÌ՘ˆÌˆiÃ] Ü ˆV Ì i˜ vœÀ“
inability to operate at all. the basis for designing collective action programmes
and understanding implementation approaches; (ii)
č ŽiÞ V >i˜}i ˆ˜VÕ`iÃ Ì i >VŽ œv w˜>˜Vˆ> ÀiÜÕÀVià LՈ`ˆ˜} Ì i V>«>VˆÌÞ œv > ÃÌ>Ži œ`iÀÃ] ÜˆÌ > vœVÕÃ
to implement interventions at scale. We understand œ˜ LÕȘiÃÃ] ̜ i˜}>}i ˆ˜ «œÌi˜Ìˆ> VœiV̈Ûi >V̈œ˜
Ì i ÀˆÃŽ «Àœwi >˜` >Ûi }œœ` «>˜Ã] LÕÌ Ì iˆÀ programmes; and (iii) designing and implementing
implementation is dependent on adequate capital collective actions that lead to business-led solutions
ˆ˜ÛiÃ̓i˜Ì] Ü ˆV Vœ“«iÌiÃ ÜˆÌ «œÛiÀÌÞ >iۈ>̈œ˜ that unlock developmental outcomes and drive
>˜` >``ÀiÃȘ} ˆ˜iµÕ>ˆÌÞ° œÀ iÝ>“«i] `iˆÛiÀˆ˜} sustainable growth.
these projects is affected negatively by a lack of
œV> ÀiÜÕÀVià ­i°}°] «iœ«i] v՘`ˆ˜}® Ü ˆi ÕȘ} "À}>˜ˆÃ>̈œ˜Ã >VÀœÃà -č `œ iÝVi«Ìˆœ˜>
international resources does not always work. ܜÀŽ ̜ LiÌÌiÀ ՘`iÀÃÌ>˜` Vˆ“>Ìi V >˜}i]
ˆÌà >`>«Ì>̈œ˜ “i>ÃÕÀiÃ] >˜` Ì i ˜ii` vœÀ vÕÌÕÀi
/ i ,£Î£L˜ «i`}i` ̜ -č LÞ `iÛiœ«i` ˜>̈œ˜Ã ˆÃ >L>Ìi“i˜Ì] œÜiÛiÀ Üi >Ài œvÌi˜ ܜÀŽˆ˜} ˆ˜ ȏœÃ°
welcome but unfortunately not nearly enough to fund The result is a lack of information sharing which
Ì i ÀiµÕˆÀi` «ÀœiVÌð / i Ài>ˆÌÞ ˆÃ Ì >Ì Ãœ‡V>i` ¼`ˆÀÌÞ could be used to enhance the knowledge pool and
ˆ˜`ÕÃÌÀˆiý] >««i˜ ̜ i“«œÞ > È}˜ˆwV>˜Ì «>ÀÌ œv Ì i collaboration drive.
population (coupled with a sizeable contribution to
the economy); and therefore investment to ensure œL>Þ] Ì i “>œÀ V >i˜}i ˆÃ œÜ ̜ Õ}}i
> ÕÃÌ ÌÀ>˜ÃˆÌˆœ˜ ˆÃ «>À>“œÕ˜Ì] ̜ >ۜˆ` ܜÀÃi˜ˆ˜} competing priorities so that climate change risk is at
Ì i œÌ iÀ «ˆ>Àà œv ÃÕÃÌ>ˆ˜>LˆˆÌÞ] ˆ°i° ÜVˆ> >˜` the top of the list to enable poverty alleviation and
}œÛiÀ˜>˜Vi] Ü ˆÃÌ vœVÕȘ} œ˜ Ì i i˜ÛˆÀœ˜“i˜Ì° economic prosperity in the long-term. The risks that
keep us up at night are already overwhelming and
œÛiÀ˜“i˜Ì ˆÃ `œˆ˜} ˆÌà LiÃÌ Ìœ V >˜˜i v՘`Ã] LÕÌ the magnitude of the impact of climate change seems
ˆÌ à œÕ` vœVÕà œ˜ v՘`ˆ˜} Ì i ëiVˆwV ˆ˜ÌiÀÛi˜Ìˆœ˜Ã Õ}i° 7i “ÕÃÌ ÃÞ˜Ì iÈÃi Ž˜œÜi`}i] «Àœ“œÌi Ó>
that will have the best possible impact in terms of ÃV>i ܈˜Ã] v>ˆ v>ÃÌ ˆv ܓiÌ ˆ˜} `œià ˜œÌ ܜÀŽ] i>À˜
VÕÀLˆ˜} Vˆ“>Ìi V >˜}i ÀˆÃŽ° / i ëiVˆwV ÀˆÃŽÃ “ÕÃÌ and move on.
Li “>ˆ˜ÃÌÀi>“i`] ̜ «Àœ“œÌi “œÀi Vœ>LœÀ>̈œ˜
between the public and private sectors which
ultimately affect both sectors and broader society at
a local geographic level.

č˜ œ««œÀÌ՘ˆÌÞ i݈ÃÌà ̜ ˆ˜ÛiÃÌ ˆ˜ œ˜}œˆ˜} ÀiÃi>ÀV
to understand the risk implications and consider
augmentation measures that yield net positive impacts
to get ahead of the curve.
č}ÀˆVՏÌÕÀi ˆÃ > }œœ` iÝ>“«i] Ü iÀi Ž˜œÜi`}i œv
future climatic conditions can inform steps now to
invest in crops that thrive under the projected climate
change realities.
/ i >̈œ˜> ÕȘiÃà ˜ˆÌˆ>̈Ûi ­ ®] > ۜÕ˜Ì>ÀÞ
coalition of South African and multinational companies
working towards sustainable growth and development
ˆ˜ -č] ˆÃ > }Ài>Ì iÝ>“«i œv >˜ i˜ÌˆÌÞ `i>ˆ˜} ÜˆÌ Ì ˆÃ
«iÀÛ>ÈÛi ÀˆÃŽ «>À̈VՏ>ÀÞ Üi] ˆ˜ > “>˜˜iÀ Ì >Ì ˆÃ
LœÌ ˆ˜ÃÌÀÕV̈Ûi >˜` iÝi“«>ÀÞ° / i ½Ã «ÕÀ«œÃi ˆÃ
to drive broad business participation in an economic
transition and social transformation to enable
sustainable growth.

IRMSA RISK REPORT • SOUTH AFRICA RISKS • EIGHTH EDITION 67